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Greater scrutiny of book-keeping by slf-employed

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Evasion GREATER auditing of the self-employed - from hawkers to barristers - is planned in a crackdown.

The Financial Secretary has also pledged to bring forward legislation to clarify book-keeping and records requirements.

Sir Hamish said it was essential all business transactions could be traced so effective attacks could be mounted against the under-reporting of incomes.

He described as 'alarming and unacceptable' a survey of firms revealing a widespread practice of inadequate record-keeping.

Of the 4,500 businesses surveyed: 60 per cent did not issue receipts or only issued them on request; 45 per cent kept full sets of books and accounts; and 40 per cent did not keep sufficient records to enable their taxable profits to be readily ascertained.

Sir Hamish said new requirements would deter under-reporting and make it easier for tax inspectors to uncover transgressions.

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