Inspection Powers The HMRC are now working to one set of Inspection Powers to use in Enquiries and Investigations. These cover PAYE, VAT, Income Tax, Capital Gains Tax, Corporation Tax and the Construction Industry Scheme. There are also new record keeping requirements, time limits for tax assessments and claims.
HMRC will have power to: Visit businesses to inspect the premises, assets and records. Also have the right to visit your home, if that is where you work.
Ask taxpayers and third parties(e.g. your accountant, bank and business contacts) for information and documents.
What does it mean for you the client? Accountants and Tax Advisers will have to be very familiar with the new rules and will need to keep their clients' informed of their rights, and to use the limited protections available, and to be able to defend them from HMRC's unjust use of their powers.