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HMRC consultation on SMEs 'may just be a revenue-raising exercise' PDF Print E-mail
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Latest Recruitment News - Office Recruitment News
Written by DirectNews Feed   
Tuesday, 01 March 2011 00:00
HMRC consultation on SMEs 'may just be a revenue-raising exercise' Small and medium-sized enterprises (SMEs) offering roles such as finance jobs in London and across the rest of the UK may be taken advantage of under a new consultation by HM Revenue and Customs (HMRC).

That is according to the Federation of Small Businesses (FSB), which has stated that the ongoing process - which is due to come to an end on Monday (March 7th 2011) - that could result in spot checks on company records being made compulsory may be being used purely for the government's financial gain.

The Business Records Checks consultation suggests that some 50,000 SMEs across the country may be subjected to fines of up to £3,000 if their documentation is not considered to meet "minimum reporting standards".

However, according to the FSB, this could raise as much as £600 million in additional revenue for the government over the next four years.

Meanwhile, SMEs have been advised by Jake Hird of Econsultancy to localise their search engine optimisation strategy.

Posted by Daniel Frost
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