Submitting accounts to HMRC
I'm feeling a bit like Arthur Dent from the Hitchhikers Guide to the Galaxy who found that the plans for knocking down his house were on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying "Beware of the leopard".
Having happily sat down before Christmas to do my company's corporation tax return, I have discovered that HMRC's PDF based software cannot cope with a balance sheet which has any reserves other than profit and loss account and revaluation reserve. As my company has a share premium account, the HMRC form won't accept it (although Company's House can cope with no trouble).
So I find myself looking for alternative solutions to produce the accounts in iXBRL, which will no doubt eventually be solved.
What I find odd is that today, as I write this, I am unable to comply with the HMRC's requirements, because I don't have a mechanism for preparing accounts in iXBRL format. Is there no requirement for HMRC, in law, to provide me with such mechanism?
I suppose, in times gone by, there was no requirement to provide me with a pen so I could fill in the form, or paper so I could print my accounts, but this feels rather different.
Looking further ahead will HMRC be able to insist that all taxpayers do their SA return on line, when there may remain some who don't have access to the internet? Could they insist that all tax returns must be printed in gold leaf on the finest vellum parchment? Could they insist that all tax filings should be done by authorised agents, who, no doubt, like St Matthew would be able to charge a fee, based perhaps on the amount of tax collected.
If anyone knows the legal reference or can confirm that there is none, I'd love to hear it.
- General tax book with planning 159 2
- Limited Company - Personal Bank Account 3,210 69
- 2013/14 failure to submit end of year submission 286 11
- Gift of property & improvements 121 2
- Error in past Corporate tax return 345 5
- VAT Invoice 140 4
- Company overdue but wants to be struck off 807 32
- IHT and Swiss Property 130 1
- Sale of house with planning permission - tax free? 221 3
- Flat rate Vat Scheme & Vat on wholesale production of Cakes and other deserts 188 7
- Vat code for journal entries of director's expenses 154 2
- Claiming VAT and missing receipts 453 10
- HMRC overreaching its powers -again against a small surveying firm? 377 8
- Help with tax codes on Sage 260 1
- Letting relief on property transferred to a spouse 188 6
- VAT code for invoice from not VAT registered company 258 4
- Accounting for a finance lease 166 4
- SA302's anyone?? 540 16
- A change from the old Q v NQ debate 1,645 41
- Renting for military reasons 195 2
- Skandia using wrong address 1,620
- Nil Rate Band Trust - index linked debt by way of charge over property 901
- International interest certificate 511
- NOVA 368
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 297
- Management expenses for investment company 264
- Bonus Bonds 261
- tax on apprenticeship income 173
- Entertainer withholding tax in Australia 173
- P11D benefit received by widow 150