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Issue:
4909
/
Categories:
Comment & Analysis
, compliance
, HMRC investigations
, Risk management
, Business
, Investigations
Probing questions
Key points
- Business enquiries can significantly disrupt the owners’ lives and/or their finance team’s and/or their advisers’.
- HMRC’s large business directorate manages around 2 000 businesses with large turnovers and its wealthy and mid-sized business compliance directorate oversees approximately 160 000.
- Consider the role of the customer compliance manager.
- Beware of handling requests for information where sampling should be offered and encouraged.
- Understanding the risk-based approach HMRC takes ensures the scope of these enquiries is narrowed.
Whichever part of HMRC the comparatively larger business is the target of these corporate enquiries are typically carried out by a team of officers. This calls for increased resources being required at the business’ end ie more people and time resources and so costs too. These enquiries are not to be confused with regular compliance checks into personal tax returns or simpler corporation tax returns which typically focus on a single tax...
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