Chartered Accountants, Coleraine, Northern Ireland
Tel: (028) 7035 5186
Since the introduction of H M Revenue & Customs (HMRCs) increased powers of investigation, Peninsula Taxwise have reported that they have seen a significant increase in their use of these powers.
In particular the power to inspect premises, formally the preserve of the VAT Officer, was extended to include indirect taxes, a harsher penalty regime was introduced and HMRC were given the ability to informally check any past, present or future tax liability.
Taxwise have identified four examples of where HMRC are using these new powers:... continue...