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Glasgow Business . 17


We are seeing a growing focus by HM Revenue and Customs (HMRC) on the imposition of penalties, specifically in relation to tax errors. With “careless” errors atracting penalties of up to 30 per cent of the tax error, the amounts involved can be significant. Since the introduction of the new penalty

system in 2008/09 (depending on the tax involved), HMRC’s focus has shiſted away from the size of the error towards the behaviour that led to the error arising. Tus, the systems, processes and controls a business has in place to control its tax obligations are coming under increasing scrutiny. Te UK’s largest businesses already have to contend with Senior Accounting Officer rules, which require a nominated individual to certify annually to HMRC that the business’s tax controls are robust – and where they are found not to be, the individual signing is personally liable for a penalty.

In conjunction with

Taxation advice from the award-winning UK member firm of the BDO International network, the world’s fifth largest accounting organisation

The specialists

With this in mind, we have provided below our five top tips for avoiding a tax penalty: » Ensure all tax returns (including VAT returns) are submited and any liabilities are paid on time

» Review tax processes and controls on a regular basis, to ensure they are updated for any changes in legislation

» Carry out sample testing of the data being input to the accounting system on a regular basis (either in-house or using your professional adviser) to detect any potential input errors that may have a tax consequence

» Take professional tax advice where your business encounters a one-off or unusual transaction

» In the event an error is discovered, speak to your advisers and make a full disclosure to HMRC without delay – this will, in itself, mitigate the level of any penalty.

FIND OUT MORE Worried about a tax issue? If you have any concerns in relation to an ongoing tax enquiry or would like to speak to us about resolving an issue you may have, please contact one of our advisers on a confidential basis who would be pleased to explore the potential options available to your business.

Martin Bell, Partner T: 0141 249 8488

E: martin.bell@

Andrew Colville, Director T: 0141 249 5237

E: andrew.colville@

Ross Marshall, Senior Manager T: 0141 249 5250

E: ross.marshall@



Did you know in the UK last year 22.7 million working days were lost due to work-related illness, with stress, depression or anxiety and musculoskeletal disorders accounting for the majority of days lost? (Source: Looking after your employees is

an investment for your business resulting in a reduction in absenteeism and increased productivity. In times of limited resources and increasing workload demands it can be difficult to ensure you are looking after your employees’ health and wellbeing. Reid Kerr College is currently offering courses/

awareness sessions on a range of health and

wellbeing topics that can help maintain a healthy

workforce, boost morale and

potentially increase productivity. Courses include:

» Stress Management » Drug and Alcohol Awareness » Introduction to Counselling » Diabetes Awareness » Blood Pressure Awareness. We can deliver training in the

workplace or at the College, and we offer online Distance Learning options for some courses. We can also create bespoke

training programmes to suit your individual needs.


For more information please contact Maureen Macpherson on 0141 587 3375 or email

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