Accountancy Age reports that HMRC have reduced their target for checking business records down from 50,000 to 20,000.
However, for reasons best known to HMRC, they are describing this reduced target as an "extension" of the scheme.
For good measure they also claim that the record checks are in the businesses best interests:
HMRC's director of local compliance, Richard Summersgill, said:
record-keeping helps businesses pay the right amount of tax at the
right time, thereby potentially avoiding interest and penalties.
Adequate records give businesses a clear idea of their trading
position and profitability, allowing them to make business decisions and
adjustments to ensure survival and success.
And where a check has shown
a business keeps adequate records, it gives HMRC a greater degree of
assurance as to the likely accuracy of its tax returns."
Tax does have to be taxing.
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