The suspension is over. HM Revenue & Customs (HMRC) has relaunched its Business Records Check (BRC) initiative today.
The purpose remains the same. HMRC intends to check the adequacy of business records being maintained by Small and Medium sized Enterprises (SMEs), but the process has changed.
HMRC now intends to:
- Write to those SMEs selected for a BRC.
- Telephone the selected SMEs to talk through their business record keeping. The call is expected to last 10 – 15 minutes.
Based on the responses received, HMRC will then:
- Assess whether a face to face BRC visit is required.
- If the business records are deemed to be adequate, the HMRC officer making the call will tell the SME and then confirm the decision in writing.
- If the business records are deemed to require improvement, an HMRC officer from the Business Education and Support Team will make contact with the SME.
- If the business records are deemed to be inadequate and a visit required, the HMRC officer will ask one of their colleagues on the booking team to call to make the arrangements.
This appears to be very similar to the traffic light system used by HMRC prior to the suspension. Adequate records were given the green light, records in need of improvement were given the amber light and inadequate records awarded a red light.