HMRC expects the calls to cover changes in circumstances or life events that have an impact on the individuals’ tax affairs, unusual or one-off transactions and uncertain tax treatments, where the provision of background information would provide useful context to return entries.
Taking part in HMRC’s pre-filing conversation is entirely voluntary. HMRC has confirmed that if any taxpayer decides not to take part, this will not be considered a concern. The letter confirms that HMRC cannot give tax advice or review any tax planning products. The conversation will not replace any existing HMRC services.
ICAEW’s Tax Faculty recommends that if a taxpayer wishes to engage in this conversation, there should be a pre-discussion with HMRC to clarify what topics are going to be covered, who will attend from HMRC, and what the expectations about next steps are on both sides.
The faculty also advocates that an appropriately qualified adviser should join the call.
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