Whether you need sole trader bookkeeping, or are looking for certified bookkeeper firms who can help with tying up returns and year end figures, it’s essential that you are careful with the figures you record. If you are a sole trader, or are completely in charge of your business, you are going to be wholly responsible for ensuring your details are correct. HMRC, at present, is able to make random appointments to visit businesses for records checks. If these records are not present and complete, you may face a fine.
HMRC is also legally obliged to fine or reprimand companies who fail to file tax returns, or who fail to pay on time without due reason. Not only can your business be hit by heavy fines if you fail to adhere to HMRC standards, your assets may be at risk. HMRC has a lot of power when it comes to debt collection, and to records management assessment.
Therefore, it is a very good idea to look for outsourced bookkeeping firms who can handle all of this sensitive data for you. Should you be approached by HMRC, you can simply offer them evidential records of your income, expenditure and more by referring to our data. We will keep everything simple and organised for you so that you can refer to your financial statement when you need to, and should HMRC request a visit, you can be fully prepared.