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Opinionated enquiry

05 February 2008
Issue: 4144 / Categories: Forum & Feedback , HMRC powers
Confirming when and whether private bank records should be produced during an enquiry

HMRC has raised an enquiry into a client's self assessment tax return. In his opening letter asking for information and documentation the Inspector has said: 'Where the accounts are not based on a robust and effectively operated record keeping system and/or include unvouched or unverified sums other than of a minor nature statements in respect of any other bank/building society accounts held'.

The Inspector is asking for our professional opinion on the bookkeeping.

He is asking us to revisit our work to check what is unvouched or unverified (and also effectively to express an opinion on what is an appropriate level of verification).

He is inferring that less than 100% vouching entitles him to sight of private bank and building society statements.

We should be grateful for suggestions as to the best response here.

Query 17 149 – Heavyweight.

Reply from Scorpio

The production of private bank and...

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