The Power to Visit Business Premises and Check Assets and Records
Inspection powers allow an officer of HMRC to enter business premises and inspect the premises, business assets and statutory records.
If an information notice has been issued earlier, the documents required in that notice could be inspected at the same time.
FA09 incorporates into Schedule 36 inspection powers in respect of the:
- business premises of Involved third parties
- valuation of premises for IT or CT
- valuation of premises and any other property on the premises for CGT, CT in respect of chargeable gains, IHT, SDLT and SDRT
These inspections:
- must only be undertaken where it is reasonably required to establish the tax position and
- will normally be by prior arrangement, the date and time being convenient to the taxpayer.
