It seems that HMRC's visits to SME's, in order to carry out detailed checks of records etc, are not particularly popular, nor fruitful.
The number of firms forced to undergo a ‘business record check’ has increased by 62% since they were introduced in 2011, yet 73% of these visits have achieved nothing.
This is Money reports that over 5,500 companies underwent the checks in the year to April 2014 (up from 3,431 in the ten months between April 2011 and February 2012). However, 73% were found to have no significant errors (an increase from the 64% in the previous year).
HMRC say that things will now improve, as the checking system had been subject to revisions aimed at filtering out low-risk companies and preventing them from being exposed to the process.
"From November 2013, the BRC programme was scaled back to better target those at risk of having inadequate records. It will allow us to concentrate on those who need our help and reduce the burden on those customers who are keeping adequate records."See, nothing to complain about then!
Tax does have to be taxing.
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