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New COP 9 published |
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HMRC Code of Practice 9 has been updated to take account of the new appeals process and penalty regime that came into force on 1 April 2009. HMRC will investigate any situation where they suspect serious tax fraud. The investigation will be undertaken with or without the tapxpayer's voluntary co–operation. However, if the paxpayer does co–operate, HMRC say that the investigation will proceed more quickly, efficiently and advantageously for both parties than if the taxpayer refuses to co–operate. Code of Practice 9 is designed to help the taxapyer make an informed decision on co–operation by setting out how HMRC carry out such investigations and how, through full co–operation and disclosure of irregularities, the taxpayer may achieve a significant reduction in any penalty found to be due. The Code of Practice covers direct taxes, including income taxes, Corporation Tax, Capital Gains Tax and National Insurance contributions and indirect taxes including VAT and Excise and Customs duties. HMRC state they will keep an open mind to the possibility that there may be an innocent explanation for the suspected irregularities. They also undertake to treat taxapyers fairly and courteously and in accordance with the law. The new version of COP 9 is available on the HMRC website at http://www.hmrc.gov.uk/leaflets/cop9-2009.htm.
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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, 29 May 2009 |
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