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Now it's round three

14 April 2005 / Rebecca Benneyworth
Issue: 4003 / Categories: Comment & Analysis , Income Tax , Investments

REBECCA BENNEYWORTH recommends that practitioners keep their guard up when dealing with tax credit renewal claims.

REBECCA BENNEYWORTH recommends that practitioners keep their guard up when dealing with tax credit renewal claims.

TAX CREDIT RENEWALS are upon us again and those practitioners acting for smaller businesses and personal tax clients may like to pause and reflect on the story so far and where this is likely to take us. Many practices started from the basis that tax credits were really state benefits and had little or nothing to do with the tax system and so should not affect the average small accountancy practice. Indeed this was the view taken by those involved in developing the tax credit system and therefore little or no provision was made for those individuals with professional representation to be dealt with by their adviser. It also meant that the normal consultation channels with the professional bodies were not used during the development of the system.

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