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Help to avoid record HMRC fines.

confident that you are paying the right tax, but you'll keep up-to-date with how much you owe suppliers and how much you are owed."

The products include a guide on keeping records (www.hmrc.gov.uk/factsheet/record-keeping.pdf); a general guide to keeping records for your tax return FOUR free products have been launched by HM Revenue & Customs to help small firms improve their record-keeping ahead of checks later this year which could impose strong penalties for noncompliance.

The products are suitable for the selfemployed, sole traders and small businesses.

HMRC acting director business customer unit, Brian Redford, said "It may seem like a challenge, particularly when you're starting out, but keeping good records will bring real advantages to your business.

"Get a proper system in place and you'll not only be (www.hmrc.gov.uk/sa/rkbk1.

pdf); how to set up a basic record-keeping system (www.businesslink.gov.uk/recordkeeping); and guidance on what records should be kept, how well you are keeping them and a checklist if you are starting a business (www.businesslink.gov.uk/record keepingcheck).
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Publication:Liverpool Echo (Liverpool, England)
Date:Feb 23, 2011
Words:182
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