10 Sep

Can The Taxman Investigate Your Computer Files?

The Taxman does have a right to inspect your records once he has issused a particular enquiry notice.  Recently we've had reports of taxpayers being told to give copies of their computer files to the Taxman.  This is a new scenario for the Taxman (already common with the VATman), so why are they doing this?

The Taxman has become more organised by using a computer interrogastion package called Interactive Data Action and Analysis.  So all he needs to have some fun is a copy of your data files to enable him to look at every single transaction in your books. 

However, you or your agent can write to the Taxman and politly refuse to hand over your records, due to concern over the risk of confidential data going missing (particularly in light of the recent data protection breaches with HMRC!).  In the meantime your agent can run off your ledgers in hard format for the Taxman to view (and therefore control what he sees).

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