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| Compliance checks consultation announced |
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HMRC have announced that an implementation team is to be formed, which will be responsible for producing Technical and Operational Guidance, together with a comprehensive learning package. All these three elements will be the subject of external consultation. The Finance Act 2008, which has recently received Royal Assent, provides for aligned information and inspection powers, rules for record-keeping and time limits for assessments and claims. The legislation stems from work undertaken by HMRC’s Review of Powers, Deterrents and Safeguards and has been the subject of wide consultation. It is envisaged that Technical Guidance will be put to external consultation by the end of September. Operational Guidance will be produced in sections and once a section is completed, consultation will be sought. The implementation team wish to work collaboratively with businesses and their representatives and welcome early contact and views ahead of the process outlined above.
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About The Author  Sarah Laing Sarah is a Chartered Tax Adviser. She has been writing professionally since joining CCH Editions in 1998 as a Senior Technical Editor, contributing to a range of highly regarded publications including the British Tax Reporter, Taxes - The Weekly Tax News, the Red & Green legislation volumes, Hardman's, International Tax Agreements and many others. She became Publishing Manager for the tax and accounting portfolio in 2001 and later went on to help run CCH Seminars (including ABG Courses and Conferences). Sarah originally worked for the Inland Revenue in Newbury and Swindon Tax Offices, before moving out into practice in 1991. She has worked for both small and Big 5 firms. She now works as a freelance author providing technical writing services for the tax and accountancy profession. |
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Article Added Friday, 15 August 2008 | 891 Hits |
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