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TaxAid conference: personal and business tax update

20 November 2012 / Rebecca Cave , Colin Anderson
Issue: 4380 / Categories: Comment & Analysis , Events
Highlights reported by Rebecca Cave, director of Taxwriter Ltd, and Colin Anderson, TaxAid volunteer

SPEAKERS

  • Mike Truman editor Taxation
  • Andrew Burgess lecturer and consultant for Mercia

BRCs are back

Mike Truman kicked off the conference with the news that business record checks (BRCs) are back. HMRC have refined their BRC process into three stages:

  • write to the business (but not the appointed tax agent) selected for the BRC;
  • telephone the business and run through a questionnaire about business records for about 15 minutes; and depending on the response received either:
  • confirm business records are adequate; or
  • arrange for an education and support team to contact the business; or
  • where records are deemed inadequate arrange a BRC visit.

Penalties will not be charged after the first BRC visit as the business...

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