45 months is now the average amount of time that HMRC’s enquiries into big businesses’ tax affairs have now been open.
The delays, which have increased from 43 months in 2020, are said to be from HMRC taking a longer period of time to decide whether to settle or close an investigation.
The critical issue for the owners of these businesses is the time and cost these investigations are requiring; with substantial amounts of money having to be set aside in the event their respective dispute with HMRC is lost.
The backlog of investigations are a undoubtedly a huge burden for both HMRC and business owners.
Looking for the best expertise to reduce the hassle in your tax affairs? … if so, contact the Magma tax team on 01788 539000 or email [email protected].