{"id":11733,"date":"2011-02-22T09:00:47","date_gmt":"2011-02-22T09:00:47","guid":{"rendered":"http:\/\/chopsybaby.com\/magazine\/?p=11733"},"modified":"2018-07-02T13:55:38","modified_gmt":"2018-07-02T12:55:38","slug":"new-hmrc-record-keeping-resources-for-self-employed-and-small-businesses","status":"publish","type":"post","link":"https:\/\/chopsybaby.com\/magazine\/new-hmrc-record-keeping-resources-for-self-employed-and-small-businesses\/","title":{"rendered":"New HMRC record-keeping resources for self-employed and small businesses"},"content":{"rendered":"

Self employed parents and business owners may benefit from a series of free resources launched today by HM Revenue & Customs (HMRC)<\/p>\n

The four new products are suitable for the self employed, sole traders and small businesses.<\/p>\n

They have been produced to stop the self-employed falling foul of the new Business Record Checks<\/strong> programme to be launched later this year.<\/p>\n

Getting record keeping wrong could see businesses pay hefty penalties.<\/p>\n

Spokesperson for\u00a0\u00a0HMRC, Brian Redford said: \u201cIn these tough times, keeping good records makes sound business sense.<\/p>\n

\u201cIt may seem like a challenge, particularly when you\u2019re starting out, but keeping good records will bring real advantages to your business. Get a proper system in place and you\u2019ll not only be confident that you are paying the right tax, but you\u2019ll keep up-to-date with how much you owe suppliers and how much you are owed.<\/p>\n

\u201cLater 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.\u201d<\/p>\n

Resources<\/strong><\/p>\n

\u00a0Keeping records for business – what you need to know: a basic guide with a helpful list of where to get more information. www.hmrc.gov.uk\/factsheet\/record-keeping.pdf<\/a><\/p>\n

A general guide to keeping records for your tax return: detailed guidance on record-keeping covering what type of records you may have to keep, common problems and examples for different types of business. www.hmrc.gov.uk\/sa\/rk-bk1.pdf<\/a><\/p>\n

Set up a basic record-keeping system: with examples of spreadsheets and information about setting up a record-keeping system. www.businesslink.gov.uk\/recordkeeping<\/a><\/p>\n

Find out what records you should be keeping: looks at the records you need to keep and assesses how well you are keeping them. If you are thinking of starting business the tool provides you with a checklist. If you are established it will give feedback and advice on improvements you may need to make. www.businesslink.gov.uk\/recordkeepingcheck<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Self employed parents and business owners may benefit from a series of free resources launched today by HM Revenue &<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[6],"tags":[],"class_list":["post-11733","post","type-post","status-publish","format-standard","hentry","category-bristol-news"],"yoast_head":"\nNew HMRC record-keeping resources for self-employed and small businesses - Bristol News From Chopsy Bristol<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/chopsybaby.com\/magazine\/new-hmrc-record-keeping-resources-for-self-employed-and-small-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New HMRC record-keeping resources for self-employed and small businesses - 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