HMRC opened 300,762 investigations into self assessment tax returns, according to data released in 2019 for tax year 2016/17. The tax authority collected £1.2bn in extra tax from investigations into self-assessment tax returns in 2018/19.
Analysis by accountants Moore (formerly Moore Stephens) shows the level of risk, warning taxpayers to be careful when filing tax returns as mistakes, although often not deliberate, act as a red flag for HMRC, which can lead to investigations and even penalties.
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