Michael Bell and Co Accountants

HMRC Drops Business Record Check

HMRC has decided to shelve its “Business Records Check” which sees small businesses subjected to spot checks of their paperwork and fines of up to £3,000 for keeping “poor trading records”. John Cassidy, tax investigation partner at accountancy firm PKF, said: “The scheme was fundamentally flawed and has taken up a lot of everyone’s time for little discernible benefit. HMRC should have started consulting on this back in 2010 before this was launched.”