hmrc records check booklet 370x229 150x150 1,200 SMEs Targeted by HMRC for Record CheckingOn the 7th April 2011 1,200 small and medium businesses were sent a letter from HM Revenue and Customs to arrange visits in order to have their accounting and tax records checked.

HMRC we be seeking confirmation that businesses are keeping and maintaining adequate and accurate records in order for them to complete their tax returns.

This is a big change in approach by HMRC as it only use to scrutinise a businesses tax affairs if it thought they had filed an inaccurate tax return and was paying too little in tax. This new approach see’s a toughening of HMRC’s attitude to SME record keeping.

For anyone directly effected by this or anyone who wishes to have their records checked to ensure they are compliant please contact us for a free review of your business records.

About the Author

Mark Higham

Is the Managing Partner at Numero Accountancy LLP and an ACCA qualified accountant. Having spent time working in large Plc's and Private Limited Companies in Senior Finance roles Mark start his own practice in 2005. In this time Mark has been a finalist in Doncaster Chambers Entrepreneur Year and Numero have been finalists in the Rotherham Chamber New Business Start-Up and Most Innovative Use of Technology Awards.

Posted on 21st April, 2011