Member Since: 21st Jun 2005
14th Nov 2018
Having recently taken the plunge and started using QuickBooks Online I now get the client to send a.csv file which is uploaded and use to populate bank payments and receipts. Fairly easy so far. My (huge) concern is that for builders who buy items on 50+ invoices per month but pay on one statement will have this as one payment on the bank records. Where is the digital input of all the 50 invoices going to take place? Am I to obtain a .csv from the supplier and start running a bought ledger? Or am I just (quite possibly!) extremely thick?!
24th Oct 2018
So to summarise...
evidence showed an “overwhelming lack of awareness and preparedness out there” from businesses and that the impression the committee had was that the project was heading for a “giant car crash”.
20th Apr 2017
And how accurate will the information be? At the moment, I often see people receiving erroneous tax refunds based solely from PAYE income (often a year or two later and out of the blue) - because their other income hasn't been taken into account!
The PAYE doesn't seem to be able to link to people's self employed records.
20th Feb 2017
Someone has already mentioned the Titanic. I know of two accountants locally who have already taken early retirement and jumped ship directly due to MTD. It is very tempting to join them. There's no sign of a lighthouse, just some very dim lights in some very tall ivory towers...
9th Feb 2017
Tim Fouracre has obviously never ventured outside of his digital bunker into the real 'analogue' world where most people through no fault of their own cannot even drive a spreadsheet - let alone cope with acquiring and using the new, yet to be devised software.
This is going to end in tears - for all concerned...
9th Feb 2017
Very well said!
8th Dec 2016
Put simply....there is a greater possibility that the four horsemen of the apocalypse will canter through my office...than there is that 95% of my self employed clients will cope with any part of MTD - unless I help them, and at least double their current bill
19th Oct 2016
Xero is dreadful - and I see they are sponsoring this article.
A lot of self-interested software developers pushing this with not a clue as to the implications to small businesses and the fact that a large proportion of them will never be able to cope with this!
29th Sep 2016
Tornado is spot on...the whole 'DIY tax' scenario has simply enabled the more IT savvy to have a go at filing their own tax returns. This has led to (in my opinion) particularly where CIS sub-contractors are concerned a cottage industry in filing returns that lead to inflated refunds. I have seen this from clients that have left and done this - where they are still showing as a client and I can see what they have received!
27th Sep 2016
No software been released yet so how can we even advise clients exactly what to expect or how long it will take them to become proficient - if at all.
Then, we are told that HMRC won't be checking the interim submissions be they daily/weekly/quarterly. They will instead be checking the End of Year Declaration.
Complete waste of everyone's time (apart from software developers and salesmen).
Seeing what utter tosh some ex-clients have filed and got away with I sincerely doubt anybody is checking anything!