February 17th, 2010
The way HMRC carry out the following, are going to change beyond recognition:
- Employer compliance reviews
- Tax investigations
- Tax enquiries
- PAYE/NIC investigations
- PAYE investigations
and if you’re not up to speed it’s going to be a real shock to the system. If you’re advisor is unaware then be really concerned and give EICG a call on 01744 885871 to see how we can help you: before and during a visit.
HMRC Cross tax reviews is just one example of this, so moving away from potentially three visits in a year to a visit combining PAYE/NIC, VAT and Corporation tax. For very large businesses this has been trialling with a team of HMRC officials visiting (oh what joy) and is based on extensive reviews of other tax systems across the world. However, this is likely to be cascaded downwards to other sizes of business with the use of a newly retrained general tax practitioner – as you can imagine this has pro’s and cons as anyone who deals with a specialist area of tax knows it is just that, specialist and not generalist, so my advice is don’t let someone “have a go” on your behalf use specialists, as we have at EICG to cover these areas.
Keep on reading for further updates on what is an ever changing Inland Revenue approach to solving the national debt!