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Recently, several MalgraBooks members have been contacted by HMRC as part of routine compliance audits. These checks are designed to ensure that accounts are being maintained accurately and are up to date.

As a gentle reminder, keeping your accounts current isn’t just best practice – it’s an essential part of meeting your legal obligations. HMRC expects businesses to have a clear, up-to-date view of their income, expenses, and records at all times. Falling behind can lead to penalties, delays, or increased scrutiny.

Best Practice for Staying Compliant:

  • Update records regularly – Ideally weekly, but at least monthly.
  • Accurate recordkeeping – Ensure all transactions are accounted for.
  • Keep digital copies of receipts and invoices – Cloud storage is fine, there’s no need to print everything!
  • Check for missing entries – Gaps in data can raise red flags during a compliance check.

Managed accounts support

If you’re on one of our managed services (Advanced, Premium or VAT Service), and you’ve been contacted by HMRC – or are concerned about your current accounts, please get in touch with us as soon as possible. We’re here to support you through the process and ensure everything is in good order.

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