Revenue slashes record-check targets
Original book-keeping fears may have been exaggerated
HMRC has slashed 30,000 visits from its small business record-checking campaign – and hinted that its initial fears regarding small business book-keeping may have been exaggerated.
The Revenue originally planned to visit 50,000 small businesses, to check whether they are keeping adequate accounts. However, that number has now been cut to 20,000.
Policy chiefs initially set a target of 20,000 record checks by April 2012. This has now been reduced to 12,000.
A spokesperson for HMRC told the Financial Times: “We are actually holding back a bit. Having done the initial pilots, we are going to build up in a more measured way.”
However, the Revenue added that it will increase the number of staff working on the record-checking programme from 30 to 120, and ramp up the scheme over the course of next year.