Organisations in Bradford and elsewhere are being advised to review their compliance procedures following HMRC’s introduction of Structured Risk Reviews (SRRs) targeting the charity sector.
Siobhan Holmes, partner at accountancy firm Azets and a specialist in charities and not-for-profit organisations, said: “We expect payrolls, tax returns, VAT returns and Gift Aid claims to be examined in detail to see whether they correlate with public statements and whether tax has been underpaid.
“This is likely to pick up a great deal of data which was previously not considered and, as a result, even minor discrepancies, inconsistencies, or unusual patterns can prompt a review.”
HMRC is using its upgraded Connect analytics system, now powered by artificial intelligence, to analyse data from tax filings, public records, social media, and more than 30 external databases.
