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HMRC internal manual

Corporate Intangibles Research and Development Manual

Intangible assets: GAAP: conformity with: need to involve HMRC compliance accountants

Essential that HMRC compliance accountants closely involved

Where the question what figures conform with GAAP is, or may be, at issue, the close and early involvement of HMRC compliance accountants will normally be essential.

In particular:

  • it will usually be essential to involve an HMRC compliance accountant at the preliminary fact-finding stage (see CIRD30120) to ensure as far as possible that enquires are well targeted,
  • following the completion of fact-finding, the contention that a company’s accounts are not in accordance with GAAP should only be advanced with the agreement of an HMRC compliance accountant who will, if necessary, discuss the case with colleagues and must refer it to the Commissioner’s Advisory Accountant.