While there was no Halloween Brexit, HMRC decided to drop a little note to add a bit of action to the end of the month. Late on Halloween, they published a technical note about certain automated tax decisions under the current tax system. While they claim the technical note won’t affect taxpayers, there is some cause for concern. Today, we’ll look at the policy and examine questions like:
• What are the current issuing policies for automated notices and penalties?
• What is the technical note trying to solve and how?
• What does the retrospective nature of automated tax decisions mean?
• What should you do?