Orange & Gold Blog

Accountants seek advice on HMRC powers.

There has been a massive increase in accountants consulting experts about HM Revenue & Customs’ powers to access filed tax returns.

The new powers came into force on 1 April 2009 and extend the amount of time within which HMRC can demand statutory books and records from one year to six.

CCH, the tax and accounting information and software provider, has experienced a 400% increase in the number of accountants contacting it about the issue.  In theory, tax inspectors cannot request information for returns where the enquiry window has closed, but if they are suspicious of under-assessment they can demand access to the client’s books and records.