Well, apparently, it's Theresa Middleton, Director of the Making Tax Digital for Business Programme.
Here's what she says .....
Replies (24)
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RTI revisited?
"There have been suggestions that businesses and the self employed will need to submit four returns every year. This is not the case. Instead of sending in one large, onerous return every year, once a quarter businesses can check the information they are recording digitally is correct and press 'send' to update HMRC."
Instead of sending in one large, onerous P35 once a year in a time window that lets you plan it to fit in with your business you now have the easier option of sending in 12 / 13 / 52 / 64 / potentially 365 returns with strict deadlines & big fines if you don't.
Typical government 'speak'
The 'spin' is out of control. One day they will speak the truth .... and nobody will believe them because we are so used to getting no truth, half a truth, or an outright lie.
What questions were asked?
"Many businesses and self employed people have told us that they should not have to wait until the end of the year, or even longer, before knowing their tax bill."
This is quite startling. No one has ever said this to me. Who are these people ?
I'm guessing the question they were asked was weighted to produce the result e.g. Would you like to know your tax liability earlier to avoid making an overpayment and waiting several years for us to repay that money to you?
POA
Maybe they should have just changed to 12x POAs. Cant help but think that would much simpler for a similar result
Never do it simply
Maybe they should have just changed to 12x POAs. Cant help but think that would much simpler for a similar result
Good God man, The Government do something simple? Next you'll be suggesting they could have increased NI to give people a higher State Pension instead of introducing Workplace Pensions.....
Indeed it will be much more
Onerous, as the information included within the four returns will be transactional. This will mean those clients who keep,paper records for the year then pass to their accountants, or keep spreadsheets will no longer be able to do so. I had hoped that the system would allow a summary of information but this is not how the system is due to work. To supply transactional information clients will need some sort of cloud based software to capture this data or alternatively have their accountant doing the same. As a very small practice with virtually all my clients being at the small end, and due to start 2017/2018 it fills me with horror to be frank!
so, will they still need a final year tax return or a set of accounts?
does this include limited companies?
Data Protection?
Speaking from a personal point of view with regard to my SATR:
I am totally against uploading any transactional data to HMRC.
I do not wish to share my account details with anyone e.g. mobile phone, landline phone, supplier accounts etc
This aside, none of my clients prepare their accounts - that is why they engage me - as the majority of them don't use a PC never mind a smartphone!
This MTD has not been thought out properly and will just create major problems for the small business and small landlords.
Precisely
Well, the more stuff on the internet, the more chance you have of being hacked.
Which is why up to now I have refused to move over to cloud accounts software.
However, looks like I will have to eventually.
I'm 'hacked off' as it is with all this MTD so to have my PC hacked would be the final nail in the coffin!
Who is to blame ?
WE ARE.
We allow HMRC to get away with these daft proposals time after time, meekly complying with their outrageous impositions on ordinary people simply trying to earn a decent living.
We should be protesting, lobbying MP's, and refusing to cooperate with HMRC.
So, if you want to see who is to blame - look in the mirror.
Are you leaving Ruddles?
Speak for yourself
Goodbye
I have made 5 comments since joining this site, and immediately after 4 of them identical posts to the above have been posted by "Ruddles". I assumed this to be a site for professionals to exchange views and information. Perhaps someone should tell Ruddles where the kindergarten section is.
What are the various institutes doing about it?
We've heard hardly anything from them.
There is not much time to put procedures into place.
@JAAdams
It think the various institutes will rely on accountants in practice to sort the processes and procedures out for this, expect many "invites" for working together groups over the next couple of years, we will be doing the wok!
Shouting from the sidelines?
JAADAMS has posted recently on (yet) another Aweb MTD thread commenting on possible HMRC staff attitudes and those of software houses involved in the project. It seems likely the PBI in HMRC are not very sold on the project and the message from the software house quote and general impression is that most of the conversation on this so far has been within the new technology industry and the Government/Treasury/ specialist HMRC appointees. Naturally the conversation goes something like: "Gov: can you jump if we/others reward you? New techies: Yes of course, how high?"
Can't really blame the commercial organisations for general assent attitude, it's their raison d'etre after all and at a push can even see how the promoters on the other side being true believers in the scheme can't be expected to raise possible dissenting voices, but what can be objected to is the effective disenfranchisement at this most important early phase of effective input by the planned operators and users of the scheme ie HMRC staff, taxpayers (customers!) and their agents. Why are we not in at the heart of devising workable solutions, rather than simply being fed proposals and outcomes?