From 1 April 2013, HM Revenue & Customs has introduced the Managing Serious Defaulters Programme, effectively to increase the scope of the Managing Deliberate Defaulters Programme.
The original Programme which was introduced early in 2011, aimed specifically at those taxpayers (including businesses) who had been found deliberately to have understated their tax liability, or had been investigated under Code of Practice 9 (COP9) procedures.
The new regime – Managing Serious Defaulters – will also target those
- Who have been charged a penalty for dishonesty, or
- Who are required to give financial security – a “bond” – more commonly for VAT or PAYE/NIC, or
- From whom an Insolvency Practitioner has successfully recovered funds on behalf of HMRC
As with the original regime, those who are included in the new Programme can expect closer scrutiny of their tax affairs, such as
- Visits to review records, (announced or unannounced), potentially to include pre-return checks,
- Requests for further information to be included in tax returns, and/or
- Observation visits
This more rigorous attention will last anywhere between 2 and 5 years.
More information can be found at Managing Serious Defaulters Programme
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