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Business records checks re-launched

HMRC has decided to re-launch business records checks following an extensive redesign of the system.

The programmes now involves a new step-by-step approach, with a much greater emphasis on education and support in regards to businesses keeping clear records of their tax responsibilities. From today, the Revenue will send letters to those it believes may be keeping inadequate records.

It is possible HMRC will also phone those it suspects in order to take the customer through a set of questions to assess their affairs. Depending on the outcome of these conversations, HMRC will make the decision whether these businesses could benefit from tailored support or whether an official visit is necessary.

If visits reveal inadequate records, HMRC will provide a service to improve matters before arranging a follow-up visit up to three months later. On the second visit, if things are found not to have improved, HMRC may impose a penalty.

The new programme will be rolled out from 26 November to 4 February nationwide.

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