Tax: Tax Matters - No doubt about it

A recurring theme in exchanges between the Inland Revenue and tax advisers is how far the Revenue is entitled to information about the taxpayer's affairs. This frequently involves requests for private bank statements. The recent case of Slater Ltd v General Commissioners [2001] STI 1699 dealt with another area of enquiry - whether a small company was obliged to provide the Revenue with a detailed profit and loss account. Many may wonder why this should ever be doubted. The taxpayer was a small company within the meaning of the Companies Act 1985 and entitled to file abbreviated ...