HMRC can demand sight of taxpayers’ private bank statements if it believes their declared business income does not support their private cash outgoings, the First-tier Tax Tribunal has found. It demanded full disclosure of all their bank accounts. …
How far back can a revenue audit go?
Generally speaking, Revenue can only go back five years after the end of the tax year or year of assessment in which the return is made. Andrews says this means that 2009 tax returns, for example, can be reassessed anytime up to December 31st, 2014.
Can a taxman force to see bank statements?
In effect, a “backdated rent book”. I purport that this is sufficient “documentary evidence of rental income” as they require. If taxman comes back on (2) above and asks for bank statements anyway, send them the statements with non-relevant lines blanked out. If taxman still resists, claim that he is not acting reasonably.
When does HMRC demand view of personal bank account?
HMRC can examine taxpayers’ personal bank account statements Monday, 03 December 2018 HMRC can demand sight of taxpayers’ private bank statements if it believes their declared business income does not support their private cash outgoings, the First-tier Tax Tribunal has found.
Can you force HMRC to see bank statements?
In previous enquiries I’ve sent HMRC photocopies of the statements with all irrelevant items blanked out. They didn’t like it much, but you only have to give them the information they SPECIFICALLY ask for. If put to the test they have to show that a request is reasonable.
Is there a time limit to get old bank statements?
The answer is there’s no time limit. Yet the problem is gathering evidence for older claims. While you can demand financial institutions send you old documents for up to six years (see the guides linked above for how), beyond that it gets tricky. The easiest way is to ensure you have the paperwork, as, this email I received recently, shows.
