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Revenue letters target small businesses

by Susie Hughes at 09:17 10/08/06 (News on Business)

In the next few weeks, some small businesses will be receiving standard letters from HM Revenue & Customs alerting them to possible errors on their tax returns.

Advertisement HMRC has carried out this exercise previously, by sending out letters with advice for small businesses on calculating business income for the purposes of Self Assessment. These letters should issued by the end of August. Recipients have been selected on the basis that they may be likely to make errors. Where an agent is acting on behalf of the business, they will be issued with a copy at least four days before the letter is sent to the client. The letters are available to download from the Chartered Institute of Taxation's (CIOT) website (pdf). -- If you wish to comment on this article, please log in and use the Reply button below. Registering is free and easy - see 'Join Shout99'. - Susie Hughes © Shout99.com 2006

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