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.
- Managing Employee Expenses 86 3
- Company Director In Prison 144 5
- Charity work 89 5
- Entrepreneurs relief available? 716 22
- Unfair charges for self assessment tax returns. Any recourse? 623 21
- MAAT vs ACCA 323 6
- Subcontractor and CIS Deductions made by Contractor 88 5
- Can I take action against my accountant for incompetence? 3,511 70
- Has anyone read the implications of the Lisbon treaty? 1,528 55
- VAT registration? 132 1
- ec sales lists 147 1
- VAT registration to supply services in EU 133 1
- Vat Retrospective Reclaim 143 1
- donations to school via self employed business (registered charity) 87 4
- Small company audit 741 12
- Reasonable excuse for not filing returns....Death? 181 2
- Estate agents - shared commission 122 3
- VAT point on Consignment stock 63 1
- West Bromich Albion 442 4
- Update workbook linkage without opening source 123 3
- Property exchange - 8-year legal delay following fall-out 662
- Have you staged yet for auto enrolment? 465
- Cancelled 417
- SAGE Payroll Data for Import to MS Dynamics AX 358
- Cancelled 356
- Probiz 327
- Free-standing washing machine - unfurnished lettings 307
- Phishing emails purporting to be from CIPFA? 238
- Is this UK incapacity benefit taxable in UK or Jersey? 209
- Another HMRC computer glitch? 182