Business News
SME Tool Kits Online from HMRC
Toolkits and checklists have been designed to assist SMEs, sole traders, and the self employed keep on top of their record keeping and filing in line with the launch of HMRC’s Business Record Checks programme later this year. The toolkit applications are being made available online and look to inform and encourage proactive reaction to penalties that will be imposed within this programme.
The toolkits and checklists can be found on the HMRC website and are suitable for a range of businesses.
Brian Redford, HMRC's Acting Director, Business Customer Unit, said: “In these tough times, keeping good records makes sound business sense.
“It may seem like a challenge, particularly when you're starting out, but keeping good records will bring real advantages to your business. Get a proper system in place and you'll not only be confident that you are paying the right tax, but you'll keep up-to-date with how much you owe suppliers and how much you are owed.”
Later this year, HMRC will start a programme of Business Records Checks that will look at the adequacy and accuracy of business records in SMEs to bring about a major improvement in the standard of record-keeping. Now is the time to invest a bit of effort to make sure your business records are perfect.'
A workshop is also going to be hosted 13th April, 9.30 – 12.30 at Ryton Organic Gardens; this will also be able to assist in keeping on top of your filing and record keeping and avoid any unnecessary penalties moving forward.
