Tax Audits/Investigations

/Tax Audits/Investigations
Tax Audits/Investigations2019-05-03T09:48:11+00:00

IRD Tax Audit Notice – What do I do now?!

In the post you have just received an audit notice from Inland Revenue – what do you do now??  An audit is where Inland Revenue has a legislative right to investigate the financial side of your business and determine if your business has been paying the correct amount of taxes.

Tax audits are a very stressful time and should not be ignored.  This is the time you need experienced tax lawyers at your side. Inland Revenue have large powers to obtain information from you, your Bank and others, along with powers to seize and examine property (for example computers) and search your business premises.  It is extremely important you know your legal rights, and the process involved and have strong representation from the outset.

Irreversible damage can be done to your case early on in the process and depending on what Inland Revenue want to do with the information:  audit, prosecute, liquidate.

How is a tax audit carried out?

A simple tax audit may need only one visit while others will be ongoing and it all depends on the complexity of your business, your record keeping and accounting practices and what advice you obtain.

It’s hard not to, but don’t panic! We help you to survive.

Tax audits are stressful but Gina Jansen Lawyers know tax auditors work and we make sure you come out the other end with the best results.  We will step in and provide the auditor with the correct documentation they require from you, help explain to you in plain English what is happening, help address any issues, explain the outcomes of the audit to you and prepare for a review if necessary.

We can explain the appeal process if you disagree with the auditor’s findings.  We can do this all directly on your behalf if you require. One option is to pre-empt a dispute by setting out your tax position with Inland Revenue early on through a voluntary disclosure procedure.

This may help to reduce or avoid higher penalties.

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