HMRC Record-keeping Guides Help Firms Organise Tax Paperwork

Small businesses can access free online information to help them improve their tax records, ahead of HM Revenue & Customs’ (HMRC) crackdown on business books later this year. HMRC has launched four new products to help the self-employed and small businesses keep better records: a factsheet on how to keep records a guide to keeping records for tax returns, including common problems and examples for different types of business a guide to setting up a basic record-keeping system, with examples of spreadsheets an interactive checklist that tells businesses how well they are keeping records and how to improve them. HMRC business customer unit acting director, Brian Redford, said that setting up a good system of record-keeping is time well spent for small firms. “Get a proper system in place... »