Member Since: 14th Apr 2002
21st Oct 2021
I had one of my Usual Suspects in this morning, to collect his record book (last made up to 5 April 2020 so that he can now make it up to 2021). Knowing that he has to pay tax on his SEISS he commented that he 'had better make sure his income was not too high for the year'.
I told him that he was the exact target Giles has been looking at, and digital would be closing the Tax Gap, in his case at least.
We got his phone out, signed him up for Mettle and downloaded FreeAgent at the same time - which will be free with Mettle. When he gives me his sort code and account number I will set up his FreeAgent then download the data from his present Bank.
I observed that once we had control of his data we would not need to trouble him with emails in October (like the one I just sent) to the effect that if he could not be bothered about his own affairs, I would be resigning.
From now on I will be able to reliably delegate the task of marshalling this chap's figures and be ready to file in April. So I get an easier life, so does the client, HMRC gets a proper Return and he has to learn to play the game.
Of course there will be problems, but it is swings and roundabouts. What I stand to gain I expect to more than compensate for what I stand to lose. It was the same when Self Assessment came in, when we had the same whinge-fest from the accountancy profession (and shame on those of you who did not change accounting dates back then, may your clients sue you for Overlap Relief)
21st Oct 2021
Actually the client has to set up a Government Gateway ID but you can now take over within the Agent Services Account and do the reporting. An example of an improvement that I doubt any on here will credit HMRC for !
20th Oct 2021
As before, Giles will know that this is a small echo chamber where the refuseniks convince each other that the world is about to end.
Meanwhile the rest of us will get on with it.
14th Oct 2021
I now have an account manager with TaxCalc for the first time, so they are listening to this!
5th Oct 2021
You don't need an hourly rate to justify a fee, if you have a scale for the job and the client has agreed to that.
30th Sep 2021
Surely a trader turning over £15000 with Amazon will record the money they get into the Bank as turnover? i.e. a Bank Feed
There are many complexities and the software developers have my full sympathy, but let's not overcook this
24th Sep 2021
How is this good news?
Another case of HMRC crying wolf and leaving to swing those who have, at their own expense, prepared for change. A past example was the announcement that they would toughen up on CIS in 1997, then no enforcement resources put in. A client of mine made his subbies into employees then watched his competitors undercut him and he went bust.
Let us hope that the software companies who have been spurred to improve their products will hold out and stay in the market. Those TV ads don't come for nothing you know.
I see that the [***]-fest had already started up again on this thread before I got to see it.......
15th Sep 2021
What a bunch of Sxxts
5th Sep 2021
At your age (I am older) please consider whether this is an opportunity for a 'last act'. I don't know how technological your practice is, but by adding a CRM (Accountancy Manager) and beefing up processes, I know that I have turned what was a 'seat of the pants' self-employment into a business that has some sale value.
When we get to 2023 I will have created three choices for myself - get some retirement cash by selling, expand fast to create more value, or take a back seat for a semi-passive income.
Even if I fell under a bus, I have the comfort of knowing that, with standardised systems, someone else can come in and efficiently serve my clients.
5th Sep 2021
I thought that there would be a sales opportunity to those who freshly need an accountant, now I see that we will be picking up from all the retirees as well!
Aged Sixty Four and Three Quarters