Commentary

V7.311 Powers of HMRC—new powers from 1 April 2009

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.311 Powers of HMRC—new powers from 1 April 2009

Part V7 Tax planning | Commentary

V7.311 Powers of HMRC—new powers from 1 April 2009

The way that HMRC carries out compliance checks (VAT inspections) was changed on 1 April 2009. The new system is designed to make the tax system simpler and more consistent.

From this date, HMRC will have one set of powers covering all taxes:

  1.  

    •     a set of powers to examine business records without a right of appeal

  2.  

    •     the ability to inspect business records, assets and premises

  3.  

    •     the ability to correct errors going back four years – in the case of VAT, this used to be a three-year limit. The 20-year limit for correcting fraudulent errors remains unchanged

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