Business recordsMarch 3, 2011 If a business does not keep adequate records to support the entries on its tax returns, it can be fined up to £3,000. HMRC has just launched a campaign to encourage better business record keeping, which includes advice on the Business Link website and an online tool designed to test if sufficient business records are retained. This online guidance includes quite a lot of jargon words and phrases, so please speak to us if you can’t follow what HMRC is asking for.
Advice on how to set up accounting records www.businesslink.gov.uk/recordkeeping
Online tool to determine if sufficient records are kept |
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