Summary
A Bath accountancy is warning that businesses could face fines of up to Pounds 3,000 this year if they don't have up-to-date records as part of a new HM Revenue & Customs crackdown.
The new Business Record Checks, which are due to start in July, will target 50,000 small and medium-sized firms annually, with the aim of raising Pounds 600m over the next four years. Paul Morris, director of tax planning at Target Chartered Accountants, said: "HMRC has the power to inspect business records at any time and for any reason. However, up until now these kinds of random checks have been rare.See the full content of this document
Extract
Warning Over Record C Hecks
"The checks, which will assess th...
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