News
HMRC To Take A New Approach To Business Record Checks
03 - 02 - 2012
HMRC will postpone making any new appointments for business records checks following an announcement that it will take a fresh approach to its checking programme in 2012.
Discussions with professional representatives and businesses suggested that the pilot programme for the business record check process has been effective in improving record-keeping practices for smaller businesses. The review now recommends that a more targeted approach is adopted, with links to available education and support.
Between April 2011 and 4 January 2012 HMRC carried out 2,437 business record checks on small and medium-sized enterprises business records. The pilot programme found that 28% of the businesses checked had some issue with their record keeping, with 11% requiring a follow-up visit.
For the time being only visits already booked and some follow-up visits will be carried out by HMRC.
The new approach will be implemented early in the 2012/13 tax year.
