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Taxi driver records for HMRC

HMRC have now decided after 4 years that they are winding down the Business records review from 20 October 2015.

This is not to say that the checks will never take place in the future. HMRC can only formally check a persons records of income & expenditure by opening an official enquiry or intervention that it is now known by, however the business records review has been a project to send officers out before the tax return is sent in to see if they are maintaining good and proper records, that ultimately are behind the summaries put on the individuals return.

Where record keeping is found to be unacceptable this has flagged up the individual for closer scrutiny once the return is sent in.

We at Taximanager are pleased to be able to report that users of our system for recording income and expenses has been reviewed by officers of HMRC and found to be exemplary.

Our system of recording your entries in the cloud was regarded as excellent. With this we feel our users can be confident that this is an excellent way forward to maintain your business records, ready for when you complete your Self Assessment tax return yourself, by us, or by anyone else you choose to provide the information to.

Remember, no one has access to this information, including HMRC, it is totally private and confidential.

Paul Taylor
PBT Tax Solutions
Acting for Taximanager