I totally agree my circumstances are similar. Hold PI insurance, registered with HMRC for money laundering. I deal with smaller clients probably ones who would be charged a fortune by a large firm. I provide a service. I do not do tax avoidance schemes and I do not audit large firms which then go bust after being audited by one of the big Five registered firms.
I totally agree my circumstances are similar. Hold PI insurance, registered with HMRC for money laundering. I deal with smaller clients probably ones who would be charged a fortune by a large firm. I provide a service. I do not do tax avoidance schemes and I do not audit large firms which then go bust after being audited by one of the big Five registered firms.
What happens to a pool of assets on which no capital allowances have been claimed in the change over to cash accounting. There are many clients i will keep on the old accrual basis as I only claim capital allowances sufficient to reduce to personal allowances presumably that will still be allowed!
You say all unincorporated business so does it apply also to partnerships, presumably.
Also 30/4 year end client can cease business either in March 23 or 30/4/23. How will this work out for tax returns?
The solicitors have a role to play in this. I happened to have a client who sold a property and just mentioned it to me two weeks after the sale. The solicitors said nothing had to be done and dismissed my query. So the main point must be solicitors to tell clients of their responsibilities and to contact their accountants as most of you know we are the last to hear!
Get the client to do a paper return all they have to say is that they are digitally challenged "Sorry I do not have internet and cannot work a mobile phone"
Why is it that solicitors do not tell the client they have to report. Currently have clients who have told me they sold last month solicitor said don't worry no cgt to pay but surely they need a report so have got the client to get one underway
Get the client to do a paper return all they have to say is that they are digitally challenged "Sorry I do not have internet and cannot work a mobile phone"
Why is it that solicitors do not tell the client they have to report. Currently have clients who have told me they sold last month solicitor said don't worry no cgt to pay but surely they need a report so have got the client to get one underway
So how will this work if all tax advisors must be qualified. This is the sort of work picked up by the homeworkers. I was an ATT and AAT member for many years and as my business ran down I left and kept working from home. I have prof. indemnity insurance regulated by hmrc for money laundering. I deal with only small traders. Most are older and keep records by hand. Why do hmrc think they will get better records with software. If clients do not record cash now do they think they will in the future, they go out and buy small items, loose the receipt! Please start a petition, I will join!
My answers
that HMRC has announced a new consultation on the regulation of tax advisers at Budget 2024.
Presumably they were already regulated by someone? So what will more regulation do?
I totally agree my circumstances are similar. Hold PI insurance, registered with HMRC for money laundering. I deal with smaller clients probably ones who would be charged a fortune by a large firm. I provide a service. I do not do tax avoidance schemes and I do not audit large firms which then go bust after being audited by one of the big Five registered firms.
I totally agree my circumstances are similar. Hold PI insurance, registered with HMRC for money laundering. I deal with smaller clients probably ones who would be charged a fortune by a large firm. I provide a service. I do not do tax avoidance schemes and I do not audit large firms which then go bust after being audited by one of the big Five registered firms.
What happens to a pool of assets on which no capital allowances have been claimed in the change over to cash accounting. There are many clients i will keep on the old accrual basis as I only claim capital allowances sufficient to reduce to personal allowances presumably that will still be allowed!
How does this take into account stock, is that out the window as well?
You say all unincorporated business so does it apply also to partnerships, presumably.
Also 30/4 year end client can cease business either in March 23 or 30/4/23. How will this work out for tax returns?
The solicitors have a role to play in this. I happened to have a client who sold a property and just mentioned it to me two weeks after the sale. The solicitors said nothing had to be done and dismissed my query. So the main point must be solicitors to tell clients of their responsibilities and to contact their accountants as most of you know we are the last to hear!
Get the client to do a paper return all they have to say is that they are digitally challenged "Sorry I do not have internet and cannot work a mobile phone"
Why is it that solicitors do not tell the client they have to report. Currently have clients who have told me they sold last month solicitor said don't worry no cgt to pay but surely they need a report so have got the client to get one underway
Get the client to do a paper return all they have to say is that they are digitally challenged "Sorry I do not have internet and cannot work a mobile phone"
Why is it that solicitors do not tell the client they have to report. Currently have clients who have told me they sold last month solicitor said don't worry no cgt to pay but surely they need a report so have got the client to get one underway
So how will this work if all tax advisors must be qualified. This is the sort of work picked up by the homeworkers. I was an ATT and AAT member for many years and as my business ran down I left and kept working from home. I have prof. indemnity insurance regulated by hmrc for money laundering. I deal with only small traders. Most are older and keep records by hand. Why do hmrc think they will get better records with software. If clients do not record cash now do they think they will in the future, they go out and buy small items, loose the receipt! Please start a petition, I will join!