Has anyone had a monitoring visit from IAB before?
I have one and not convinced the information they are asking for they are entitled to see.
They are asking to see all the computer software licences (my hubby works in IT and he says the likes of Microsoft would not give IAB permission to see licences) including sage and the like and any payroll software.
They are also asking to see our accounts (our Limited Company has income from other sources then bookkeeping) are they really allowed to look at this information.
They are also asking to see online log in details for the HM Customs website (I thought that this is confidential information)
They are also asking to see the bookkeeping work that I have done on all my clients including looking at all the client paperwork.
Also money laundering ID which is the only thing I believe they are entitled to see.
Any advise from someone who has had this monitoring visit is appreciated as I don't want to be showing sensitive information if they are not entitled to.
I suppose they just want to make sure you are operating legally and not committing any software/copyright theft.
Anyone could see your Ltd Company accounts anyway if they applied to Companies House.
No idea why they would want to see log in details for HMRC.
As for looking at client work - that could be very difficult if it was done on their premises rather than your own as you would not be able to produce this, also you would need the clients' written permission for them to have access to their records, I would have thought.
They want to look at the detailed accounts not just what is on Companies House which is just abbreviated.
It is a nonsense about client work because ones on client site I won't have access to and majority of client work done at home client collects paperwork back as soon as I finished and if not paperwork with accountant doing their year end. Have got email permission from one client.
They have not mentioned a charge for this. If they do try I won't pay it and tell them what I think of them. They are being really rude about the whole thing because I am slowly winding down my business before I have my baby in November so income from the bookkeeping minimum I am registered with lots of temping agencies and told the IAB that I may need to rearrange the visit at short notice and they told me that temping work is not good reason enough. I responded that they would not expect a bookkeeper to lose a days income from a client so they should not expect me to lose a days temping wage as need to earn as much as possible now when I can before going on maternity leave.
You clients' books are confidential to your clients. Your HMRC login (like any other login details) should never be shared with anyone. Take legal advice (Citizens Advice Bureau is a good place to start).
