HMRC benchmarking project widens

The HMRC benchmarking team is targeting more trade sectors and extending it to VAT returns.

There’s nothing new about benchmarking. In looking at taxpayers’ accounts, HMRC staff have always used a variety of business ratios to identify businesses falling outside of expected norms – as explained in HMRC Enquiry Manual. What’s new is that HMRC’s use of technology for risk analysis is becoming ever more sophisticated, and the threat of HMRC enquiries on client records is becoming more real.


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