View more on these topics

HMRC to come into self employed homes

HM Revenue & Customs has revealed that from next month it will be allowed to visit and investigate any self-employed person’s home which is deemed a work space.

The extension of HMRC’s powers could affect thousands of business people and sole traders who claim expenses for “use of home as an office”.

HMRC says its changes from April 1 will be the “most significant changes to HMRC’s powers since the enactment of the Taxes Management Act in 1970”.

Smith & Williamson head of national tax investigations Sue Holmes says: “The many thousands of business people and sole traders who claim expenses for ‘use of home as an office’ should recognise, that from next month, HMRC has the right to enter their home to inspect business records. This power includes visits to any business premises, including any part of a residential home used as an office.”

Moreover, if the inspection is approved by an authorised officer, HMRC is not required to give any advance notice.

Other changes included in its overhaul of powers mean that HMRC will also be able to request information relating to transactions, to assess the likely ‘tax position’ of an individual. This will include past, present or future tax liabilities, whereas in the past only historical transactions were enquired into after the submission of tax returns.


Platforum lines up conference

The Platforum has unveiled the line-up for its wrap and platform conference in London in May.

NU scheme aims to help graduates become advisers

Norwich Union has set up a new adviser training programme in a bid to encourage more graduates to take up a career in financial advice.The firm says its future adviser programme is designed to attract graduates at a time when the challenges of the retail distribution review could potentially see the number of advisers fall […]

IFAs back mortgage regulation

A Money Marketing poll reveals 58 per cent of IFAs believe the FSA should move to product regulation in the mortgage market while 42 per cent voted against greater regulation.

Europe: Volatile share prices create opportunities for long-term investors

Mark Page and Laurent Millet, managers of the Artemis European Opportunities Fund, look at why, how and where fluctuations in European markets can generate opportunities for their fund. When asked what the stock market would do next, John Pierpont Morgan is reported to have replied that “it will fluctuate”. His (apocryphal) answer proved accurate. Over […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm