HMRC Tax Investigation Dont Panic, Heres What to Do

HMRC Tax Investigation Don’t Panic, Here’s What to Do From time to time, companies and individuals will face a routine tax audit, but a more serious tax investigation can take place if HMRC suspect that your tax returns are not accurate or that something looks out of the ordinary. Undergoing a tax investigation can be a complex and very stressful affair, so it’s best to involve your accountants as soon as you’ve been informed about the investigation. How likely is it that my company will be tax audited or investigated? If you’re registered for VAT, or have employees who are subject to PAYE deductions, you can expect the odd routine tax audit or investigation. In this case, HMRC will normally check your company records and systems and concentrate on those areas where errors most often occur. When it comes to Income Tax or Corporation Tax, routine tax audits are very unlikely. HMRC tend to investigate tax issues only if they believe you’ve made numerous mistakes or are deliberately trying to avoid paying tax. On average, a tax audit will happen every 5 years or so, but an in-depth tax investigation can happen at any time, if HMRC suspect that tax is being underpaid. Tax audits or investigations are more likely to happen if:   there are variations or inconsistencies like a dramatic increase in costs or a large fall in turnover tax returns are filed late, you pay tax late, or you make errors in your tax calculations costs appear to be excessively high for a company in your industry your company operates in a high-risk industry and routinely accepts cash payments you or your  company operates offshore bank accounts your company receives income from property HMRC receives a tip-off There are insurance policies you can take out to cover you against the costs of a tax audit investigation. Speak to your accountant about this. How am I notified of a tax audit or a tax investigation? HMRC will contact you if they feel the need to conduct a tax audit or an investigation. In the case of an audit, they will normally come to your offices to check your tax records. In the case of a tax investigation, you’ll first receive a letter from HMRC requesting information. Their letter will specify if they’re going to investigate a particular aspect of your tax return, or whether a full tax investigation is to be carried out. Contact your accountants immediately, as they should be able to tell you the reasons for a tax investigation. By law, HMRC must commence their investigation within 12 months of the due date for the tax return it relates to, or 12 months after you filed the return, if you missed the due date. What to do during a tax audit or tax investigation  Your accountants should go through your records and systems very carefully, so that you can provide accurate, up-to-date information as quickly and easily as possible when the tax inspector visits. In the case of a tax investigation, it’s worth seeking specialist advice so that you know how to respond to requests from HMRC for further information and documentation. It’s also a good idea, wherever possible, to deal with HMRC through your accountant, in writing, rather than having phone conversations or unaccompanied meetings directly with the tax inspector. Whatever you do, do not mislead, or lie, or destroy evidence, as this will only lead to harsher penalties. If you can, make payments on account towards any likely tax bill, so that you reduce the amount of interest that will become payable. Once a tax investigation has started it can last several months or more. The investigation could also expand if, for example, a corporation tax investigation leads to enquiries into the directors’ personal tax affairs. Depending on the severity of the matter, forensic accounting services may be needed to determine the extent of any financial or tax inconsistencies. Your accountants should be involved every step of the way so they can advise you what to do if HMRC takes too long, requests too much information, or behaves in an unreasonable manner. Walls have ears Tempting though it might be to tell your friends at the golf club or in the pub that you’re being investigated, you don’t want everyone in the village to know the details of your case â€" and you never know this may include someone who works for HMRC! Be prepared Remember the motto ‘No one prepares to fail, they fail to prepare’. In order to answer the tax inspector’s questions, you must be well prepared. If not, your lack of preparation may be seen by the tax inspector as a lack of co-operation on your part.

Making a Switch from A Corporate Career to A Non-Profit

Making a Switch from A Corporate Career to A Non-Profit There’s a growing trend of people making the switch from the corporate to the “helping” sectors, as we’ll call them, the charity, social, and government jobs that emphasize change.With more and more organisations able to offer competitive wages in central locations, workers are seeing the rewarding possibilities of working for a non-profit.Photo Credit â€" Pexels.comHowever, it’s not just a matter of deciding to make the switch then moving to a new job overnight: finding a role in the new sector will take time, and should be considered a long term aspiration.evalBelow, we take a look at how you can make a move into a career where you’ll be able to make a real difference.What’s the Motivation?There’ll be a lot of people out there who like the idea of working for a non-profit, but when it comes down to it, it’s worth remembering that working for a charity or social organisation is a significant change â€" and should be considered as such when weighing up the options.B efore committing to the idea, think of what lies behind your desire to move. You’ll be able to make a difference, but there’s no magic wand: the differences you make might be slight, and you’re sure to come up plenty of roadblocks in your quest to do good.If you can weigh up the pros and cons of third sector jobs and remain determined to do it as a job, then it might just be for you.What You Can BringThe good news is that if you have years of corporate experience under your belt, then you’ll have the skills that employers are looking for. More and more, organisations in the third sector are operating as a corporate company, with similar chains of command and ways of practice.Before you begin looking for a job, take a look at the skills you’ll be able to bring â€" more likely than not, you’ll have tons of relevant experience. If you’ve been involved in sales, for example, then you know you’re already talented at talking to people and bringing them around to your way o f thinking.What organisation, especially in the charity sector, wouldn’t like to have a worker with that skill set? You’ll need to build on your existing skills, so they’re more relevant to a different industry, but it’s a solid foundation to build on.The Causes You’re Interested InevalThe helping sector is big; arguably as big as the corporate sector, and there are a million and one things you could do in it. If you’re passionate about working with disadvantaged children, there’ll be organisations to connect with. The same goes for the environment, healthcare, politics, and the long list of other organisation types.Think about what it is you care about. This will stem back to your motivation for wanting to help; when you first thought of moving away from the corporate sector, what did you imagine you would be doing?A useful starting point is to ask yourself what global issues you want to improve, and then get more specific from there.Getting SpecificOnce you know the type of field you want to work in, you can begin the process of learning about it, and then which subdivision of that cause you want to be a part of.evalThe environmental sector could be further divided into wildlife, climate change, cities of the future, and much more, for example.If you want to work with people, then which type of people â€" people with substance abuse problems, disadvantaged children, or people with disabilities?Read up on the issues that people working in that sector are trying to solve and what their jobs entail; you’ll soon have a better understanding of how you can help.Photo Credit â€" Pexels.comVolunteeringIt’s not advisable to hand in your notice and move to another job in another industry before you have some idea of what it’s like to do that type of work.Volunteering is an excellent way to start your journey toward a helping career without the pressure of being in the deep end. This is flexible, so you’ll be able to fit in your volunteering aroun d your current job.It could be a couple of hours each weekend, one day a month, or anything else â€" it’ll all help your understanding, and also show potential employers that you’re serious about the cause when it comes to applying for jobs.InternshipsThere are, admittedly, a few corporate workers out there who baulk at the idea of undertaking an internship. Internships are for workers new to the industry, those without the experience to get a real job, they might think, and they’d be right.However, in this scenario, the corporate workers might just be those inexperienced workers!While there should be many jobs available, the biggest and most competitive non-corporate industries are harder to crack into. You can learn a lot during an internship, and if you’re serious about making the switch, then it might be a good idea. And talking of learning….Ready to LearnevalYou’ll have a lot of transferable knowledge you learned in the corporate sector, but don’t assume that you have all the skills needed to find a job in the non-corporate sector.You’ll need to be ready to learn all you can before you apply, and in some cases, it might be essential that you top-up your existing education with a new course.If you want to work in a social work position, then studying for an MSW â€" Masters of Social Work â€" will give you the concentrated knowledge you need to excel in the role.If you want to work for a climate change organisation, then taking a course in environmental sciences will help you understand the broader impact of what you’re trying to achieve, regardless of your position within the sector.Applying For JobsThe job market for jobs in social care, health work, charities, and the like isn’t as extensive as the global corporate sector, but it’s still sizable, and competition can also be fierce for the best jobs.evalMore than corporate jobs, charities love to see that you’re knowledgeable and passionate about their cause; remember, the workers are there because they’re passionate about they do. They won’t consider an application if it’s a standard, copy and pasted application that’s clearly been sent out to multiple organisations.Research the company thoroughly and outline precisely why you want to work for them, not just in that field.Photo Credit â€" Pexels.comStarting SmallYou should be prepared to start small, both regarding the company you work for and the job you’re doing. It’ll take time before you have the knowledge to work your way up in an organisation, so prepare to spend the first few months doing anything and everything in your new position.Also, it’s often easier to get jobs in smaller charities â€" they might not have as big a budget or workforce of other organisations, but they will provide a useful learning curve for your first job away from the corporate sector.Easily Transferable JobsWe’ve talked a lot about taking your existing skills and adapting them for a new sector, but this isn’t always necessary. Some positions are not industry specific and can transfer from one role to the next with ease.An example of this would be IT work: every organisation needs an IT worker. Your duties might be the same, but you might feel more satisfied knowing the bottom line of what you’re doing is making a positive impact in the world.Curb Your ExpectationsIt’s worth remembering that some positions simply can’t compete, financially, with the corporate sector.Starting wages are nearly always lower, but this shouldn’t put you off â€" there’s enough scope for taking home a good salary that it shouldn’t be a deciding factor. Just be aware that new, inexperienced staff will start on the lower rungs of the ladder.New EnvironmentsWhen you do eventually find a job, be prepared to give yourself time to adjust to your new environments. The culture between the social work industry and corporate sector, for example, can be vastly different.As with all changes in life, however, yo u will eventually grow used to â€" and in all likelihood, prefer â€" your new environment.Remember the ObjectiveMoving into a sector that has a good cause at the root of its core mission isn’t easy. Coming from the corporate sector, you can’t plan on just turning up and getting a new job without proving yourself first.As we mentioned above, you should think of moving to the new sector as a longer term goal.Figure out how you want to make a difference, work on getting the qualifications needed, volunteer in that area, and then spend time engaging with people who currently work in the kind of jobs you would like to have.ConclusionThere’s a strong case to be made for doing a job that makes a positive difference, and that’s why so many people are making the change.If you think it’s time for you, take the tips above and begin your journey to a new career.

5 Jobs a College Student Can Do Without Giving Up Valuable Time - CareerAlley

5 Jobs a College Student Can Do Without Giving Up Valuable Time - CareerAlley We may receive compensation when you click on links to products from our partners. Time is a premium commodity for college students. You must allow time for classes, homework, and studying while keeping up with sleep and a social schedule. It may seem impossible to maintain a job as well, but the right position can give you extra cash without disrupting your whole day. The key is to find a flexible work opportunity that maximizes your earning potential in just a few hours. Consider these smart job opportunities and start paying off those loans while youre still going to school. Nanny If you connect with the right family, you can find an ongoing position as a nanny thats flexible enough to accommodate your college schedule while helping you earn a decent chunk of cash. Depending on the ages of your charges, you might be able to do some of your homework while theyre working on their own, or study as youre waiting to pick them up from dance class. Many families need help just a few days a week or for a couple of hours in the afternoon, which gives college students ample time to take care of their own responsibilities. Massage Therapist Image via Flickr by Nick J Webb If youre going into a health-related field, carrying credentials as a massage therapist can be a great perk. This isnt something you can jump into without an education, but just 500 hours of training can give you the necessary credentialing to work independently as a masseuse. The benefits of this work are numerous. You can set your own appointments and hourly rates and work in the clients home. As a massage therapist, you can typically receive tips on top of your hourly fees, increasing your opportunities for easy earnings while you work through college. Independent Sales Consultant Do you have a knack for sales? A traditional retail job probably isnt flexible enough for your busy college schedule. However, as an independent sales consultant, you can work whenever and wherever you like. Study sessions and social activities can turn into opportunities for unexpected earnings if you spot a fellow student in need of your products. There are numerous companies offering these types of jobs, so you can sign up to sell products that youre passionate about, whether that means jewelry, handbags, or home goods. Work with a company like Amway, and you can sell everything from surface cleaners to face masques, giving you access to a broad group of potential buyers. Tutor Working as a tutor gives you a great way to expound on your passion for a particular topic. If youre in school for accounting, you can fine-tune your skills by being a math tutor. Snag a job as an English tutor and make money while you brush up on writing skills for your journalism major. Education majors are uniquely suited to this type of work. Tutoring students in the right age range can give you a peek at what your future career has in store. Tutoring is an extremely flexible occupation. Some tutors even work remotely, using video conferencing, text, and email to connect with their students. Set your own schedule and rates, and you can start a lucrative little side business tutoring independently. If you have trouble finding clients, try a site like tutor.com. Personal Trainer Are you a fitness buff with flawless form and a knack for motivation? Offer your services as a personal trainer and you can make money while enjoying time at the gym. This is a great way to combine activities in your schedule. You can make sure you dont miss your morning run, and start earning money for those miles by working with others who need a little extra help to get out and get moving. This is a flexible job thats ideal for a nutrition or health major. Use your knowledge of smart eating habits and proper health care to help others get in the best shape of their lives. Think outside the box and you can find a wealth of work opportunities that will let you earn extra money while staying in school. Focus on your strongest skills and find a way to use these for profit. Whether youre good at identifying shoppers needs or making history homework interesting, you can make money using your skill set. What's next? Ready to take action? Choose the right tools to help you build your career. Looking for related topics? Find out how to find the opportunities that help you grow your best career. Subscribe and make meaningful progress on your career. It’s about time you focused on your career. Get Educated Contact Us Advertise Copyright 2020 CareerAlley. All Rights Reserved. Privacy Policy + Disclosure home popular resources subscribe search

Resume and Cover Letter Writing Tips

Resume and Cover Letter Writing TipsResume and cover letter writing tips are of paramount importance for those who want to land a job in today's competitive job market. The internet has opened up job opportunities that once seemed unattainable.While there is no shortage of online job portals that can help you get your foot in the door, there are still some that are outdated and should be avoided. Employers will not want to deal with applications that don't do a very good job of convincing them of what they need to see in a potential employee. Some things you should know before submitting your resume include the following:o You should not write an original resume and cover letter. Do not attempt to reinvent the wheel - let it do the work for you.o You need to be honest in your resume and cover letter. Be prepared to stand by what you have to say.o Don't copy someone else's resume or cover letter. Make sure that you have one that you like and that is relevant to your qualifications. Ma ke sure to add your own unique style to your cover letter, as this will help you get noticed and will help you land a better job than your competitors.o Keep your letter short and simple. Your resume should only take a few seconds to read, so give it the best chance possible to catch the eye of the employer. In addition, be sure to emphasize the most important points of your resume and cover letter in your signature line.o Make sure that you follow all the resume and cover letter writing tips. If you do, then you'll be well on your way to landing the job you've always wanted.

Professional Resume Writing Services in Denver, Colorado

Professional Resume Writing Services in Denver, ColoradoStarting a new job or continuing a job as an employee in Denver's regional areas is a difficult task for any of us. There are many job openings in Denver and related areas in the United States. The job opportunities in Denver are very diverse. You will find that there are many job opportunities for the whole range of job seekers.With so many job opportunities, it is very difficult to decide what is best for you when you move to Denver. For people who have never worked outside the state of Colorado, Denver is the perfect place for a career. But if you have been working in the city of Denver and now want to move on, there are many different ways to do so. However, it is important to find out what the job market in Denver is like first before doing anything else.In order to find out what kind of job openings are available, you need to get an advertisement in the local newspaper, the Rocky Mountain News, and get an ad online. You ca n also check the Better Business Bureau if there are any complaints with your company. The best professional resume writing services will be able to contact the companies in order to inform you about any problems they may be having. However, if you know of any openings that you think are for you, then do not hesitate to get in touch with the best professional resume writing services in Denver, Colorado.What makes the best professional resume writing services in Denver, Colorado so different from others is that they know the right places to start looking for jobs and they know the right questions to ask employers in order to get the job. Many times, your resume will need to be rewritten by someone who has expertise in this area. Thus, when you contact a professional resume writing service in Denver, it is important to find out what their experience is in this area before you call them.Once you do, you will be able to make the best decision based on what your professional resume writi ng services knows about. Another important factor is the time period you are looking at when you are making your decision. Some hiring managers take one year to a year and a half to make their decision, so if you have already decided to move, then you will want to get your job done quickly. A good professional resume writing service can also help you plan your move so that you can make the move easier.While it is important to get your professional resume written by a person who is familiar with Denver, it is also important to look at the company itself. You want to look for a company that has been in business for a long time, which can give you some ideas about the type of work the company does. One other thing to keep in mind is the time frame for your relocation.When you make the best professional resume writing services in Denver, Colorado your hiring process will be much easier. You will find that your job search is made much easier because of the expertise they have that will a llow you to find the right job. With the help of professional resume writing services in Denver, Colorado, you will find your life in Denver much easier and more exciting.

The New Angle On College Resume Just Released

The New Angle On College Resume Just Released You don't have to have work experience to get skills. Working on your professional resume in college can help you figure out your strengths and weaknesses, and it could even help you receive the job that you dream about! Wherever you opt to place your skills on your resume, be certain to tailor your list of skills to the specific job. As you're considering your resume objective, consider the skills and demands of the particular job. The Fundamentals of College Resume Revealed One of the most typical mistakes in the college resume is the absence of proofreading that may mean grammatical, spelling or typo mistakes. There's a typical collection of basic things which are possible to include in a resume. Resume help If you're planning to go for an interview then the first thing you want to understand is that your resume must be quite attractive in the feeling of words that are use in it and the other things that are given there. What to Expect From College Resume? Creative resumes have better odds of being selected. A sample of resumes also tells you what's hot in the region of your interest. It can help you reap advantage from the situation. Why Almost Everything You've Learned About College Resume Is Wrong Irrespective of the scenario, a well-formatted biography letter can generally be true between a seal of approval or an extremely disappointing denial. Your resume should give them a crystal clear response to that question. If you do a resume example search, you will likewise find cover letter examples also. There are lots of examples of resumes, but you need to remain certain to create your resume and cover letter with your very own personal touch. You are able to have the ideal college admissions resume on earth. A in depth education section is the meat of a university student resume, so make sure that you don't brush over it. The Appeal of College Resume Every feature of the college applicat ion procedure serves to make you stand out as an outstanding candidate. The college's management states the institution is only going to have the ability to accommodate about one-thousand-200 new students. You're going to observe the very best college application resume on Earth. In the event the colleges you're applying to permit you to submit a resume, don't miss the opportunity. Volunteer experience is very important to highlight, particularly if it is related to the job or industry you're applying to. Showing you held a job, particularly for an extended duration, demonstrates you're reliable, dependable and a tough worker. It's far more difficult to update a resume if you wait until you require it for a work application. Let's walk through three unique resumes for different sorts of post-college jobs.

Are You Crazy To Start A Business In This Economy - Work It Daily

Are You Crazy To Start A Business In This Economy - Work It Daily “Start a business in this economy? Are you crazy?” Maybe not so crazy. For the moment, set aside the fact traditional employment options might be limited because of this economy. (It isn’t a news flash the job market is tight.) Instead, let’s focus on different questions: Is a business started today likely to succeed or to fail? Are there good recession resistant businesses? It all depends on the kind of business. This might not be a great time to start a business selling luxury goods. But aren’t there other options? What about businesses selling necessities? Better yet, what about businesses selling necessities at a good value? Maybe this is a great time for that kind of recession resistant business. Tutoring services, for example, are famously steady in an off economy. No matter how tight money might be, many parents will make it a priority to see their children have the resources needed to succeed in school. What about businesses that operate almost independent of the economy? Yes, there are some. Have you ever had the misfortune of having a flood in your home? A problem like that happens just as often in economic booms as it does in a recession. There are businesses that provide exactly that kind of disaster repair. It’s hard to think of a reason a disaster repair business can’t do well in a recession. What else? What about businesses with greater demand in a down economy? There are plenty of business owners struggling today. Wouldn’t this be a great time to sell services that can help turn around someone else’s struggling company? Not to mention anyone who sells a product that will help a business to lower its costs. Wouldn’t this economy help that sort of business to prosper? There are certain demographics that are growing quickly. It might be a great time to own a business that sells to the fast growing population of senior citizens. There are several types of businesses that sell to seniors. Some might provide skilled medical care, and others non-medical care. Still other businesses provide home modification services, installing wheel chair ramps, stair lifts, or shower adaptations. If you are providing this type of service, you might do very well in a world with a fast growing population of seniors. Corporate America has cut so many positions they have created an excellent opportunity for temporary staffing companies. Many retail businesses continue to do well â€" sales are way up at dollar stores. And, given more people than ever work from home, pack-and-ship stores are doing more business than ever. We could go on and on. Yes, this economy has hurt a lot of businesses. But it has also created opportunities for many others. There truly are some great recession resistant businesses. This might, indeed, be a great time to start a business. You just have to find one that has the right kind of market. Watch Now! You might think your dream of owning a successful business is unrealistic. You will see everything you need to do to make that dream come true. If you are frustrated with corporate America and have ever dreamed about starting and growing your own business, this webinar is not to be missed! Join us or this special presentation! Presenter: Dan Citrenbaum, Entrepreneur Coach.   WATCH NOW ?     About The Presenter Dan Citrenbaum is a Franchise Coach and Entrepreneurial Consultant, and is a franchisee himself. He has spent over 25 years helping small business owners start and grow their businesses, in order to achieve their dreams. He offers a free service to help people find an existing business to buy, or a successful franchise to start. View his company’s web site at www.EntrepreneurOption.com Mr. Citrenbaum can be reached at DCitrenbaum@gmail.com or at (215) 367-5349.   Photo Credit: Shutterstock Have you joined our career growth club?Join Us Today!