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- Accountants warn of a new, "get tough" regime by the taxman...
Tuesday 18 November 2008 -
Dains are warning business owners of a new “get tough” regime which will be implemented from 1 April 2009 when HM Revenue & Customs’ (HMRC) power to obtain information and documents will be extended and HMRC will also be given new powers to inspect business premises.
The new rules mean that HMRC will be able to ask taxpayers for documents and information that is “reasonably required” to check their tax position, even where no tax return has been made or before a tax return is due. Additionally HMRC will have the power to require third parties to provide documents and information relevant to a taxpayer.
Andy McQuillan, Tax Partner at Dains, comments: “Taxpayers will be waiting with interest to see how HMRC puts these powers into effect from April 2009. So there is sure to be considerable interest in whether HMRC uses these wide-ranging powers wisely and well.”
For more information contact Andy McQuillan at Dains on 0845 555 8844
Primary offices at… Birmingham ● Burton ● Coleshill ● Lichfield ● Rugeley ● Swadlincote
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