HMRC checking loss making businesses

HMRC don't like losses

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HMRC seem to be checking up on sole traders making losses. We've had several enquiries over the last couple of months, especially where tax credits are claimed. I'm guessing they are computer generated and they are not really looking at the returns before sending out letters as some are only losses because of AIA claims, but when you talk to them they still want you to answer the questionaire which includes searching questions such as "how much did you spend on advertising?" This one was sent to a farmer who'd bought a tractor! Really!!

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RLI
By lionofludesch
09th May 2016 18:22

The Boomtown Rats didn't like Mondays but they still keep coming along.

Losses are pretty much the same.

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