Tax checks suspended - Today's small business news roundup

  • By Josh Hall
  • 6 February 2012
Tax checks suspended - Today's small business news roundup

Spot checks suspended, recession coming, and Scottish credit rating questioned - here's your need-to-know business news roundup.

HMRC has paused its spot-check system following an internal review.

The “strength of feeling” against the regime has led the Revenue to rethink. The Business Records Checks will be tweaked and relaunched after April. [Telegraph]

The UK is returning to recession according to a new report.

Figures from the Institute of Chartered Accountants in England and Wales suggested that falling business confidence and low capital expenditure expectations pointed to a double dip. [BBC]

An independent Scotland may not hold onto a triple-A credit rating according to credit agencies.

The country would not inherit the UK’s rating, and would reportedly lose several notches. [FT]

Read more about: Tax and finance , General business