We have a number of issues that make us uncomfortable with regard to tax credits as a professional firm.
One area is we have a number of clients, who it is impossible to know there correct income as at 31st January each year.
One is a property client, who it takes a good year after the event to prepare accounts to get a true position of all expenses, a lot of this to do with the mortgages and dates and is no fault of ours or the clients. The other new self-employed clients.
We have noticed a number of clients recently have effectively under-declared there income for 2010 and whilst we write to HMRC TCO and inform them in the past they have said they can not accept these amendments as they are out of date. Any thoughts and solutions around this would be welcome.
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