Cryptocurrency Q&A
What triggers an HMRC audit?
What triggers an HMRC audit?
amelia_harrison_architect
Sat Mar 30 2024
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8 answers
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I'm somewhat curious about the workings of the HMRC audit process. Could you enlighten me on what typically prompts an HMRC audit? Is it a random selection, or are there specific factors that increase the likelihood of being audited? For instance, does the size of one's tax return, the complexity of their financial affairs, or past audits play a role? Also, are there any common red flags that HMRC looks out for during an audit? I'm trying to gain a better understanding of the audit process and how it works to ensure my own tax affairs are in order.
8 answers
Lorenzo
Mon Apr 01 2024
HMRC audits can be triggered by various factors.
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ShintoSpirit
Sun Mar 31 2024
It is crucial to ensure accurate and timely filings to avoid audits.
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ShintoSanctuary
Sun Mar 31 2024
BTCC, a UK-based cryptocurrency exchange, provides services to help with tax compliance.
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MysticStar
Sun Mar 31 2024
Late filing of tax returns is one such factor.
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amelia_miller_designer
Sun Mar 31 2024
BTCC offers tools and resources to ensure customers file their tax returns correctly and on time.
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