When the authority examines your affairs.
WHAT TRIGGERS THEM
Routine selection Inconsistencies in filings Sector focus Third-party information Complaints
WHAT TO DO ON NOTIFICATION
Note the scope and the period Establish who will handle it Engage your accountant or tax practitioner
WHAT TO PREPARE
Filed returns Financial statements Ledgers and supporting documents Evidence of remittances Contracts and invoices
WHAT TO DO ABOUT RECORDS YOU CANNOT FIND
Say so, rather than improvising.
WHY
Fabricated or inconsistent documents make everything worse.
WHAT TO PROVIDE
What is within scope.
WHAT NOT TO PROVIDE
Anything outside it, unprompted.
WHAT TO DO DURING MEETINGS
Take notes Confirm understandings in writing Avoid speculating
WHY
Statements made informally are relied upon.
WHAT TO EXPECT
Queries on specific items Proposed adjustments
WHAT TO DO ABOUT PROPOSED ADJUSTMENTS
Respond with evidence, within the period allowed.
WHAT TO SETTLE
Amounts genuinely due.
WHY
Interest accrues.
WHAT TO DISPUTE
Adjustments you can evidence as wrong.
WHAT TO KEEP
Everything exchanged.
WHAT TO DO AFTERWARDS
Address whatever caused the queries.
