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.
- PPR relief - deemed residence? 220 6
- Hello 196 1
- flat rate scheme 1,466 33
- Are you going to Tick and Bash on 21 May? 1,734 51
- Inputting previous months data into PAYE tools 168 4
- Unpaid share capital 71 1
- 64-8 problems 108 2
- Employer reference not recognised? 111 2
- Business trips - director and family 220 2
- Non-UK resident - where to pay income tax? 427 10
- Allocation of income from property 448 12
- Networking 689 6
- Are any of you members of The Institute of Financial Accountants - Accountnats certificate 782 10
- VAT refund for DIY house builders 121 1
- Unqualified accountants filing SATR, VAT returns etc for clients 1,078 22
- bookkeeping system 362 5
- Outstanding Loans 126 1
- HELP...historic SSP query! 221 5
- Company van paid by director 222 2
- Private company division 213 2