In the last couple of weeks, we
have identified a new initiative within HMRC which appears to be known as the ‘Dash
for Cash’.
The Inspectors we have spoken to
have told us they are being tasked to bring in as much money as possible, as
quickly as possible, which is not really surprising given the current economic
environment. We understand there will be pressure to settle long running
full enquiry cases and Inspectors will be encouraged to take up aspect cases
which are likely to be settled more quickly to optimise the tax yield in the
current fiscal year.
There were twice as many tax
investigations started in June 2010 as they did in June 2009, confirming that
HMRC are ‘on the move’ again and we are expecting that enquiry levels will
continue to increase over the coming months. If you receive an enquiry letter
please give us a call on 01909 472310