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.
- Disengaging a client who uses our office as a registered office address 770 19
- Scottish independence - what happens to HMRC? 925 53
- Go Cardless 241 8
- business entertaining deductibility 96 1
- Self assessment tax arrears 89 2
- R & D 93 3
- Are HMRC cutting out Agents in tax investigations? 213 1
- Shareholder/Directors termination payments 60 1
- Childcare vouchers and final month payroll Qs 99 2
- Can anybody help withe the RTI end of year process? 130 3
- Payroll software with annual pay period? 116 1
- New Business Registration 206 5
- Audit rules 132 3
- Hosted email exchange 118 4
- Excel formula for UK corporation tax including losses 136 1
- G P life time allowance 106 3
- Why will HMRC not code out my client's £1,730 underpayment for 12/13 364 11
- Bringing money to Uk 206 3
- How can I tell what returns are outstanding on HMRC online? 121 1
- Accounting for investment club gains 106 2
- Xtuple 499
- Qtac payroll for bureau 332
- Confused - Professional Association a Mutual trader, or not? 276
- Industrial & Provident Societies 273
- Mehjoo 217
- Data transfer from Sage Line 50 to VT Transaction+ 215
- New strategic report 168
- Domain name sale and limited company 154
- South African Government Pension 148
- CIS schemes 143