The tax year 2009/10 will, almost without doubt, prove to be one of the most economically testing in recent times says the tax expert Baker Tilly.
However, with the backing of sound business advice and knowledge of how the macro-environment is changing, there is a solid basis for corporate and personal success.

With this in mind, and working to the fact that forewarned is forearmed, here's what we tax professionals at Baker Tilly expect to see from HMRC during the next 12 months (ranked neither in terms of timing nor importance).

First, there will be a second Offshore Disclosure Facility designed to elicit details of hitherto undisclosed offshore cash deposits. The indications are this initiative will involve stiffer penalties than the first as HMRC's view is that people have already been given one chance to come clean.

Secondly, the first difficulties with the Inheritance Tax Transferable Nil-Rate Band (TNRB) will emerge as heirs and executors start to get to grips with claiming the additional nil-rate band. The problems are likely to arise most often when executors do not need to claim the TNRB (because the estate they have to deal with is not taxable anyway) but the deceased made lifetime gifts and the recipients of the gifts (individuals or trustees) need to take advantage of TNRB.
Executors may also have difficulty in establishing how much TNRB is available, because the information about a pre-deceased spouse is not clear or complete.

Thirdly, non-domiciliaries will have to decide whether it is worthwhile claiming the remittance basis for the taxation of their overseas income and gains. Then, the next step will be to decide which income or gains to nominate as the source to which the £30,000 Remittance Basis Charge is to relate. So, any non-domiciliaries who have not already done so need to think carefully now about how their overseas assets are organised, in order to minimise UK taxation.

Finally, 2009 should also see the simplification of the VAT partial exemption standard method, following the recent issue of a consultation document.

As for items we'd like to see in this tax year, top of the Baker Tilly wish list would be the dropping of plans to taper personal allowances, thus avoiding an administration nightmare, particularly for PAYE. Also, a retrospective amendment of the rules on Entrepreneurs' Relief to remove anomalies that prevent key types of shareholders from benefiting.

We would like to have no new announcements in the Budget to be implemented without proper consultation on their content.

If that means they cannot come into effect before April 2010, then that would be preferable to ill-considered legislation that requires significant subsequent correction and U-turns.

We would also like to see consultation leading to a proper review of the taxation of small businesses and a fairer system with a reduced administration burden.