HMRC decide PM today to stretch the penalty date a mere 28 days
We all know HMRC did not decide, they were instructed
What a waste of time that is
Too late to be a benefit to anyone at all
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Yep!
Mind you I anticipated they would do something similar except my money was on 5pm on Friday 29th based on their past performance!!
There's no pleasing some people. If it had been announced earlier, folks here would have been up in arms about clients taking advantage and leaving it until the last week of Feb to hand their records in. As things stand, the majority of agents and taxpayers will have been working to the usual deadline - last time I looked we were in pretty much the same position as last year %-wise. At least we now have some breathing space to deal with the genuine stragglers.
Nonsense. I'll pull no punches - we worked our backsides off, doing Saturdays and evenings to make sure no one was left behind. This because they told us there would be no extension.
We're only in a similar position to last year because we've worked twice as hard to deal with the increased COVID admin as well as to do the returns because of what they told us.
Then they extended.
Helps with one of mine who hasn't dealt with their French income yet!
It would have been nice if they had used "furlough announcement timings", and sent it through late Friday so I could have taken Saturday off!!
If this really was imposed on HMRC then you have to wonder how the 'decision makers' ever got to where they are - Brittas effect?
There must've been a flashing number showing estimated returns were coming in at a much higher rate than usual (supposedly the system flags them up from the tick box)...and from that it SHOULD have become obvious this course of action was required.
The amount of extra work involved in appeals to penalties and *fixes would've been off the scale and, with everything else backed up, they'd never get on top of it.
Perhaps BJ should give the running of HMRC over to El Chapo. He knew how to run a tight ship - bad team members would be (gun)fired and debt collection problems wouldn't arise either!
* for example
We've had to refile returns before (ooh! I forgot about that income) and, even if you have software that sends as an 'amended' return, they really do struggle to do those amendments. Rarely, if ever, does the online agent portal then show the amended figures and an amended return date.
Thanks, Paul - your comment about "they were instructed" was an interesting one.
Who would you say did the instructing - Chancellor, prime minister or some other player or factor I'm not aware of?
While scouting around for media reports and responses, I did see The Times thundering for HMRC to bow to the inevitable to relieve its "overwhelmed" system.
Even if granted late in the game, it is a useful concession, but I'm still perplexed about who might have swung it.
For more feedback from professional bodies and accountancy firms, have a look at Richard's news piece: https://www.accountingweb.co.uk/any-answers/late-filing-penalties-suspen...
If they hadn't done anything HMRC would probably have been bogged down in penalty appeals so its probably the line of least resistance.
Woe betide any client who tries it on with us, given that we've been working our [insert gender neutral or specific body part name here] off and the last thing we want is the tax return season dragging on. Could always introduce our own penalties I suppose.
Not too late at all, it's definitely of help to me. Sure, they could have announced it a week or two ago, but I actually appreciate the timing or I'd have certain people emailing me their stuff at the end of Feb.
Things are pants, be grateful for a bit of leeway.
Yes, I agree, I think it's great, not too late at all. Thankfully, I'm not involved in SA at all, I only do payroll. But those in the accountancy department where I work have been slaughtered with very little chance of having all the returns filed by the end of January, and this week looked to be horrendous for them. So I am delighted for our accountants, and any others involved in SA, that they've been given a little more leeway. Every little helps