HM Revenue & Customs has extended its programme of checks on the adequacy of business records kept by small and medium enterprises (SME's), after pilot programmes carried out earlier this year in eight areas found 12% of SME's visited had seriously inadequate records. The extended programme commenced in mid September and will cover a number of key areas across the UK. The number of full time staff will be increased from 30 to 120 and HMRC intends to complete up to 12,000 business records checks by the end of the current financial year, with 20,000 provisionally planned for 2012/2013. The number of visits will be increased so HMRC can refine the process before final decisions on a national roll out are taken in the New Year. Initially, HMRC will only levy a record keeping penalty in the most extreme cases but in the longer term it intends issuing penalties of up to £3,000 for serious inadequacies. Guidance will be issued in due course but no new legislation is proposed and the current record keeping law and penalty regime will be applied. 
See here for HMRC record keeping guidance http://www.hmrc.gov.uk/record-keeping/
And Business Link's useful information on how to set up a basic record-keeping system http://www.businesslink.gov.uk/bdotg/action/layer?r.l1=1073858808&r.lc=en&r.l2=1073859227&topicId=1073860617&furlname=startrecordkeeping&furlparam=startrecordkeeping&ref=http%3A//nds.coi.gov.uk/content/detail.aspx%3FNewsAreaId%3D2%26ReleaseID%3D421306%26SubjectId%3D2&domain=www.businesslink.gov.uk
Any ICB qualified bookkeeper will be able to help you with setting up an easy to maintain record keeping system - just call for advice.