HMRC have re-launched their programme of Business Record Checks (BRC) and from 1 November 2012 will be sending out letters to businesses that it believes may be at risk of keeping inadequate records. The letters are then followed up by a phone call where HMRC aim to assess the businesses record keeping affairs.
If HMRC deem the record keeping ‘inadequate’ they will then visit the business to provide ‘tailored educational support’ and follow up after 3 months to check that the necessary improvements have been made.
Businesses that fail to comply will be liable to a penalty.
The BRC programme will be rolled out region by region with East Anglia falling into the first tranche with visits commencing 26 November 2012.
For further information visit the HMRC website.
