Member Since: 25th Feb 2013
14th Mar 2018
What would be best all round is simplification of the tax system! HMRC would no longer need the time they have stated and taxpayers aren't at risk. Pretty simple!
14th Mar 2018
The current's government use of consultations is generally to either:-
1. delay a decision being made or indeed,
2. look like they are listening (when they are not).
We only need to look at the tenant's fees, building regulations, MTD or any of the consultations in process or completed, and we can see the barely any real change or advice being taken by the government.
20th Sep 2017
So basically, type in 9 numbers into a new system = compliant.
And no interaction with SA or company records.
It looks increasingly like a straight replacement for the current (quite decent) VAT system with no genuine benefits apart from people selling software with "MTD" written with a Sharpie on the side.
Amusingly, the big 4 firms who consult to the government informed them of the perks of the Australian tax system - what the MTD system is being modelled on. If implemented to that degree, the government will have precedence access to all financial information of all businesses in the country in a time where the government has increased its snooping power and decreased data security. If we then consider HMRC have asked a select few software firms (mainly with connections to the Big4) to work with them in the development stages, we can see the blatant abuse of power by those dominating our industry (and those related). Oh, and lets not forget those cronies in government who's real aim is definitely not to improve the calculation and collection of taxes but having access to all that information.
7th Sep 2017
"Lee went on to explain how his team have built up close relationships with a number of developers" - So certain software developers have been given a competitve edge over others? How likely those being invited are those who are now partnering up with the Big4? It very much feels no one is paying attention to the monopolies occuring in our industry (and those related). Only yesterday it was leaked Theresa May is asking for support by the FTSE100 for Brexit and with that comes the simple question of "in exchange for what exactly?". Why are we seeing certain favourable conditions for a few not all? Whilst we allow this to continue, we are ensuring our voices become lost to big business and the corrupt world it brings. The fact HMRC is openly assisting the barriers to entry and unfair competition by partnering up with certain companies shows the lack of fair business and support for the small and medium firms (who are the very backbone of this country) by government. We should be fighting this, not pushing it.
10th Apr 2017
Further to my Linkedin article (https://www.linkedin.com/pulse/making-tax-digital-charlotte-ready) my main concerns are the fact anomalies exist in all of the software packages currently on the market and how do HMRC propose they will to address these with the API reporting (i.e. what will be submitted)? That, and what about the issue of storage of data by these software companies? Majority have servers in the US meaning it is suspictible to their laws without protection from our own. A massive issue and one not touched on to date.
24th Nov 2015
Biggest lesson learnt - not to take advice from the ICAEW
Firstly ICAEW invited an unqualified firm to speak about growing a business and doing business well. This firm - Wow Company has a large banner on their home page which reads "Make more profit, pay less tax and have more fun". This is not only misleading and dangerous marketing, something we should not condone considering the fact we have a responsibility to the public as a whole, it also gives an unfair advantage to the unqualified market. Is this really the stance the association should take? How does this protect the members and the value of our qualification?
Another interesting fact I took away was the lack of commercial knowledge and reality by the ICAEW itself. One of them stood and told a room full of individuals that older firms look at passing over non favourable clients to newer firms setting up. Tell me, in a market which is further saturated and most accountants are losing clients and need more work, that this would occur? Also add in the fact that brokers sell block of fees where the buyer pays 5% so there is no cost of selling to the seller? There were quite a few pointers as ridiculous as this and it concerns me this is the level of advice offered to members in practice, or considering it.
The greatest tip I took was the association is no longer to be relied upon and it protects the interests of a select few. Mainly the big boys. The fact the event was sponsored by a few large providers of accountants and there was no due diligence over the speakers, it made me think it was a money maker venture and a poor one at that.
28th Oct 2015
They have already started to rate agents...
HMRC have been doing this in the last few years so when they implement their new agent system and agents will be ranked. Depending on the level of trust will depend on your access to their services. Currently the idea is for a three tier system where the first tier is most trusted (talking about 100 agents) and have full access to their services then the second where majority of qualified accountants and a few unqualified (those proven by their track record) will fall into. The last tier will be unqualified and those who have a mark against their name. They will have very limited access and therefore will only be able to provide limited services to clients. I suspect the implementation date has changed but it was due around 2016 or so.
20th Oct 2015
CIMA is not a practice qualification and too many high ratings
Firstly CIMA is a qualification for management reporting and half of those listed are offering financial reporting services. As such they are not qualified for the services you are listing them for and it is devaluing our worth in the industry as chartered practice accountants. Secondly, how can you state you rate accountants yet all have a score of 4/5 and above?
29th May 2014
What about the Agent Strategy scheme?!
The Agent Strategy is supposed to be implemented next year which will ensure all advisors are dealing with HMRC electronically as standard and will also enable HMRC to track agents and give them varying levels of access depending on the level of "trust". How does the above fit in with this? I was told at a working together meeting with HMRC that the agent strategy scheme will remove the need of 64-8's so the point of Checkley is pointless. It again seems one department in HMRC have no idea what the others are up to nor what the rest of government is planning on doing!
30th Apr 2014
Telegraph reported it at £2 billion?!