According to HMRC guidance, a business must keep records sufficient to file a return or make a claim every year. However, they do not make it clear what records to keep and preserve with them stating that records do not have to be in any particular format, but they should be up to date and kept in sufficient detail to:

• allow the business or person to make a correct and complete return

• allow the business to calculate the correct amount of tax to be paid or claimed

• enable HMRC to check the figures on the return or accounts.

The precise nature and extent of the records needed to fulfill these requirements will be dependent upon the type and size of your business and The TAX Partnership can provide a complete health check on your accounting system to provide advice about how this can be altered to not only comply with the Revenues requirement but also to provide the financial information needed to make business decisions.

Our Health check will:

• Review your current activities and systems
• Discover your expectations of an ideal accounting system
• Provide details of the systems available - outlining the advantages and disadvantages of each one

The Tax Partnership has experience of all types of accounting systems from manual cashbooks to computerised accounts. We have been professional advisors for Intuit QuickBooks for over 10 years and have provided training on QuickBooks at locations throughout the country. We are also members of KashFlows Partner Programme and have extensive experience of Sage Instant Accounting and Sage 50.

No matter which system you use, The TAX Partnership can ensure that you obtain the maximum benefits possible from it.