A pilot scheme of checks of small and medium-sized firms’ business records has been launched, HMRC have confirmed, following complaints that the department begin proceedings prematurely.
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Note last paragraph: ‘HMRC would also like to confirm that it has no intention of charging any penalties for record keeping failures during the current phase of testing and continues to review its long-term planning around the introduction of such charge in the future,’ said the briefing sent to accountancy bodies.
