HMRC will start targeting businesses across the country later this month as it rolls out a new "fresh approach" to Business Records Checks (BRC) visits. As of 26 November HMRC will start visiting small and medium-sized businesses in London and East Anglia to check their records. The visits take place over a 14-week period, HMRC will be sending out letters to businesses that it believes may be at risk of keeping inadequate records, advising them that it will be in touch by phone. The call will take businesses through a set of questions designed to assess their record keeping affairs. Depending on the outcome, HMRC will then decide whether they would benefit from “tailored educational support” and whether a visit is necessary. If businesses are keeping inadequate records they will receive guidance on what to do. HMRC will then set up another visit after three months to check that the necessary improvements have been made. Businesses that then fail to comply will be liable to a penalty. Please contact us if you want to outsource your bookkeeping and accounts work.
Posted on: Sat, 13 Jul 2013 02:32:41 +0000