.png)
.png)
A client's tax return for the year 2000-01 revealed a one-off substantial receipt of dividend income. No enquiry was made by the Inspector. However an enquiry has been opened (in time) into the client's 2001-02 tax return. The Inspector wants to know what the client did with the investment income received in the previous tax year and has requested details of dates and amounts with the threat of the issue of a notice under section 19A Taxes Management Act 1970.
I consider that the time for the Inspector to have raised this point was when the previous tax return was received and that it is now too late for the Inspector to ask for details of transactions in that year.
Readers' views are sought as to whether the Inspector is entitled to request this information.
(Query T16 471) —...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
