If you business is picked for a business records check (BRC) please consider asking us to attending the visit to ensure the Tax Inspectors stick to their brief. Problems reported so far include:

• Threats of penalties (the trial phase of BRCs should be penalty-free);
• Questions about private sources of income (the BRC should apply to business records only); and
• Records categorised as sub-standard when only a few purchase invoices are missing.

The standard letter issued after a BRC visit includes a promise by HMRC to return within three months, outside of the trial phase, when penalties can be imposed.  

HMRC update on business records checks

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