To advise or not to advise

Anyone or any business seeking advice from HMRC on how legislation is interpreted is presently given an answer based on the Code of Practice 10 (Information and Advice). From 30 September this Code is being replaced with something called CAP1. Under CAP1 there is no difference between a taxpayer

Anyone or any business seeking advice from HMRC on how legislation is interpreted is presently given an answer based on the Code of Practice 10 (Information and Advice). From 30 September this Code is being replaced with something called CAP1.

Under CAP1 there is no difference between a taxpayer that is a business or a private individual or indeed what is a business activity. Further, HMRC will not help you plan a tax arrangement and nor will they approve of plan. They will, however, clarify a proposed transaction.

Remember, that if you do not agree with or follow an opinion given by HMRC and you choose a different view on the subject, that you will have to disclose this in your tax return.
This was first published in August 2011

MicroScope+

Content

Find more MicroScope+ content and other member only offers, here.

0 comments

Oldest 

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to:

-ADS BY GOOGLE

ComputerWeekly

SearchITChannel

Close