A pilot programme of business records checks began in April 2011 and it ran until 17 February 2012, when HMRC announced it would conduct a review and follow with a fresh approach. HMRC has just launched a revised programme, claiming that there will be a much greater emphasis on education and support than in the original programme.
From today, HMRC will be sending letters to businesses it believes may be at risk of keeping inadequate records, advising the proprietors that HMRC will be contacting them by telephone to discuss their business records. By this means HMRC will “determine whether the customer could benefit from tailored educational support and whether a Business Records Checks visit is necessary”.
The Business Records Checks programme will be rolled-out across the UK, region by region, over a 14-week period. Businesses in Scotland will be included from14 January 2013.
If you receive any communication from HMRC about this, or indeed any other matter, you should immediately contact Richard Green or Tricia Halliday in our Tax Department for advice.