Market leading insight for tax experts
View online issue

HMRC’s guidance: what is it good for?

Speed read
Taxpayers and advisers make widespread use of HMRC’s guidance when interpreting the tax legislation. However, the guidance is often of limited value in a dispute with HMRC, and there is an increasing trend of HMRC ‘clarifying’ guidance, sometimes with purported retrospective effect. Taxpayers and advisers should properly distinguish between statements on which reliance can be placed, and mere expressions of HMRC’s opinion. Only reliance on the former is generally capable of protecting taxpayers from future challenge. When taxpayers do rely on guidance, they should clearly document this reliance and retain that documentary evidence in case of a later challenge.

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
EDITOR'S PICKstar
Top