Self-auditing IFAs could face HMRC tax swoop

IFAs who balance their books in-house are more likely to face a HM Revenue and Customs (HMRC) swoop, according to a leading tax expert. George Bull, senior tax partner at accountants Baker Tilly, said HMRC inspectors would be looking for “quick wins” when the Business Record Checks (BRC) scheme - designed to target small businesses - is rolled out this year. “When we talk about events that provoke extreme emotional stress, we tend to think of bereavement or job loss. I would add a HMRC inspection to that list,” he said. “In most cases where small businesses are penalised, it is bec...