HM Revenue & Customs has announced it's sponsoring a new mini-series called "The Business Inspector" to the tune of £370,000 to raise awareness among small businesses about the benefits of tax compliance.
The tax show will be presented by Hilary Devey, founder, chairman and chief executive of The Pall-Ex Group, and broadcast weekly on Channel Five at 8pm from 10th March.
Ms. Devey said:
"Britain's brimming with creativity but a terrifying number of businesses go bust each year and this shouldn't be happening. I am going to teach businesses how to improve their all round business knowledge and direction, cash flow, marketing strategy and in some cases even their enthusiasm. Invaluable lessons they will never forget."
Whilst HM Revenue & Customs spokesperson Stephen Banyard said:
"We know that most small businesses want to get their taxes right. But we know too that failure to take reasonable care costs the Exchequer over £6bn a year, with a major cause being poor record keeping. We hope this series will raise awareness of the need for good record keeping.
"We also want small businesses to realise the benefits to them - such as improved cash flow - of taking better care of their records and paperwork."
** Tax Compliance - Additional Information & Advice **
Alternatively, you may prefer to speak with a tax lawyer. You can find a solicitor specialising in tax for free via solicitor matching services, which can also help you to understand the best course of action for your situation and whether you are ready to hire a solicitor.