Following the recent re-launch of HMRC Business Record Checks (BRC), the ICAEW has provided tips on effective bookkeeping to help you ensure you’re prepared for a check.
HMRC will sending out letters over the next few months to small businesses it thinks may be at risk of keeping inadequate records.
Even if you already consider your record-keeping skills to be in good shape, the following advice will help you improve:
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- Get an adequate system
- Keep the right information
- Make regular updates
- Don't throw records away
- Paper or online?