Content
More of the same?
Around the world
Hot tips
Inside out?
Sweet sacrifice
Simple trust
Done and dusted?
Open immediately
File under E
An Inspector calls
CO still OK
Open for business
High PHI
Arctic chills
Duty calls
Pensions
Fuelling around
WIP round
Win some, lose some
Take it and go?
Party talk
Work less, earn less
Making adjustments
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If you are unlucky, your tax return may be questioned by the Revenue, or your VAT return by Customs. You might have to answer questions by correspondence, or you might have a visit, usually at your business premises. Now Customs and the Revenue have merged, there are possible problems. Customs officers have traditionally had far greater powers when carrying out inspections than Revenue officers looking at tax. At the moment, there is no plan to increase the tax inspectors' powers to match their VAT colleagues, but there's plenty of scope for confusion, particularly if you have a visit which looks at both areas at once. If you decide to deal with them on your own, there are some important points to remember. They should just ask questions and look at your books and records - they can't carry out a search without a warrant, and they shouldn't go poking around without your permission. If they ask you a question to which you don't know the answer, it's much better to tell them you will look it up and write to them later. They can't demand an instant answer, and people often create big problems for themselves by giving a wrong answer off the cuff and then trying to correct it later. It's also useful to keep a note of the name of the officer, and a record of what you discussed and any comments that the officer made on how you do things. If you asked for information during the visit - or assurance that you are doing something right - it's important to confirm it in writing afterwards. Although you don't always need to have your advisers present for a visit, it may be particularly useful at the moment. If HMRC ask to carry out an inspection, we will be happy to advise you.  |