Well, I’ve discovered that quite a number of local compliance offices are opening inquiries into the 2005/2006 self assessment. So your local compliance office may be looking into more than your figures for 2005/2006. Don’t be surprised then to find Section 20 being used energetically to go back quite a number of years.
There are many of us who do not accept the Revenue’s (now HMRC’s) old chestnut about random investigations. My experience has been that quite a lot of work is done to decide whether or not someone or some company comes within the so called “random investigation”.
You have been warned! Run and get a specialist tax investigator to handle the case, take away the worry and save your money.
I recently took over a case where the Revenue had asked for and received £25,000 on account from my client. When I went further into the case I found this had been paid based on what my client had been told by the Revenue, which turned out to be totally wrong.
I am now in the process of trying to get that money back and have blown away the proposals which would have made my client liable for another £25,000 at least.
Watch this space …