Sch. 36 Finance Act 2008 has given HMRC new and more extensive powers to request information from taxpayers and also to allow HMRC officers to knock on the door of all businesses without warning, with effect from April 2009.
Although we are confident that HMRC will use these powers with great care and restraint, there is now the chance that any business may be targeted in this way. We expect that, without warning, an unprepared business receiving a visit will most likely experience real difficulties in answering questions or providing all the information that may reasonably be requested, and so many issues are likely to remain unresolved on the day.
Happily, all clients that are subscribed to our Tax Investigation Service (TIS) will now be covered for such visits, which means that we are ble to provide help and advice on the day of the visit (remotely), and subsequently help deal with any issues raised as a result of the visit, without cost (subject to the terms of the TIS).
Generally, our advice would be to contact your professional advisor if you have any concerns over this issue, without delay.
