At the moment HMRC is in a rush to revolutionise the tax system and it is creating many troubles for businesses. This week’s announcement of the closure of all 281 of the department’s enquiry centres has been met with a sense of disbelief and astonishment by those in the industry.
HMRC’s decision to commence business record checks has not been greeted with complete enthusiasm. According to the Chartered Institute of Taxation, there will be many problems of interpretation. It also makes the serious point that HMRC still intend to charge penalties in year, where their power to do this is at least doubtful.