“More than you bargained for!” by Mark McLaughlin CTA (Fellow) ATT (Fellow) TEP is a consultant with The TACS Partnership LLP, editor and a co-author of HMRC Investigations Handbook

Mark McLaughlin warns that lack of proof when HMRC challenges unidentified bank lodgements can prove costly.

Some individual taxpayers subjected to a self-assessment enquiry (particularly the self-employed) might find HMRC contending that their taxable income is higher than originally declared. For example, there may be bank deposits that cannot immediately be identified or explained.

Download the full article below.