Self-employed and buy to let come into MTD in April 2017 if they have income over £10000, I think.
There are certain groups who have to file an SATR whatever their income, and they have their own supplementary pages designed for their circumstances. One such is Ministers of Religion. Some get benefits in kind, eg a manse, but more get occasional income not otherwise classifiable, such as weddings and funerals, and occasional cash gifts outside the normal offering, which would be classed as tips if they drove taxis or cut hair. Their last SATR's will be 2016-2017. In future, how will they report these under MTD?
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Romans 11:33 (the new MTD version)
"O the depth of the riches both of the wisdom and knowledge of HMRC! how unsearchable are their judgments, and their ways past finding out!"
and there was us waiting for the consultation response! that didn't make much difference.
what makes you think we will learn much during the budget?
HMRC are trying to make everything a last minute [***]-up.
what makes you think we will learn much during the budget?
Maybe we'll get some legislation. It's a start.
It would seem even God cannot help you when it comes to MTD.
At a recent agent briefing over MTD the HMRC guy claimed the driver behind MTD was they see the tax black hole comes from sole trader unrepresented end of the market and not the bandits who salt £m's off overseas.
Perhaps this could bring in a whole black market of weddings and funerals performed for cash "no questions asked"
God help us all.
At a recent agent briefing over MTD the HMRC guy claimed the driver behind MTD was they see the tax black hole comes from sole trader unrepresented end of the market and not the bandits who salt £m's off overseas. .
if that is the case it makes their current approach illogical, if they want smaller taxpayers represented they ought to carry the profession with their MTD vision rather than attempt to steamroller over their concerns.
I think HMRC speak with forked tongue, what they really want is daft numbers of unrepresented taxpayers whose tax knowledge extends to the ability to "say cheese" to an invoice, any invoice; lets face it, nearly everyone can take a photo but they are not all photographers
As an example my other half seems to be able to always get any tree in the vicinty coming out of the subject's head, an uncanny ability and shows real consistency of approach; on the plus side she can at least work her phone, I struggle switching mine on.
Perhaps this could bring in a whole black market of weddings and funerals performed for cash "no questions asked"
God help us all.
I can see funerals working on a no questions asked basis, in fact asking questions and worse getting an answer would be unnerving to say the least, but for weddings I think you do need the odd "Do you take this......." and the odd "I do".