New approach to HMRC Business Record Checks
Posted on 22 Mar 2013
HMRC are changing their Business Record Check (BRC) activity to ensure it better targets help to those who are likely to have inadequate records, reports chartered accountants Harris & Co.
The BRC programme uses on-site visits to help and encourage small and medium-sized enterprises to improve the standard of records they keep, which in turn helps them to send correct returns to HMRC.
From 4 November 2013, HMRC"s BRC activity in the Edinburgh, Glasgow, Leeds, Bradford and Stockport areas will explore new ways of using the checks. As part of this, HMRC will evaluate new risk processes and ensure new approaches are cost-effective and fit with its wider compliance activity.
HMRC will also work with tax agents’ representatives to review the benchmarks of what good record-keeping should be.
Businesses outside the development areas should expect HMRC to continue with existing BRCs until they are completed.
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