Hotels- if the stay lasts a few days and is invoiced after today but within 14 days of the stay ending, can they apply the reduced rate to the whole bill.
No wonder that Invoice Financing is on the rise when LTSB and BoS are effectively forcing businesses to use this form of finance. It is a trend made in Head Office.
We are getting another tier of "simplification" that we have to monitor so that we prepare the right accounts for that client for that year. If we prepare the wrong accounts, are we going to have unhappy clients because we prepared the "expensive version". Are we expected to charge less for simplified accounts. This is not simplification but a further burden on us and our clients that can only lead to further confusion.
There are quite a few accountants who would qualify for the cash basis. Is anyoine going to try to tell me that this cannot be manipulated, especially by accountants.
Could be an opportunity for a new Cash Planning Consultancy.
I cannot see HMRC being very happy with this. Small businesses rushing to incorporate to get the benefit of a lower Corporation Tax Rate AND adjusting their cash to suit the amount of tax they want to pay.
We filed a tax return and the acknowldgement says 00.01.49 on 3 Feb. We have just received a penalty notice. That means they are being charged approx £1 per minute past the deadline.
I would have expected a little more flexibility, especially for those of us who work off the beaten track, but for those of you who think that HMRC should be paid in blood, would this rate suffivce.
We have come across a case in the last few weeks where local inspectors are wanting to investigate the deliberate submission of false accounts by the former accountants (without the clients knowledge) but Debt Management say it is nothing to do with them and are moving to close the business down because of some vat arrears.
Hard to believe they are all on the same payroll.
By the way, this is a good business that like so many others just now is going through a sticky patch.
My answers
Hotels- if the stay lasts a few days and is invoiced after today but within 14 days of the stay ending, can they apply the reduced rate to the whole bill.
Job Retention Scheme:
What happens about Employers NIC? Will this still need to be borne by the employer?
I read on HMRC that it is up to the employer whether they pay the other 20% but they do not have to pay it
Can you claim the 80% job retention against a directors salary if the company has suspended trading?
Choice
If there was more choice in the banking market, these guys would be out of business.
No choice
No wonder that Invoice Financing is on the rise when LTSB and BoS are effectively forcing businesses to use this form of finance. It is a trend made in Head Office.
Am I missing something here
We are getting another tier of "simplification" that we have to monitor so that we prepare the right accounts for that client for that year. If we prepare the wrong accounts, are we going to have unhappy clients because we prepared the "expensive version". Are we expected to charge less for simplified accounts. This is not simplification but a further burden on us and our clients that can only lead to further confusion.
There are quite a few accountants who would qualify for the cash basis. Is anyoine going to try to tell me that this cannot be manipulated, especially by accountants.
Could be an opportunity for a new Cash Planning Consultancy.
I cannot see HMRC being very happy with this. Small businesses rushing to incorporate to get the benefit of a lower Corporation Tax Rate AND adjusting their cash to suit the amount of tax they want to pay.
Bah humbug!
£1 per minute late
We filed a tax return and the acknowldgement says 00.01.49 on 3 Feb. We have just received a penalty notice. That means they are being charged approx £1 per minute past the deadline.
I would have expected a little more flexibility, especially for those of us who work off the beaten track, but for those of you who think that HMRC should be paid in blood, would this rate suffivce.
Re: Hmmm
Actuall HMRC are looking into the tax laibility that was hidden by this action.
The relevant Professional body has also been informed but has declined to take any action even though the tax alone is over £100k.
It's worse than that
We have come across a case in the last few weeks where local inspectors are wanting to investigate the deliberate submission of false accounts by the former accountants (without the clients knowledge) but Debt Management say it is nothing to do with them and are moving to close the business down because of some vat arrears.
Hard to believe they are all on the same payroll.
By the way, this is a good business that like so many others just now is going through a sticky patch.