HMRC plans to monitor tax evaders makes a lot of sense. Round my way the police send known offenders a postcard shortly after they have left prison, to let them know they are being watched. The question is why this is such big news – surely they would have been doing it already?

Of course we all pay our tax and encourage our clients to do likewise but penalties for inaccurate record- keeping? Is a brown paper job inaccurate? Many in the SME sector store the important bits in their head and do very nicely, thank you. They duly deposit a mound of scraps with the accountant at the year end and it’s all there. But, how would that be viewed by an inspector from HMRC? That’s a three grand penalty mate! Even more than the accountant’s bill.