Member Since: 8th Jun 2007
Tax Partner Smith Kiew Partnership
12th Apr 2018
Am I the only sole trader tax practitioner that is struggling to understand EXACTLY what this means and what I need to be doing? Like many others I prepare Tax Returns and accounts with software on the Cloud and e-mail them to clients for approval. I also handle payrolls for clients and submit under RTI and deal with Auto Enrolment using the same payroll software. I NEVER send marketing letters to clients.
Any very simple advice as to what I should be doing?
17th Jul 2017
Get real everyone, there are two reasons this has stalled. BREXIT and the immense time and effort this is going to take and the floundering Tory Government after the recent General Election.
9th Jun 2017
Anyone with half a brain and no racist tendencies will be pleased that Brexit is now likely to be watered down.
7th Nov 2014
I quite agree with your comments Old Greying Acc and I fall into the category you describe. All I feel is that I need continue to look for ways to slowly increase my client base as I think I need to be aware of some clients getting older, retiring, dying off etc. I'm not convinced that having a great website would get me the sort of clients I want anyway. Referrals are the best and have got me to this point quite well - in practice on my own now for 27 years.
14th May 2014
Tax avoidance is the word?
I don't know the exact details of how the Icebreaker scheme worked but the similar sounding schemes I have come across are DEFERRAL schemes. In other words Barlow and the others would have had tax refunds which it would have been made clear to them by their advisers they would have to pay back over 15-20 years. They should therefore have the refunds sitting somewhere or spent them on buying something like a property which they will have to liquidate and pay the tax refund back to HMRC.
Therefore they will "only" be out of pocket for the up front amount they paid to the promoters, normally up to 20%, plus of course interest to HMRC.
Am I wrong?
17th Dec 2013
New LLP rules
How will these changes impact on LLP's where they are structured to remunerate business owners on a self employed basis up to the 40% level and the balance of profits to a ltd co which is also one of the partners of the LLP?
11th Jun 2013
Tax schemes: Lessons for accountants
I haven't read through the case in great detail but the thing that surprises me a little is why did the firm's insurers not put a stop to the case sooner? Surely they must have thought the accountants' reasons for not advising on non-dom issues were a bit weak.
In my (limited) experience of insurers they will always want to do a deal and avoid legal costs where they can.
3rd Jun 2013
All responsible tax advisers would agree that some of the film schemes were too aggressive but I feel that Nick you're misleading readers when saying "for every £20 higher-rate taxpayers invest they can get £40 from the taxman".
All of the schemes I have seen (most of which were originally accepted by HMRC) are nothing more than a cash-flow advantage to the investor because they have to repay the £40 over the lifetime of the scheme.
20th Sep 2012
Not sure I follow you on this one; are you saying because I'm struggling to get more 'good clients' I'm just a number cruncher? I already have quite a number of very wealthy high profile tax clients most of whom I've known for years and who are very happy with the service and advice they receive. I've never advertised since becoming self employed over 20 years ago having relied on referrals which served me well until the recession really took hold. I believe I'm pretty up to speed with things in that I attend regular courses etc but I don't pretend to be an expert in anything just a good experienced 'GP'.
20th Sep 2012
Hope I didn't start all this! All I was trying to get across was that IMO being an 'expert' is of no use in the real world except in the very big firms or if providing advice to other firms.
I have worked for large and small firms (now a sole trader) and I don't believe I need a gimmick or advice on how to keep clients i.e good service and proactive advice they understand works. Clients come in all shapes and sizes and as mentioned above will pay for advice only if they understand it and it is of relevance to them.
The advice I need (and I suspect I'm not alone) is how to find more clients with wealth not bothered by the recession who are prepared to pay my (reasonable) fees. I don't feel being an expert would help at all, perhaps a different personality to attract clients might do but I don't think I could buy one of those. Either that or having contacts from going to a select school/uni but I can't turn the clock back.