Business Records Checks Return
13 November 2012
HMRC has re-launched its Business Records Check (BRC) initiative from 1 November 2012.
Small and Medium sized Enterprises (SMEs) will be checked in terms of the adequacy of business records being maintained.
HMRC intends to:
- Write to those SMEs selected for a BRC.
- Telephone the selected SMEs to talk through their business record keeping. The call is expected to last 10 – 15 minutes.
Depending on the outcome of these calls, HMRC will then:
- Assess whether a face to face BRC visit is required.
- If the business records are deemed to be adequate, the HMRC officer making the call will tell the SME and then confirm the decision in writing.
- If the business records are deemed to require improvement, an HMRC officer from the Business Education and Support Team will make contact with the SME.
- If the business records are deemed to be inadequate and a visit required, the HMRC officer will ask one of their colleagues on the booking team to call to make the arrangements.
If you receive a call from Business Records Check team and require guidance or advice, please contact your Accountant within Daly Park.