How can Sli£k Bookkeeping help if my business is to be audited by HM Revenue & Customs?
It is part of HM Revenue & Customs job to check tax returns are complete and correct and sometimes HM Revenue & Customs will make enquires to check if a return is accurate. Many of these enquires result in extra tax being payable, because people have understated their business turnover, claimed expenses that are not allowable, or are not in a position to demonstrate their business finances. When this happens you may get charged interest and penalties on the extra tax for the year of the enquiry and in some cases for earlier years too. Ensuring that you keep good business records and are able to demonstrate how your turnover is generated, what expenditure your business has encountered, show reference to invoice and expense receipts, are all part of the documentation required to present to the HM Revenue & Customs if a tax return enquiry is undertaken. If your records are poor or incomplete and are not able to show sufficient evidence of your income and outgoings, you could end up paying
