Company tax returns ― HMRC powers

Produced by Tolley in association with

Corporation Tax

Guidance

CTSA enquiries and compliance checks

HMRC has the authority to investigate the tax affairs of all taxpayers. It can either open a formal enquiry into a specific tax return, or it can make a more general compliance check to verify a tax position, which need not be in relation to a specific tax return.

Enquiries

CTSA enquiries are formal procedures that take place to ensure that companies submit corporation tax returns which are both complete and correct.

An enquiry can start for a number of reasons. The enquiry could be ‘random’ ― generated by HMRC’s computer systems. A return could be subject to a ‘selected’ enquiry where HMRC has identified something on the return which it does not agree with, or wishes to ask further questions about.

HMRC also undertake ‘routine’ enquiries, although these typically involve very large companies, where the amount of profits and tax involved warrant a more collaborative approach to ensuring compliance.

Selected and routine enquiries may be avoided by the company making complete and thorough disclosure

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Anton Lane

Managing Partner, Edge Tax LLP , Corporate Tax, OMB, Employment Tax, International Tax, Personal Tax, IHT Trusts and Estates

I started my career helping to sort out tax problems for high net worth individuals, corporations and high profile clients under investigation for suspected serious fraud at Ernst & Young. I specialised in anti avoidance legislation targeting offshore structures and held senior positions with large offshore fiduciary service providers. I established the Edge brand over a decade ago and in 2012 focused the main business on managing tax risks, handling suspected serious fraud cases and assisting clients and advisers with disclosures to HMRC.

Popular Articles

Owner-Managed Businesses

Allowable deductions for employee-related expenses

Allowable deductions for employee-related expensesThis guidance note covers the tax treatment of some common types of trading expenditure relating to employees. Some of these are disallowable under general principles, for example the wholly and exclusively test or capital versus revenue expenditure.

14 Sep 2022 09:49 | Produced by Tolley Read more

Owner-Managed Businesses

Class 4 national insurance contributions

Class 4 national insurance contributionsWhat is Class 4 NIC?Class 2 and Class 4 national insurance contributions (NIC) are paid by self-employed individuals and partners in a partnership on their profits arising within the UK. This guidance note considers Class 4 contributions. For Class 2

14 Jul 2020 11:13 | Produced by Tolley Read more

Spring Budget 2024

Corporation Tax

Corporate interest restriction ― administrative aspects

Corporate interest restriction ― administrative aspectsThe corporate interest restriction (CIR) regime has some specific administrative rules in addition to the general administrative requirements for corporation tax returns. This guidance note does not include commentary on provisions that are

14 Jul 2020 11:19 | Produced by Tolley Read more

UU��ֱ��