Galloways Accounting reposted this
Are you ready for an HMRC visit? HMRC have announced that they will be recruiting 5000 new staff by 2029/30 to help them tackle the Tax Gap. Recruitment has already started with 200 joining this month. What does this mean to you? You never know, it might mean that they will answer their phones quicker but more likely is that compliance reviews will increase. A lot of businesses have got used to a lack of attention from HMRC – many VAT registered businesses have not had a "VAT inspection" for years unless their affairs have been unusual - this increased workforce will mean that more VAT registered businesses are likely to be "visited" within the current four year capping window. Are you ready for an intervention? At Galloways we can help you with this process- kick the tyres, so to speak, to make sure that there is no ticking time bomb. Contact me if you want to discuss your requirements.