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.
- Let Property Campaign 149 2
- is photo id necessary to set up a direct debit? 32 1
- What would you do? 319 2
- Taxable income for previous years 349 8
- VAT position on EU supplies/commission 59 1
- Depreciation on purchase of software 133 2
- Moneysoft - technical query 178 3
- SA302 list of lenders accepting alternative 1,296 16
- App recommendations 321 4
- Defend your local inspector? 616 7
- accountant in Bristol 497 1
- New Company Director PAYE Question 757 20
- Exasperated by HMRC 2,130 19
- How long should one give Aweb … 703 9
- Resident and Non-resident 760 7
- Benefit in Kind - Director loan or not? 160 3
- Client in dispute with Customer over cancellation charge 411 16
- Working Hours Calculation - Rounding Hours up/down 138 2
- Self employed Self Assessment 396 2
- Applying for clearance before 5 years share ownership 172 2
- HMRC arbitrarily amending tax returns for higher rate child benefit charge 354
- Any knowledge of salesorder.com 343
- Chart of account segments; Balance sheet vs P&L 276
- HMRC RTI Filing Problem 251
- Goodwill and the Summer 2015 Budget 251
- Could and would anyone here carry out a hot file review of some non statutory audit work please? 242
- Electric Car 193
- S222 Charge 183
- Foreign Tax on Pensions 171
- What is the best acounting software for online international retail business? 171