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HMRC internal manual

Enquiry Manual

From
HM Revenue & Customs
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Recalculating Profits: Private Side - Capital Statements: Who should Prepare?

Accountants will usually be familiar with capital statements. In Specialist Investigations cases it is common for accountants to prepare such statements as part of a detailed report on the taxpayer. There is no reason why this should not happen locally where you have found substantial omissions in the current year.

(This content has been withheld because of exemptions in the Freedom of Information Act 2000)

  • (This content has been withheld because of exemptions in the Freedom of Information Act 2000)
  • (This content has been withheld because of exemptions in the Freedom of Information Act 2000)

In practice you will almost always find that you will be preparing capital statements yourself. It is important to decide at an early stage exactly what information you will need and request it from the accountant and taxpayer. If it is not forthcoming then you will have to consider taking appropriate forcing action.