Finance Bill allays fears over taxman's investigatory powers
Tax experts have greeted a curb on the extent that the new Finance Bill hasbeefed-up the taxman's powers to seize documents from accountants, banks andlawyers suspected of fraud.
Government concessions built into the bill have allayed business fears that new’heavy handed’ measures would allow the Inland Revenue raid offices with searchwarrants to obtains clients documents.
New powers will allow the taxman to obtain an order from a circuit judgerequiring suspects to hand-over documents normally within 10 days.
The proposed measures aim to allow the Revenue rapid access to sensitivedocuments without the need to obtain a search warrant.
The tax fraud measures will no longer allow the Revnue to seize documents thatare protected by legal privelage.
Brian Baker, national director of revenue enquiries at top 10 charteredaccountants HLB Kidsons said: ‘If the powers are not abused they will bewelcome.’
