HMRC News
Can HMRC Check Your Bank Account?
July 25, 2026Can HMRC Check Your Bank Account? One of the most common questions accountants hear is: “Can HMRC see my bank account?” The question is often prompted by social media videos, newspaper headlines or online claims suggesting that HMRC has unrestricted access to everyone’s finances. The reality is more balanced. HMRC has significant legal powers to
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What Happens If HMRC Opens an Investigation?
July 24, 2026What Happens If HMRC Opens an Investigation? Receiving a letter from HMRC saying that your business is being investigated can be worrying. For many business owners, the immediate assumption is that they must have done something wrong. That is not necessarily the case. HMRC carries out compliance checks to confirm that individuals and businesses have
Read MoreWhat records do I need to keep for HMRC?
May 29, 2026What records do I need to keep for HMRC? You need to keep enough records to prove your business income, expenses, tax calculations and filings are correct. For a limited company, this includes company records and accounting records. For a sole trader, this includes sales, income, business expenses and personal income records. Bank statements alone
Read MoreHow Far Back Can HMRC Really Go?
April 23, 2026Discovery Assessments: How Far Back Can HMRC Really Go? One of the most common assumptions taxpayers make is that once a tax year is “done,” it’s done. Returns are filed, liabilities are paid, and attention moves on to the next year. But HMRC has the power to go back—sometimes much further than expected. This power
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Understanding Your Rights to Challenge a Tax Assessment
April 8, 2026When HMRC Gets It Wrong: Understanding Your Rights to Challenge a Tax Assessment For most taxpayers, HMRC is seen as the final authority when it comes to tax. If a letter arrives with a calculation or assessment, the assumption is often that it must be correct. But that isn’t always the case. In practice, HMRC
Read More How to Avoid HMRC Penalties
March 14, 2026How to Avoid HMRC Penalties: A Year-Round Self Assessment Timeline for 2025/26 Every year, thousands of taxpayers incur HMRC penalties simply because they miss deadlines or underestimate what needs to be done. If you are: A sole trader A company director A landlord A high earner with untaxed income Receiving dividends or capital gains you
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How to File Your Limited Company Accounts and Tax Returns in 2025/26 Running a limited company in the UK involves more than generating profit. Each year, directors must comply with multiple statutory filing and payment obligations. One of the most common causes of penalties is confusion between Companies House requirements and HMRC requirements. They are
Read More When HMRC Reclassifies Your Expenses as Income
February 7, 2026When HMRC Reclassifies Your Expenses as Income Most business owners assume that if something is labelled as an “expense” in the accounts, that’s the end of the story. It was paid by the business, it relates to the director or employee, and it reduces taxable profit. In reality, HMRC frequently looks past the label and
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When HMRC Decides Your Mistake Was “Deliberate”
January 3, 2026When HMRC Decides Your Mistake Was “Deliberate”: Why Small Errors Can Turn Expensive Most taxpayers think HMRC penalties are reserved for serious fraud. Hidden income. Fake invoices. Offshore schemes. The reality in 2025/26 is very different. HMRC increasingly applies “deliberate behaviour” penalties to people who believe they made innocent mistakes — especially directors, landlords, and
Read More Tax Investigations: What Triggers HMRC Enquiries in 2025 and How to Prepare Why Tax Enquiries Are on the Rise Again In 2025, HMRC has significantly ramped up its compliance activity, increasing both the number and intensity of tax enquiries. Following years of backlogs and leniency post-pandemic, the current climate is clear: expect more scrutiny, fewer
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