Member Since: 6th Feb 2013
1st Jul 2020
Why doesn't HMRC check the data itself? I thought they were all one big happy family now. If HMRC has the tax returns (corporate or sole trader) for the business concerned, it is not exactly rocket science to estimate the output VAT expected on the net turnover figure declared annually. If that figure is nowhere near the total box 1 figures reported for the year, then there is a rabbit off somewhere (as my father used to say).
Does HMRC VAT not speak to HMRC Tax? It never ceases to amaze me.
I briefly had a client for whom the previous accountant advised that they thought their ex-client was a tad behind with their VAT returns in the professional clearance letter. Tad didn't quite cover it, 8 years or 32 returns was the eventual answer. The client had merely paid the occasional VAT determination issued by the VAT office and everyone was happy. Client particularly happy since they were in debt to the VAT office for £400K. Bizarrely the tax returns had been filed, so HMRC had access to their net turnover for the past 8 years. All supplies were UK and fully VATable, but no-one seemed remotely interested in multiplying the net turnover by the relevant VAT% to see if it came close to the VAT determinations issued.
19th May 2020
At least our beloved Institutes have got our backs and appreciate the extra stress/work we are under/have to complete.
Hang on a minute, I have just received an email advising me that my Annual Return has not been filed, and I need to crack on with it immediately, unless I am very busy at the moment! However if I wish to extend the deadline, I have to contact them and give them a reason why I haven't managed to complete it yet.
Can they not join up the dots? It is reassuring to know that in times of global pandemics and Government bail out schemes (which change on a weekly basis), that pointless form filling is still an essential part of being a member of the ICAEW.
21st Jan 2020
A bit of a harsh April Fool prank!
16th Jan 2020
Why doesn't the our beloved ICAEW get involved? They seem to have plenty of time on their hands other than going after sole ACA/FCA accountants and bringing them to book for heinous crimes such as failing to tick a box somewhere, or not complying fully with the latest GDPR regulations. Both these things have a massive impact on the UK economy and perception of the accountancy profession by the general public.
Heck another audit failure on such a small scale, wouldn't raise any concerns by the ICAEW. It's hardly as if KPMG or their audit partners are bringing the profession into disrepute!
9th Dec 2019
I thought he just cooked pizzas, I didn't realise he was a part time undertaker as well!
11th Oct 2019
Can I suggest you go and get a puppy. Going for a walk 2 or 3 times a day gives you a break from the madness.
Also dogs are just so pleased to see you, any anxiety just disappears when you see that wagging tail. Best therapy I know of.
2nd Aug 2019
I would have thought that would have made him ideally suited to be an audit partner at one of the larger firms!
6th Jun 2019
There is a very simple way to spot a spoof call from someone pretending to be from HMRC. If the caller is polite, helpful and tries to assist you with anything tax related, you know for certain it is a spoof call!!!
29th May 2019
Maybe Mr Potts was on LSD!
13th May 2019
HMRC do not take any notice of SLC or even tax returns.
Many of my clients have paid their student loans off over the last 6 years, this was duly reported to HMRC via their tax returns.
My record to date, completing a self assessment for 2018/19 and HMRC's software is still saying there is a Student Loan Plan 1 in place. However the loan was paid off 5 years ago and HMRC was notified of this fact, even including a reference and a copy of the final payment to SLC with a letter confirming no outstanding loan!!!