HMRC’s ‘Working Together’ – New Issue
The latest edition of Working Together has been published by HMRC. This edition covers a significant number of areas across all taxes relevant to taxation professionals.
The main topics covered are as follows:
- Working Together groups. An update on the forum for HMRC officers and tax professionals to meet at a local and national level to discuss mutual areas of interest.
- Handling self assessment and PAYE post. HMRC have taken steps to improve the service currently provided and acknowledge that delays can create more work for both agents and HMRC.
- General post handling. HMRC are also committed to improving its general post handling system such as improving the process for identifying urgent post and ensuring that ongoing correspondence is handled by the same team.
- Penalties for off-shore non-compliance. A reminder that from 6 April 2011, taxpayers avoiding tax by hiding money in offshore accounts could face new penalties of up to 200% of any tax they may evade.
- Excise fraud. From 1 April 2011, new legislation took effect which increases HMRC’s inspection and information powers to investigate and tackle excise fraud.
- Managing deliberate tax defaulters. Details of a new programme which seeks to closely monitor the tax affairs of individuals, businesses and companies that have been classed as deliberate defaulters.
- Online VAT returns. From April 2012, virtually all VAT registered businesses, including those with an annual turnover of less than £100,000 – will have to submit their VAT Returns online and pay electronically.