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HMRC, please complete this sentance:
"HMRC ..... MTD roll-out will reduce the administration burden for businesses, because ......"
Am I the idiot, or am I the only person thinking that is unseemly for software providers licking their lips at the new costs imposed on clients through what is essentially part of the privatisation of the tax system.
It is wholly unacceptable that HMRC with HM Govt tacit approval is passing these costs on to the taxpayer.
It is bullsh*T that it will improve the system.
The b*gg**s cannot even constructively operate their telephones
Yet again the professional bodies have done nothing to support their members, becasue they would rather be friends and roll over to have their tummies tickled, than deal with this imposition.
This because we the members let them so do.
The ACCA AGM is Sept.15th. If you can why not turn up and let the mandarins know what you think. Don't complain-VOTE.
Iris - "The proposed changes and revisions contained with the consultation documents are welcomed by IRIS on behalf of our 17,000+ accountants, for whom these documents were a major concern. It definitely shows that HMRC is listening to not only software vendors, but agents and the market as a whole"
Wow, so they actually contacted all 17,000 accountants and obtained their approval in order for Iris to welcome HMRC's consultation documents? Or are Iris as out of touch with accountants as HMRC are?
Also said by IRIS, "It definitely shows that HMRC is listening to not only software vendors, but agents and the market as a whole" which drives these thoughts:
that the process is being driven by the large software vendors;
how are HMRC listening to agents? They certainly haven't asked me anything;
what in the name of heaven is the "market as a whole"? taxpayers resent being called customers;
this comment sounds more about profit potential than any great concern for taxpayers or their agents.
I haven't the slightest doubt either that software from the likes of IRIS will do the job or that the inevitable price increases will cause strained client relationships for the majority of agents.
IRIS may be able to cope with what HMRC force down our throats but large numbers of clients and agents will not.
A post-agent world? Are they truly insane? They just do not have a clue what goes on in the real world.
What a picture this all paints. Delusional HMRC, air headed politicians and a feeding frenzy of software companies.
Is it me or is accountingweb now sponsored by taxcalc, freeagent and bankstream?
I can't seem to tell what is advertising and propaganda and what is discussion anymore.
Meanwhile, in other news, HMRC continues to send out PAYE letters to agents about clients that owe money or are in credit but agents are still unable to go online and view a Client Statement of Account to sort it out :(
It feels like we as tax agents are the elephant in the room. If my job becomes redundant in the future then so be it, but HMRC are making a huge mistake by marginalising agents now
at the very time they'll need them the most.
A small thought. Banks,Building Societies and other sources of lending rely on accounts being produced to a widely accepted and understood set of rules which to some degree HMRC want to bin. Can anybody see a problem with that. So when the financial institution asks for accounts what will the client say and what will the banks say
So someone used my quote from another issue. Well it's nice to see someone is reading my thoughts even if they then dismiss them out of hand. Successful businesses produce profits which the Gov't can tax. So why don't I feel the Gov't are on my side since surely they want me to be as successful as possible? Am I missing something. Yes I have 50 clients NOT ONE uses commercial software. I took on a new client last year who used Sage. Their figures needed a lot of manual time on my part to correct because they were not accountants. This after their previous accountant had spent many hours trying to show them how the system works. I was able to show them (with my limited knowledge of Sage) some reports they could have run to help them but again realised they could not really understand these reports. Guess what - they used excel or its equivalent in Apple so I gave them a simple bespoke spreadsheet package. Bingo - accounts done with little correction and just the capital allowances to adjust. I have not told them the HMRC may insist they go back to using Sage or its equivalent. BTW their turnover is well in excess of £30,000. I think I'll let an HMRC employee tell them what they must do!!!! When will HMRC learn that no financial software package is simple. If it were we would be accountants. I repeat what INCENTIVE is there for most businesses to change their working practices. Why don't these software companies go and work in some of these small businesses and get a real taste of what REALITY is. I cannot believe a deadline has been set BEFORE consultation. MTD as it has been proposed should not be a given. Do you really want a lot of businesses to go bust before you get the message?
I still do not understand why everyone is so pleased at the amount in the consulting documents. All they ever are is window dressing to a decision that has already been made and process determined. I have seen them in previous issues abbreviated to "con docs", which does not go far enough, "con" will do
Clients always need a lot of help regardless of what they use and how they use it. What changes in MTD is how that help needs to be delivered. Accountants generally are under paid for the value they can create for clients and with a bit of imagination new opportunities exist to help more. A spreadsheet cannot connect to a payment service, a bank feed, a CRM system etc it cannot chase outstanding invoices to generate more cash for clients or easily connect to factor or discount an invoice. I believe change is inevitable and that those in the profession who adapt will reap the rewards. Darwin had a point.
Evolution had the benefit of millions of years. Taxpayers have one and a half.
Seems to me that HMRC and the software companies and of course you will be the ones reaping the rewards. Not taxpayers.
My practice uses a well known software company. We have almost 100 clients who are vat registered and 85 we do on spreadsheet. In order to get them onto a system that is cloud based and will link into the HMRC system they want £10 per month each. Those who will use cash accounting £1 per month each and we have 200 plus of them. It appears most software suppliers are going cloud and charging plenty for this. A clients vat return can take 1 hour to do. Accounts about a day or 2 and we give 1 bill. Now..... Try explaining that to a hard pressed dairy farmer
My practice uses a well known software company. We have almost 100 clients who are vat registered and 85 we do on spreadsheet. In order to get them onto a system that is cloud based and will link into the HMRC system they want £10 per month each. Those who will use cash accounting £1 per month each and we have 200 plus of them. It appears most software suppliers are going cloud and charging plenty for this. A clients vat return can take 1 hour to do. Accounts about a day or 2 and we give 1 bill. Now..... Try explaining that to a hard pressed dairy farmer
Great piece here for anyone interested.
https://blogs.accaglobal.com/
I particularly like "Tax systems exist for the benefit of society, not the other way around."