I have just analysed the 2014/15 self-assessment returns that my firm completed according to month filed: -
1% Apr
5% May
9% Jun
7% Jul
6% Aug
6% Sep
8% Oct
7% Nov
9% Dec
42% Jan
I would emphasise that the January bulge is due to client procrastination, rather than our own!
I knew January was particularly busy this year but this is quite an eye-opener. It seems that clients are leaving it later and later each year.
Do other firms have a similar spread?
Replies (62)
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Revisit
If someone can point me to the specific section of the Taxes Management Act which makes my method illegal, I'll consider re-visiting it.
Not everything is in statute
If someone can point me to the specific section of the Taxes Management Act which makes my method illegal, I'll consider re-visiting it.
It must be common law that an agent has to have the permission of the taxpayer.
Not Quite
If someone can point me to the specific section of the Taxes Management Act which makes my method illegal, I'll consider re-visiting it.
It must be common law that an agent has to have the permission of the taxpayer.
The agent is acting on behalf of the taxpayer but that's not quite the same as requiring his permission to submit a tax return (irrespective of what HMRC or individual software packages may say/intimate).
What is important is the agreement between the principal (client) and the agent (accountant).
It's not the same thing I know but HMRC's own guidance states that agents can sign CT returns - why SA returns should be different I don't know. At the end of the day the taxpayer is responsible for the accuracy of the return so the agent needs to protect himself from the one chance in a thousand where a client tries to blame his accountant for inaccuracies in a return.
Quite
If someone can point me to the specific section of the Taxes Management Act which makes my method illegal, I'll consider re-visiting it.
It must be common law that an agent has to have the permission of the taxpayer.
The agent is acting on behalf of the taxpayer but that's not quite the same as requiring his permission to submit a tax return (irrespective of what HMRC or individual software packages may say/intimate).
What is important is the agreement between the principal (client) and the agent (accountant).
It's not the same thing I know but HMRC's own guidance states that agents can sign CT returns - why SA returns should be different I don't know. At the end of the day the taxpayer is responsible for the accuracy of the return so the agent needs to protect himself from the one chance in a thousand where a client tries to blame his accountant for inaccuracies in a return.
So why did you say "Not Quite" and then went on to agree with me?
The TMA does not have to specifically make it illegal.
Common law established this principle centuries ago. You cannot obtain an authority from silence. Corporation Tax returns are different, as the taxpayer is the company, and authority to sign can be delegated to any individual the company chooses.
A bit confused....
Is not JBenjamin saying that one DOES need positive authority from a client to submit a Tax Return?
Yes
Is not JBenjamin saying that one DOES need positive authority from a client to submit a Tax Return?
That was my interpretation.
I wouldn't file without the client communication (whatever the method) acceptance for me to submit their return.
Using Mr Mischief's method, if the client was sick and couldn't respond, he would take that as confirmation to submit. There is a risk that the client could take action against me.
If they were sick and I didn't submit because I had not received communication from them, at least I can appeal the penalty later for them.
mr mischief
He seems to be more worried about whether the law has changed than whether he understands the law.
Many of my clients submit their paperwork during the year but about a handful persist in sending their paperwork mid January which created unnecessary panic or even having to ask HMRC for an extension.
Interesting. But expected. I actively pursue my clients one by one. I don't (normally take on new clients after 31/7 and aim to finish all returns by 31/10. I just couldn't handle a post xmas rush which would mean greater chance of error.
MTD, based on these figures, will be a disaster.