Accounts: What do I do if I have any queries arising from the annual accounts checks?
If you have a query arising from annual accounts checks, there a number of stages to follow.
You should first approach the trader for his explanation of the discrepancies /credibility query. If you are satisfied with his explanation, then you should simply note your report accordingly, and take no further action.
If you are not satisfied with the trader’s explanation then the next stage is to consider the implications with regards to both the excise regime and any other HMRC regimes. If you are happy that there are no implications, then you should note this in your report and copy to ACCT. If you feel that there are implications for other HMRC regimes, then you should inform the relevant area of the Department and note it in your report. If you are unsure whether there are implications within excise, you should discuss them after with your line manager, and consider whether it would be appropriate to approach the relevant UofE or the Departmental accountants for advice.
If you feel that the issue in question will have implications within the excise regime, you should consider whether, based on the information held, you are in a position to raise an excise assessment or able to take other sanction action, such as revocation of any registration or approval. If you are, you should raise the assessment or take the appropriate sanction action, note this in your report, and forward a copy to ACCT. If you feel that you still do not have sufficient evidence to take immediate action, for example, the risk to the revenue cannot be quantified at this stage, then, in collaboration with your line manager, you should set in place an assurance program to quantify / establish the risk, and notify ACCT of any results.