HMRC business records checks

HMRC have not only started the business record checks earlier than anticipated but they have also commenced them without telling anybody beforehand! This is hardly a customer-friendly move, and HMRC agree that they should have informed all those affected of their change of plan.

Rather than consulting fully with businesses before conducting the checks this autumn, HMRC have already begun them on a so called “test and learn” basis. What this does mean however is that no penalties will be charged if poor records are detected, but HMRC have failed to make apparent when notifying businesses that their records are to be inspected.

This appears to be another example of a high-handed and insensitive approach by HMRC, emphasising our point that you should urgently review your record-keeping to ensure it can withstand any new scrutiny. We are happy to help you with this process, if necessary, please contact us if you require any help or further information regarding this.