HMRC has been asking for direct access to accountancy softwares such as #QuickBooks and #Xero to access electronic records for tax investigations. This is a result of tax going digital.
23% in a recent poll I conducted said they would give HMRC access and 20% said it depends on the situation. That would be 43% would give access to the accountancy software.
It is not compulsory for taxpayers to give access directly to the software. This cannot be enforced legally. The taxpayer/agent would be giving unlimited access to all records for the period the business has been using the software. You cannot give specific access to HMRC to review specific records for a particular accounting period even if you grant HMRC a viewers access to the software.
You can satisfy HMRC requests for electronic records by downloading the reports and records and providing it to HMRC.
52% of the voters said no, they would never give access and 7% had other views or options in the topic. It’s good that 52% knows their rights and would not give unlimited access of records to HMRC.
