HMRC face-to-face visits set to create headache for offshore companies

HM Revenue & Customs (HMRC) has launched a new campaign aimed at gathering more accurate information from employers via face-to-face visits.

The move could prove problematic for any offshore businesses that will be required to work closely with] HMRC in providing up-to-the-minute accurate data for their tax records.

This new initiative, dubbed the Targeted Employer Support (TES) scheme, has been set up to focus on the tax data quality issues that have recently plagued HMRC.

It follows concerns that UK businesses and employees are not providing accurate tax data.

This data relates to basic errors like dates of birth, names and national insurance numbers but nevertheless is crucial to the work of HMRC.

From early next year HMRC will begin visiting at least 1,000 UK employers with notable amounts of data quality issues.

All of which makes it imperative that these organisations, some of which may utilise offshore company registration ensure details are up to date.

HMRC’s Stephen Banyard, acting director general for personal tax, said: “Every year, employers send PAYE data to HMRC. While most is accurate, mistakes can be made.

"This can cause problems for employees such as wrong amounts being deducted from their pay. It can also use up valuable employer and HMRC time and money putting the error right."