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HMRC internal manual

Specialist Investigations Operational Guidance

Settlement by agreement: means to fund the offer: updated statement of assets, and so on

When serious means problems have been identified such that any offer made is likely to be means restricted, then a statement of assets to a convenient current date will be required.

It will save time if the updated statement is requested before the settlement meeting.

An SI Accountant can assist the Investigator with the request for relevant financial information, and interpret that when received to determine the viability of proposed instalment offers.

Further information will often be desirable, depending on the circumstances of the individual case. For example an adviser may have available cash flow forecasts, current management accounts, a business plan, correspondence with banks on borrowing limits, and so on. All of this may help indicate what a taxpayer and the business can fund in a negotiated settlement.