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Cross-tax enquiries.
KEY POINTS
- HMRC’s WMSBC monitors businesses with turnover between £10m and £200m.
- Opening letters do not include the reason for the enquiry.
- Asking HMRC to be transparent about perceived risks may speed up the enquiry’s progression.
- HMRC’s enquiry co-ordinator may be a useful liaison point.
Much media attention on tax evasion and avoidance is focused on multinational corporations or the rich and famous but HMRC is increasingly targeting non-compliance by more ordinary businesses and their owners which accounts for a significant proportion of the tax gap.
HMRC’s wealthy and mid-sized business compliance directorate (WMSBC) is responsible for monitoring compliance of more than 100 000 businesses with turnover between £10m and £200m. During 2015 HMRC’s high net worth unit which deals with individuals whose wealth exceeds £10m was incorporated into the WMSBC.
The...
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