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9am Lowdown: Taxpayers shun paper and file SA online, reveal HMRC

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3rd Feb 2016
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Good morning. Here’s this morning’s Lowdown.

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Taxpayers shun paper and file SA online

HMRC has revealed that 89% of self assessments shunned paper and filed online. A slim 11% of submissions relied on filing their paper before the deadline.

Friday saw the highest traffic of taxpayers flocking online to file their self assessment between 14:00 and 15:00. 50,358 surged onto the site to submit their forms.  HMRC has also revealed that one in 13 tax payers failed to file their tax returns online before the deadline. The FT expects the 870,000 taxpayers who will incur the deadline penalty will in total hand over £87m to HMRC.

Ruth Owen, HMRC’s director general, said: “Each year, we are dedicated to making the self-assessment process easier and more intuitive". Owen also revealed that more than 325,000 used the live webchat capabilities to assist their submission.
 

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Neymar charged with tax evasion

Barcelona and Brazil striker Neymar has been charged by Brazillian authorities with tax evasion.

Neymar is alleged to have falsified documents between 2006 and 2013, reports The Daily Mail.  The Prosecutors have also charged Neymar’s father, who they accused of being the “mastermind of a series of contractual frauds. They have also charged two senior Barcelona management figures, the club’s president Josep Maria Bartomeu, and his predecessor, Sandro Rosell.

The prosecutors said in a statement: “They forged a series of documents between 2006 and 2013 with the intention of reducing the taxes owed to the inland revenue in Brazil. Neymar's conduct, along with the others accused, caused millions in losses to the public coffers."

Neymar’s charge follows fellow footballer and Barcelona team mate Javier Mascherano’sone year sentencing over a £1.1m tax fraud charge. 

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Community: Time or money

AccountingWEB member JayB2606 has pondered whether professionals sell their time or knowledge. To help them comprehend the answer, they turned to Any Answers to hear the views of their fellow professionals.

JayB2606 said: “Most partners, supervisors that I have worked under have tried to embed in me that we sell time; now I have never fully believed this philosophy. I believe as professional’s (not just accountants), we sell knowledge; this is why we trained to do what we do and continue to train through CPD.”

Cheeky Chappy offered first, saying “Time is our commodity. The cost of that time is based on knowledge.”

However, Adrian Pearson waded into the debate with option C. He said: “Sorry all, but I would argue that accountants do not sell time or knowledge, they sell an outcome.”

So, what do you think? Do professionals sell time or knowledge? Head across to Any Answers and offer your view.

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PJ
By paulgrca.net
03rd Feb 2016 13:16

Taxpayers shun paper and file SA online!

Do not think this is an accurate statement

89% of returns submitted online but the vast majority (would be via agents).

So does that mean the 11% who submitted on paper do not have an agent?

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Stepurhan
By stepurhan
03rd Feb 2016 14:10

Paper returns issued?

Are paper returns still issued as a matter of course, or simply a notice to file? I can't remember the last time a new client brought in a paper copy that they had been sent to complete. If not sent out as a matter of course is it more a case of "Taxpayers pushed into submitting online".

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