If, at the end of the investigation, you are found to have underpaid tax, you will be expected to pay the debt and may need to pay interest on owed taxes. Ensuring that individuals and businesses are paying the correct amount of tax is crucial to avoid penalties and complications during HMRC investigations. Interest on overdue payments can accumulate, increasing the total amount you owe. Maintaining accurate financial records is essential to manage your tax liability effectively.

If you are unable to pay the debt in full, you can suggest an affordable repayment plan that includes any additional tax. The terms of repayment will be expertly negotiated by your accountant at Thompson Wright.