Business records checks scrapped

HMRC are phasing out business records checks. The programme was aimed at checking the adequacy and accuracy of records kept by small and medium-sized enterprises (SMEs) and has received much criticism for being ineffective and poorly targeted.

A Revenue spokesperson said:

“We are honouring commitments made for checks but will not be undertaking any new ones. Best practice from the records checks will be embedded into routine compliance activities.”

The spokesperson added:

“Our approach to supporting business in meeting their obligations changes over time as technology and the way we use data evolve. Business records checks have successfully helped many businesses to improve their record keeping and over time the checks delivered diminishing returns.

“HMRC remain committed to helping businesses keep better records through online learning packages as well as digital tax accounts which mean businesses can easily interface with HMRC using their own accounting software.”

Andrew...