Ensuring we stay compliant for all at The Hollies Bookkeeping

Like all good bookkeepers we expect and are ready for investigations of our procedures and work, we stay compliant for all at The Hollies Bookkeeping.

Earlier this year, two self-assessment tax returns we had worked on were investigated by HMRC, one in February and one in May.

These are always random requests, and we don’t know if or when the tax office will ask to look at one of the returns we have worked on.

But the chances are we will get at least one request a year at random to ensure we are doing everything properly.

This is made even more likely because HMRC hired 70 new compliance officers this year to investigate cases and do this work.

We aim to be ready for these checks whenever they come, but the truth is, it’s a lot of extra work for us. We have to go through every transaction and comb through every receipt with a very fine toothcomb, to ensure everything matches up.

We will always do our job properly but, but to ensure what you give us is accurate and up to date, we have started to ask for bank statements from our clients so we can spot check we have got everything we need from you, and it matches up, rather than back tracking when asked.

We would always rather do the bookkeeping for you also so we can make sure everything tallies up from the get-go and it’s a belts and braces method to ensure we are doing everything right – so we stay compliant and so you do. To be asked to go hunting for an invoice or receipt or multiples of these months down the line, is hassle for you as well as for us.

The reality is, if asked, we need to ensure that you have all the receipts of everything you say you have.

If you give us everything you have, we can do it all for you. This way if HMRC comes knocking, we don’t have to start from scratch on our own checks – and neither do you. It’s already been done, which saves everyone time, money, and stress.

We are asking everyone to try and send us all their January self-assessment paperwork ASAP and before Christmas. Our work doubles in January, so help us get ahead by submitting it now.

If you have any questions or you would like to speak to us about your bookkeeping or self-assessment needs, please call us on 01743 790086 or email info@holliesbookkeeping.co.uk