Lambs to the slaughter
Simon Sweetman looks at the impact of enquiries on unrepresented taxpayers.
I have just had a case brought to my attention by a local accountant ' an accountant who is a lot more aware than most local accountants when it comes to tax matters. The chap who came to see him had just been through an enquiry where the Inspector carried out a cash reconciliation and decided that profits for the year were understated by £15,000. This was on the basis that (as was agreed) all the wages were paid in cash.