If you are operating any kind of business, whether a company, partnership or as a sole trader, you have a lot to think about. That’s why outsourcing tax matters to either a tax agent or accountant is something that many business owners do, to reduce the burden and time consuming effort required to deal with tax and also to ensure that no errors are made. In order to do this, however, a form 53-8 must be completed.
Authorisation For Discussion And Disclosure Of Information
In simple terms, the Form 64-8 gives HMRC the authority to discuss your company’s tax affairs and disclosure any information regarding them to a third party accountant or tax agent. Nevertheless, even though HMRC are given authorisation to deal on your behalf with your agent or accountant, the responsibility will still remain with you.
What Authorisation Does The Form 64-8 Give?
The 64-8 form authorises HMRC to discuss any tax affairs issues regarding partnerships, trusts, individuals, PAYE, corporation tax and CIS on your company’s behalf with your accountant or agent. You choose the appropriate categories on the form to let HMRC know which tax affairs you wish your accountant or agent to deal with.
Completing The Form 64-8
Should you be in a business as partnership, separate form 64-8’s are necessary for all individuals who must give authorisation for the accountant or agent to handle their tax matters. Should you employ several agents to act on your behalf, you will need to complete separate forms for every agent in your employ. You will need to indicate clearly which services each agent is providing for you.
What Happens If I Don’t Complete Form 64-8?
If you fail to complete form 64-8, HMRC will be unable to discuss any matters regarding your tax with a third party. Therefore, if you intend to have an agent or accountant acting for you, completion of this form is essential.
If you need help with your tax compliance please contact The Accountancy Solutions on 01216297768 or 02070784001 for further advice.