Will your bookkeeping cost you a £3000 fine?
If you are a small or medium sized business based in London and East Anglia, you may be receiving a letter from HMRC in the next few weeks. Over a 14-week period starting from the 26th November HMRC will be contacting businesses it believes may have inadequate records. These businesses will then be contacted by a telephone call in order to assess their record keeping habits.
A visit from HMRC may be required if your answers are not satisfactory, and if it is believed that you may benefit from ‘tailored educational support’. This visit will assess the businesses need for interjection, and a further visit 3 months later will subsequently be arranged.
If HMRC is not satisfied that improvements in businesses record keeping have occurred then these companies will be liable to penalties.
A HMRC spokesperson added “Adequate records help businesses pay the right amount of tax at the right time, thereby avoiding interest and penalties for errors and late payment, whilst also giving HMRC greater assurance when a business submits its tax returns.”
When HMRC last conducted record checks in April 2011, when they found that 10% of those businesses contacted had inadequate record keeping. These businesses were subjected to further visits and fines.
At Gordons Knight, our clients are safe in the knowledge that if their business is contacted by HMRC during this 14-week period, we have them covered.
We offer a complete bookkeeping service for clients and non-clients in the London area. If you are looking for a bookkeeper to look after your businesses records, and keep you up-to-date with management accounts, VAT returns and other reporting requirements, this is the bookkeeping service for you.
Available to clients and non-clients in the London area in the main, we offer certainty of performance, ease of choice and guarantees to meet deadlines. In fact everything you would ever need from a bookkeeper.
If you want your bookkeeper on site, you can have a bookkeeper on site. However we can typically provide the service, with the desired results more effectively, more efficiently, and at lower cost when we work with you to develop a system to prepare your books off site and deliver the results electronically.
If you have not tried or looked at in detail at the off-site options, I would implore you to do so before rejecting the idea.
Our foremost thought, and aim is to provide effective business solutions that work for you. The way we have thought, structured and developed our bookkeeping services means we achieve the best for our clients time and time again.
However, don’t just take our word for it! Come and see what our clients think of us athttps://gordonsknight.co.uk/testimonials
