Business Records Checks Suspended
"An internal review of HM Revenue & Customs' 'Business Records Checks' initiative found that it had been poorly targeted, overstated how much it would collect for the Treasury and damaged the taxman's relationship with accountants and business groups.
The scheme will be relaunched "early in the next financial year" with a "fresh approach", HMRC said.
Accountants, Conservative backbenchers and business groups had complained that business owners were being "harassed and mistreated" by a pilot version of the scheme."
I believe this was issued late on Friday evening, so no doubt John and the folks at AWeb will provide a more in-depth analysis on Monday.
However, I am encouraged that HMRC have taken action given what many of us have been saying over many months about BRC's.
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- vat return 245 3
- Flat rate vat 80 1
- Value pricing 715 26
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- PAYE coding notice - deliberate misstatement 180 4
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- Weely paid employees 243 3
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- MONEYSOFT - EARLIER YEAR UPDATE 289 7
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- Treatment of EU Purchases on Sage 103 2
- Residential Property Purchase Above £750K 798
- Using Sage with Sofa Categories 550
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- Goods shipped inter EU and VAT Reporting 294
- Free Tax Legislation? 266
- Director Loan account operation 245
- transferring simply accounting 2010 from xp to windows 7 240
- Non-Resident Director - UK Tax Position? 238
- Sage 200 and Access Dimensions reviews 230
- Paye procedures for CVA 159