So you haven't spoken to your clients about MTD? Explained how it will affect them? Encouraged them to use better systems to store expenses and create their own invoices, not spoken to them about such software as Dext? Considered changing their accounting periods to align them with the MTD quarters? Invested in and set up clients on MTD compliant software for those clients most likely to be affected by MTD?
Nothing at all?
As for HMRC, well we all know that they are useless, increasingly so in fact, but unlike bad clients we are stuck with them.
Our simple solution was to resign from many clients who were the "usual suspects". Approximately 60 or so over the last 4 years have been relieved our of services, with absolutely no regrets here.
We are still busy over December and January of course but the work is manageable. Without the additional time spent this year on preparing our practice and clients for MTD (sorry for reminding you all) we would have had a very comfortable January.
As for the suggestion of increased penalties, hell yeah! £100 has been the late filing penalty for as long as I have been in practice and is completely out of date. A minimum of £500 should apply in my opinion.
I really don't want any delays in the implementation of MTD for ITSA. Either go ahead with it or scrap it in my opinion.
This year we have set up 40% or so of those clients that will be affected by this on compliant software, that is a lot of time and effort on our part (not to mention the additional software costs too).
As for those who mention the VAT threshold, well I suspect that once onboard with MTD for ITSA our beloved government will lower the VAT threshold considerably. A lower threshold of 45k was mentioned by "think tanks" a few years ago, no doubt testing the waters.
The 10k MTD exemption turnover threshold is very low in my opinion, that should be at least 15k.
"It has taken a conflict and a very long time for our leaders to recognise that the City of London has long been a natural harbour for very wealthy criminals."
I find it hard to believe that it took a very long time to realise this!
Anywhere in the world, anywhere, where there is obscene wealth there will be shady types. Turning a bind eye is (finally) becoming less acceptable now.
I do hope the Saudis start getting more media attention following the recent 81 executions in one day. Sport has a tendency to sell out to the money, given the recent anti-Russian revolt I hope that extends to the barbaric Saudis too.
I'm with you on this. Some of the best accountants I have worked with have had no qualifications. Some of the worst were fully qualified ACCAs (3 immediately spring to mind).
Letters after your name does not necessarily guarantee a quality of service provided.
Paul, you were pleasantly modest in the promotion of Dext, so allow me ...
We have been using it for over a year and are thankful that it exists! Clients like it, which is a bonus. Its integration with Xero is a real bonus too.
For those who are still receiving all client invoices and expenses via the post I would suggest that you seriously look into using Dext/Xero. The time savings are incredible. With MTD for income taxes lurking we would not would have no chance in maintaining a level of service without Dext.
My answers
So you haven't spoken to your clients about MTD? Explained how it will affect them? Encouraged them to use better systems to store expenses and create their own invoices, not spoken to them about such software as Dext? Considered changing their accounting periods to align them with the MTD quarters? Invested in and set up clients on MTD compliant software for those clients most likely to be affected by MTD?
Nothing at all?
As for HMRC, well we all know that they are useless, increasingly so in fact, but unlike bad clients we are stuck with them.
"People like you think it's great fun watching the state punish others. But eventually they come for you and your money and your liberties."
The paranoia is strong in this one.
Our simple solution was to resign from many clients who were the "usual suspects". Approximately 60 or so over the last 4 years have been relieved our of services, with absolutely no regrets here.
We are still busy over December and January of course but the work is manageable. Without the additional time spent this year on preparing our practice and clients for MTD (sorry for reminding you all) we would have had a very comfortable January.
As for the suggestion of increased penalties, hell yeah! £100 has been the late filing penalty for as long as I have been in practice and is completely out of date. A minimum of £500 should apply in my opinion.
I really don't want any delays in the implementation of MTD for ITSA. Either go ahead with it or scrap it in my opinion.
This year we have set up 40% or so of those clients that will be affected by this on compliant software, that is a lot of time and effort on our part (not to mention the additional software costs too).
As for those who mention the VAT threshold, well I suspect that once onboard with MTD for ITSA our beloved government will lower the VAT threshold considerably. A lower threshold of 45k was mentioned by "think tanks" a few years ago, no doubt testing the waters.
The 10k MTD exemption turnover threshold is very low in my opinion, that should be at least 15k.
Are you talking about the UK or the EU?
".. but he's been exposed as hopelessly out of touch and politically inept once the going got tough."
Don't they all?
That's ok then? Can we all dodge taxes on that basis?
"It has taken a conflict and a very long time for our leaders to recognise that the City of London has long been a natural harbour for very wealthy criminals."
I find it hard to believe that it took a very long time to realise this!
Anywhere in the world, anywhere, where there is obscene wealth there will be shady types. Turning a bind eye is (finally) becoming less acceptable now.
I do hope the Saudis start getting more media attention following the recent 81 executions in one day. Sport has a tendency to sell out to the money, given the recent anti-Russian revolt I hope that extends to the barbaric Saudis too.
I'm with you on this. Some of the best accountants I have worked with have had no qualifications. Some of the worst were fully qualified ACCAs (3 immediately spring to mind).
Letters after your name does not necessarily guarantee a quality of service provided.
Paul, you were pleasantly modest in the promotion of Dext, so allow me ...
We have been using it for over a year and are thankful that it exists! Clients like it, which is a bonus. Its integration with Xero is a real bonus too.
For those who are still receiving all client invoices and expenses via the post I would suggest that you seriously look into using Dext/Xero. The time savings are incredible. With MTD for income taxes lurking we would not would have no chance in maintaining a level of service without Dext.
Paul, please make the cheque payable to ...