Business Record Checks – are you ready?

May 25th, 2011  |  Published in Uncategorized

After a very quick consultation process, HMRC Business Records Checks are now a reality – I arranged to attend one today, they are being piloted in several parts of the country already.

The idea is to review your current records for completeness and accuracy, not to enquire into a specific Tax Return already submitted.

If your records are found wanting, as well as the risk of further enquiries, you are likely to receive more visits in the future looking into other aspects than Income Tax, such as VAT and PAYE.

If you are worried about the current state of your records NOW IS THE TIME TO ACT.  Call me – it is better I look at your records first and give you time to put things right than to have HMRC do it for you!

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