All things that claim they are 'for our protection' should be looked at very carefully. The detailed meaning of both 'our' and 'protection' is of course critical. The resulting information from the chips will become power, as we now know from Google/Facebook etc, and we all know what power does to people.
I suggest that, if this is to be allowed (and I think it should not be) , all people in charge of an organisation using employee implants(CEOs and the like) should have to have, as a legal requirement, an implant (identical to the employee one) in themselves which is monitorable by the employees. If is to be legal I think that all MPs (and above all the Prime Minister) also should have an implant, the data from which is accessible to the public.
Thank you, Rebecca, for listening to the Webinar; it does not look much of an update from HMRC. I thought we already knew what was said Is there anything new (or helpful) at all in this?
Is this really going to happen? GDPR then MTD, what next It's clearly going to be seamless like exiting the EEC. Aaaaarrrrgh! Sole practitioner nightmare.
HMRC's 'No slippage' is peculiarly relevant today as I look out of the window.
If I was born before 6th April 1945, I would now be 72 years old and have been entitled to my state pension before 6th April 2010. How is this person who is being asked for further 5 years contributions before 2027 affected by this 39/45 year rule? I have not seen the original Anne Accountant post.
Thank you Rebecca for a simple set of suggestions.
1. Raise CT. Sounds sensible, the rate is probably now too low. This does connect with dividend tax of course.
2. Removing ER will cause shock horror but the CGT rates are now low. Is ER really the reason people go into business?
3. Capping PPR will be fun to get through Parliament.
4. Aligning NI rates will upset Ian D-S and his white van man. Arguments against it are a bit feeble.
5. Increasing dividend tax. Why impose a general extra tax on income of this sort only? What about property income and interest? Possibly raise it on 'close company' dividends only as this was surely intended to counter the NIC savings for such companies.
6. A statutory test for self-employment would be interesting as the details of it might well be fitted up by HMRC/Phil if noone is paying attention.
7. Charge more Council Tax to valuable houses. At what level should this kick in? Basically soak the rich and, I suppose, why not? Becomes then increasingly a property tax rather than a council services tax.
8. Reform of SDLT. The whole thing has just been done over and it is pretty complicated. For heavens sake leave it be. Some of the more awful complications of it might be removed.
My rural broadband speed (synchronisation) is found on test to be 600k. The actual download speed for files is about 90k per second. It just about works and breaks down with some frequency. What is this nonsense about 10Meg synchronisation? I am about three miles from the cabinet which is fibre enabled. I am not isolated as there are plenty of houses on the route. Why doesn't the government simply provide fibre to everyone? It is now a basic necessity of life like tarmac roads. Infrastructure is terribly important. No wonder the UK economy is incredibly inefficient.
'The government has acknowledged that things have to change'. No, the government/HMRC wish things to change (and mostly for its benefit). What it has 'acknowledged', and only very recently, is that what they set out to do was quite likely unachievable and a bit unpopular. Presumably it will continue trying.
I am slightly (and possibly paranoidly) bothered about the February OTS report in which it considered (among many other things) the implications of the VAT registration limits being reduced, conceivably, I suppose, to the magical £10,000. Should this possibility be reducing our elation at the news about the (as mentioned by others, slightly unclear) deferment or partial cancellation of MTD requirements?
Paul Jeffcoate does not mention the possibility that 'workers' may have to be provided with auto-enrolment rights while remaining 'self-employed'. Does he or anyone else have thoughts on this?
What about income from investments held in bare trust? Banks will not allow any accounts to be held formally in this way. Will this not result in incorrect data being sent to HMRC by companies and banks?
I do not think it 'startling' that a majority of accountants have not talked to their clients about MTD as what is actually going to happen is very unclear. I was waiting until the matter was clearer, perhaps at the budget time. Do we need to worry clients about something we do not know enough about yet?
My answers
All things that claim they are 'for our protection' should be looked at very carefully. The detailed meaning of both 'our' and 'protection' is of course critical. The resulting information from the chips will become power, as we now know from Google/Facebook etc, and we all know what power does to people.
I suggest that, if this is to be allowed (and I think it should not be) , all people in charge of an organisation using employee implants(CEOs and the like) should have to have, as a legal requirement, an implant (identical to the employee one) in themselves which is monitorable by the employees. If is to be legal I think that all MPs (and above all the Prime Minister) also should have an implant, the data from which is accessible to the public.
Thank you, Rebecca, for listening to the Webinar; it does not look much of an update from HMRC. I thought we already knew what was said Is there anything new (or helpful) at all in this?
Is this really going to happen? GDPR then MTD, what next It's clearly going to be seamless like exiting the EEC. Aaaaarrrrgh! Sole practitioner nightmare.
HMRC's 'No slippage' is peculiarly relevant today as I look out of the window.
State Pension NIC Contributions.
If I was born before 6th April 1945, I would now be 72 years old and have been entitled to my state pension before 6th April 2010. How is this person who is being asked for further 5 years contributions before 2027 affected by this 39/45 year rule? I have not seen the original Anne Accountant post.
I don't get it.
Thank you Rebecca for a simple set of suggestions.
1. Raise CT. Sounds sensible, the rate is probably now too low. This does connect with dividend tax of course.
2. Removing ER will cause shock horror but the CGT rates are now low. Is ER really the reason people go into business?
3. Capping PPR will be fun to get through Parliament.
4. Aligning NI rates will upset Ian D-S and his white van man. Arguments against it are a bit feeble.
5. Increasing dividend tax. Why impose a general extra tax on income of this sort only? What about property income and interest? Possibly raise it on 'close company' dividends only as this was surely intended to counter the NIC savings for such companies.
6. A statutory test for self-employment would be interesting as the details of it might well be fitted up by HMRC/Phil if noone is paying attention.
7. Charge more Council Tax to valuable houses. At what level should this kick in? Basically soak the rich and, I suppose, why not? Becomes then increasingly a property tax rather than a council services tax.
8. Reform of SDLT. The whole thing has just been done over and it is pretty complicated. For heavens sake leave it be. Some of the more awful complications of it might be removed.
My rural broadband speed (synchronisation) is found on test to be 600k. The actual download speed for files is about 90k per second. It just about works and breaks down with some frequency. What is this nonsense about 10Meg synchronisation? I am about three miles from the cabinet which is fibre enabled. I am not isolated as there are plenty of houses on the route. Why doesn't the government simply provide fibre to everyone? It is now a basic necessity of life like tarmac roads. Infrastructure is terribly important. No wonder the UK economy is incredibly inefficient.
'The government has acknowledged that things have to change'. No, the government/HMRC wish things to change (and mostly for its benefit). What it has 'acknowledged', and only very recently, is that what they set out to do was quite likely unachievable and a bit unpopular. Presumably it will continue trying.
I am slightly (and possibly paranoidly) bothered about the February OTS report in which it considered (among many other things) the implications of the VAT registration limits being reduced, conceivably, I suppose, to the magical £10,000. Should this possibility be reducing our elation at the news about the (as mentioned by others, slightly unclear) deferment or partial cancellation of MTD requirements?
Paul Jeffcoate does not mention the possibility that 'workers' may have to be provided with auto-enrolment rights while remaining 'self-employed'. Does he or anyone else have thoughts on this?
What about income from investments held in bare trust? Banks will not allow any accounts to be held formally in this way. Will this not result in incorrect data being sent to HMRC by companies and banks?
I do not think it 'startling' that a majority of accountants have not talked to their clients about MTD as what is actually going to happen is very unclear. I was waiting until the matter was clearer, perhaps at the budget time. Do we need to worry clients about something we do not know enough about yet?