Personal bank statements again!
Whilst been discussed many a time on here I'd just like to run our situation through with others for opinions, feedback, thoughts, arguments etc.
We're a small accountancy practise (two man pship) and an enquiry is being made into our partnership return (10/11), all records have been provided by hand to the inspector per his detailed request, which match the figures on the return. Our records are, in my opinion at least, perfect, as should any accountancy practice be.
Now we've received a letter back stating that because we didn't bank the cash income declared he wants to see our personal bank statements, credit card etc in our own names. In response I've replied cash wasnt banked due to bank charges plus it was used to buy business expenses (of which a full analysis was provided with supporting invoices). Also told the inspector he's being unreasonable and that there are no rules that stipulate cash income must be banked, as long as its declared.
Have yet to hear back but can assure we will fight tooth and nail with HMRC on this one for the general privacy and rights of decent tax payers.
Anyone who can share similar experiences be appreciated.
- Non resident income. 436 20
- What sectors to target? 599 30
- FYAs on second-hand vans 247 7
- Rent a room scheme query. 175 3
- client can't/won't pay 1,923 41
- Self assesment online 981 11
- UKBA financial requirements for spouse visa 254 21
- Why do I do this every year 393 9
- Watch out self-assessment scam e-mail 296 5
- closing limited company 161 2
- VAT when selling on Amazon 81 1
- HMRC filing meltdown? 509 14
- Childcare voucher schemes 245 9
- IHT and US resident 56 1
- Limited Companies Merger 208 6
- Incidental costs of Acquisition for inherited property/shares 134 1
- Practice management 380 7
- IHT and cash gifts 245 5
- HMRC Sends Derbyshire pensioner Doug Yeomans tax demand for £4.7 BILLION! 554 13
- Pounds Shillings and Pence 1,599 42
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 926
- Underpaid VAT assessment and relation to SATR 645
- Did you realise Google will not patch android exploit ... 596
- Latest phishing scam 578
- Cashback for opening business bank acct = trading income? 413
- Auto Enrolment Questions Answered 310
- Scratch Head 239
- Loan benefit after person ceases as director/employee 229
- Sabbatical payments 195
- Negligible Value Claim 171