AccountingWEB quotes of the year 2017

Media interview
istock_microgen
Share this content

Every year AccountingWEB trawls our blogs, articles and Any Answers threads to present a snapshot of the past 12 months by picking out key quotes and comments. Here are this year’s offerings:

* * *

“They’ve taken the digital out of Making Tax Digital,”

Sion Lewis, CEO of IRIS accountancy division, told AccountingWEB shortly after the publication of the MTD consultation response on 31 January.

* * *

“I want to go on holiday and truly, truly switch off. Or wake up one morning knowing that nobody, nobody, will be chasing me for anything.”

As AccountingWEB member wilcoskip approaches his 20 year work anniversary he revealed on Any Answers that he's had enough.

* * *

“Had a few [clients] who blamed me for not reminding them, but after umpteen years of SA they know when the deadline is.”

Kate R felt the brunt of the annual client chasing event.

* * *

“Prof Richard Murphy... I think I'm in love! His summary/thoughts on MTD in front of the committee were right on and I note that there was murmuring in agreement in the background by other attendees. I felt that John Whiting didn’t press the problems.”

Jennifer Adams hails an effective intervention by the tax justice campaigner before the Lords Economic Affairs Committee hearing on MTD in February.

* * *

“What sort of program is going to be able to magically extract the necessary information from any spreadsheet and send that to MTD compliant software? They also probably assume that all spreadsheets are created in Excel when of course this is most definitely not the case.”

After HMRC announced its reprieve for spreadsheet records within MTD, AccountingWEB member Tornado questions how the system will actually work.

* * *

“Take more time, have a longer pilot, and start with larger companies.”

Lord Hollick offers some rather prophetic advice to HMRC on how to approach Making Tax Digital implementation.

* * *

“We would make sure that the correct person was known very quickly. Whether that entails stopping the show, us walking onstage, us signalling to the stage manager — that’s really a game-time decision, if something like that were to happen. Again, it’s so unlikely.”

PwC accountant and Oscars adjudicator Brian Cullinan revealed to the Huffington Post what would happen if a presenter announced the wrong winner days before that very scenario actually happened.

* * *

“Having sat through an hour of almost unrelieved tedium and bad jokes, it might have been better for all concerned had the Chancellor of the Exchequer kept his powder dry until November.”

Philip Fisher on the Spring Budget

* * *

“Well if you want to be a lumberjack I would act now, there is a rush towards this most favoured of occupations for former accountants.”

DJKL predicts an exodus from the profession as a response to HMRC’s MTD plans.

* * *

“The government will provide an extra year, until April 2019, before Making Tax Digital is mandated for unincorporated businesses and landlords with turnover below the VAT threshold.”

Budget documentation on 22 March signals an easing of the requirements for the new digital tax regime.

* * *

“Professional bodies are not for profit organisations, there is no way they can absorb this so they will have to pass it on.”

Malcolm Trotter from the International Association of Bookkeepers slams the new Office for Professional Body AML supervision group as “not morally right”.

* * *

“Don't you just love 'em. Whilst 'tax simplification' moves at a snail's pace tax complication moves like Inter city 225.”

RPTAS on how errors in tax return software forced paper filing.

* * *

“It’s a foolish politician who makes promises not to increase taxes before a general election”

Rebecca Cave on Philip Hammond’s Class 4 NIC U-turn.

* * *

“As a sole practitioner, I will end up doing nothing BUT compliance work. Which I don't mind at all, but it's laughable how these gurus say we'll won't need to do it anymore and have time for lots of cups of teas with our clients for business planning!”

Spreadsheet User on the news taxpayers would make six submissions under MTD.

* * *

“I am pro spider - anti fly, but it appears I am in the minority”

Democratus on this Any Answers thread for the ages

* * *

“We are almost spending more time on bureaucracy as we are on earning.”

Ammie on the prospect of new anti-money laundering regulations.

* * *

“I hope everyone loses the election”

Duggimon on politics

* * *

“I am sure Theresa May is sitting there even as we speak pondering over what she should do with MTD.....what else could she be thinking about.”

Tom7000 after Theresa May’s tactical gamble to improve her parliamentary majority failed spectacularly.

* * *

“Businesses agree that digitising the tax system is the right direction of travel. However, many have been worried about the scope and pace of reforms. We have listened very carefully to their concerns and are making changes so that we can bring the tax system into the digital age in a way that is right for all businesses.”

Mel Stride, who was appointed Financial Secretary to the Treasury and Paymaster General after his predecessor Jane Ellison lost her seat in the June election, announces a revised timetable for Making Tax Digital on 13 July.

* * *

“Really pleased I haven't spent any time encouraging my clients with t/o below that VAT threshold into using any digital products.”

AccountingWEB member Killer33 responds to the Treasury announcement on MTD.

* * *

“Don’t let it become out of sight, out of mind - complacency will kick in.”

Sion Lewis from IRIS urges accountants to get digital sooner rather than later.

* * *

“Stamp on his toes then kick him in the shins, I say.”

Andy Partridge on illegal street trading.

* * *

“I started listening to that inner Basset hound. It was not necessarily graceful, but it was the sloppy-eared heart and soul of myself.”

Geni Whitehouse says being true to yourself lies at the heart of building your brand.

* * *

“I feel like packing it all in and sailing into the sunset and then finding a completely unstressful job that at the end of every day I can leave work at work and go home and forget.”

A stressed sole practitioner described how unappreciative clients and working seven days a week has driven them to feeling like a “complete failure”.

***

“The first step in healthy GDPR compliance is awareness: gaining an informed understanding of what the data protection revamp does involve. That means being able to separate the GDPRubbish from the GDPR and recognise what the requirements do not involve.”

Heather Burns discusses how GDPR is being squeezed for every drop of snake oil possible.

* * *

“We still have the spectre of duplicated records hanging over all PAYE schemes.”  

Kate Upcraft in PAYE codes: Emerging problems

* * *

“Every time Mr Dimon makes a comment it seems to be a great time to purchase bitcoin. I believe that people shouldn't throw stones in glass houses, if I recall JP Morgan suffered $20bn in fines not so long ago.”

Baroness Michelle Mone takes aim at JP Morgan’s Jamie Dimon for his disparaging remarks about bitcoin.

* * *

“The FRC is too close to the auditing industry. It is not effective, independent or robust and does not do anything on a timely basis. Its own accounting and auditing standards are also sources of failure (think about accounting for derivatives, expected-loss model, etc.) and under its watch by its own admission, many companies have paid illegal dividends.”

Prem Sikka calls out the FRC for its investigation of auditors.

* * *

“When I see the letters MTD, the words "Norwegian Blue" spring to mind.”

Leon0001 on MTD’s exclusion from the finance bill.

* * *

“It’s not lowballing fees. It’s charging the right price in the technology-led 21st century.”

Elaine Clark ignites a fee debate.

* * *

“Whilst I’m fortunate that sexism hasn’t been a major factor in my career, it has always been there lurking to some extent.”

Della Hudson revealed how everyday sexism has affected her career.

* * *

“If HMRC’s systems continue to be so poor, I expect more employed taxpayers will need our help.”

At the ICPA practice evolution event, Tony Margaritelli says why MTD won’t change the role of the accountant.

* * *

 “I know you will say the answer is get all tooled up on the cloud but you're dealing with a lot of good business that aren't computer literate and don't want to be. I see this whole MTD malarchy as nearly a failure as Universal Credit. Idea good, in practice, crap.”

JohnJenkins on the MTD webcast.

* * *

“My dad is a chartered accountant, and worked as an internal auditor for over 30 years, so as a kid I was brought up with my mum taking Hello magazine on family holidays, whereas dad would relax on the beach with a book on the fundamentals of risk management.

Practice Excellence host Rachel Riley proving why she was the popular choice to preside over the ceremony.

* * *

“The client is not who accountants were incorporated to serve. The profession exists to serve the public. If it can’t live with that, sweep the whole damn lot of professional bodies away and let’s start again.”

Richard Murphy responds to the Paradise Papers leak.

* * *

“It beggars belief! There are a million ways the OTS could simplify the UK tax system for small businesses. Instead, they try making it miles more complex for a million of them.”

Mr Mischief on the OTS suggestion to lower the VAT threshold.

* * *

“AI is already here – there are firms doing it, and not just the Big Four.”

Gordon Roxon from Mindbridge hails the age of AI at the Alternative AI for the professions conference.

* * *

“I know that Jeremy Clarkson doesn’t like them, but there are also other reasons to pursue this technology.”

The Chancellor justifies his sci-fi obsession with self-driving cars, but not before making a joke at Jeremy Clarkson’s expense.

* * *

“After @DavidDavisMP’s unacceptable remarks, it’s time the UK government restores trust. These amendments will further toughen up our resolution.”

The EU’s chief Brexit co-ordinator on David Davis’s comments calling the first agreement “a statement of intent”. 

About Richard Hattersley

Richard is AccountingWEB's practice correspondent. If you have any comments or suggestions for us get in touch.

Replies

Please login or register to join the discussion.

27th Dec 2017 14:04

I'm not sure why a website dedicated to accounting professionals is endorsing Richard Murphy's ill-informed suggestion we all be swept away if we don't fall into line. What made this a "quote of the year"?

Thanks (1)
avatar
By chatman
to stepurhan
29th Dec 2017 10:08

stepurhan wrote:

I'm not sure why a website dedicated to accounting professionals is endorsing Richard Murphy's ill-informed suggestion we all be swept away if we don't fall into line. What made this a "quote of the year"?

Presumably because it was interesting.

Thanks (2)
avatar
02nd Jan 2018 11:10

I'll send the tenner by e-mail, Richard.

Thanks (0)
avatar
By chatman
to confblgbmn
04th Jan 2018 13:16

Do you ever get any business from this sort of advertising?

Thanks (0)
avatar
16th Feb 2018 04:33

Thanks accounting web team for sharing these quotes with us. These are really a True Wordings about the business and finance. I like these quotes and I really appreciate your efforts.

Thanks (0)