The taxman has revealed the 13 firms approved to ascertain whether businesses
will be able to pay back their deferred tax bill.
Firms have been approved by HMRC to provide Independent Business Reviews
(IBR) for large companies seeking time-to-pay (TTP) arrangements.
The former government announced in its March 2010 budget that all businesses
seeking a TTP of £1m or more would need to pay an insolvency practitioner for a
The review would seek to adjudge the ability of the company to eventually pay
back any tax deferred by HMRC.
Following a consultation, which took place in January this year, HMRC
approved a panel of firms to conduct those reviews.
The panel list consists of: Baker Tilly; BDO; Begbies Traynor; Deloitte;
Ernst & Young; Grant Thornton; KPMG; Mazars; Moore Stephens; PKF; PwC; RSM
Tenon; Smith & Williamson.
A statement from HMRC said the outsourced process was subject to regular six
month reviews and inclusion was not “permanent”, but non-selection of a firm
would not rule them out in future.
The next review is due to take place in Autumn this year.
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy