Policy News Journal - 2011-2012

This means they may be able to claim State Pension from an earlier date and have National Insurance contributions or periods from your 60th birthday refunded. Read more from the Department for Work and Pensions

Powers, Deterrents and Safeguards

Business Record Checks

CONSULTATION RESPONSE SUMMARY

20 July 2011 HMRC have summarised the responses received to its consultation document on how to implement a programme of Business Record Checks across the SME population. The documents below also give further information on the checks and the legislative background to the penalties that may be charged. Business Records Checks Summary of Responses 13 July 2011 HMRC EXTENDS BUSINESS RECORD CHECKS 28 September 2011 Business Records Checks were piloted earlier this year in eight key areas, and involve checks on the adequacy of small and medium-sized enterprises’ business records. The pilots found that around 44 per cent of businesses visited had issues with their record- keeping, while around 12 per cent of those visited had seriously inadequate records. HMRC have announced that they will be now be extending this activity from mid-September to cover a number of key areas across the UK. As part of this, the number of full-time staff employed on the programme will rise from 30 to 120. For further information on record-keeping, visit www.hmrc.gov.uk/record-keeping 4 May 2011 HMRC has published a video on YouTube to explain ‘Penalties for inaccuracies in documents and returns’. The announcement also highlights the learning modules for HMRC staff to assist tax agents and advisers. Follow the links below to view a video and transcript of an HM Revenue & Customs (HMRC) presentation on ‘Penalties for inaccuracies in documents and returns’. The video runs for 20 minutes and covers: · when a penalty is chargeable · types of behaviours associated with the penalty regime VIDEO EXPLAINS PENALTIES FOR INACCURACIES IN DOCUMENTS AND RETURNS

· prompted and unprompted disclosures · reductions and quality of disclosures · penalty calculations · suspensions and appeals

CIPP Policy News Journal

09/10/2012, Page 188 of 234

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