Our experience as Tax Inspectors has taught us that all the best businesses had clear risk management policies in place, together with procedures to minimise financial risk.
One of our more popular offerings to clients is a proactive offering whereby we: -
All these are done with a view to assessing any areas of tax or regulatory risk well in advance of any potential regulatory challenge.
This can assist in ensuring that transactions take place in an organised and legally compliant manner and that the desired outcome can be achieved. Should there be any subsequent regulatory challenge, the client will have a full suite of documents and opinion to support the particular treatment and can have an organised and well structured engagement with the regulator from a position of strength.
Particularly popular with clients is a review of the operation of benefits and expense payments for employers, as this has historically been an area of rich pickings for HM Revenue & Customs and remains to be so. By taking the initiative and having a full health check outside of an HM Revenue & Customs challenge, we can offer businesses the opportunity to ensure they are fully compliant and that they can proceed with confidence.
Gary Brothers and Mike Leigh are regular contributors to a number of professional forums. The current blogs are here, and our archived blogs can be found by checking on the link below.