Member Since: 28th Feb 2012
22nd Nov 2019
The burden on the small Ltd company will be just too high to bear.
We will end up having a mass of small companies being liquidated and they will trade as sole traders and partnerships.
In summary they want to nationalise everything and screw the self employed. So does the labour party want to obliterate the self employed and have everyone work for the state?
13th Nov 2019
We also has an issue with the timing of a claim. Client had finished the building well before the 3 months time limit had passed.
In the end they allowed the claim but for a while I thought they were out of luck.
13th Nov 2019
This is interesting as I have seen quite a few accounts filed at companies house which disclose the movements on dla even when the dla is not overdrawn.
I have never disclosed that amount of detail.
5th Jul 2019
I agree that IHT needs to be reformed. Too easy to find ways around it.
I think that keeping the IHT limit would be fairer and then tax the difference at maybe 25% rather than 40%.
15th May 2019
This is a good article but from a practical point of view, it seems to me that:
The company stops trading, three month later they send in the ds01. They don't bother sending final accounts or corp tax return so HMRC have no idea that tax is o/s.
A few months later the company is struck off.
Not once in 20 years have I seen HMRC look to restore a company to recover o/s corp tax etc.
Admittedly all the examples that I have seen have debts in the 000's so probably quite small in the scheme of things.
27th Mar 2019
Vallery Lee wrote:
Whilst I have got my new agent credentials (yet another lot) I have not yet signed any clients up. As quite a few of your correspondents have said (and I agree) this can all wait until July/August. I suspect the reality will be as confusing as RTI was
I'm in exactly the same situation.
I can't understand how the new agent portal looks exactly the same as the old one though. Which clever person thought that would be a good idea? Nothing to show that it is correct and that you have registered. Pathetic.
No way am I transferring clients across until I have to as I think there's a chance they will go missing.
27th Mar 2019
mr. mischief wrote:
In my view, there is still a non-zero chance that MTD is either scrapped or delayed for a year, even at this late stage. Like Brexit, nothing is off the table entirely.
Conclusion - continue using the methodology I have been using for the last 2 years on MTD, namely Just In Time project management.
I really can't see how they can delay it at this late stage but it is going to be a shambles. It would have made more sense to bring it in as voluntary but then nobody would sign up.
Thousands of VAT returns will be filed late and thousands of appeal letters will be sent in. HMRC can;t even answer the phone at the moment so it's going to be a nightmare.
6th Mar 2019
'Munn was disqualified as a director for seven years'
You could disqualify him for 10,000 years, you are not going to stop him..... doing whatever he likes.
Do you mean that he could just trade as a sole trader/partnership in future?
I'm pretty sure that I know who this chap is. He was running a very successful number of firms. Must have made an absolute fortune and if it is the chap I'm thinking of, at 60, can probably retire and keep all that money.
27th Feb 2019
You must be wrong here. HMRC are adamant that mandatory MTD for VAT will be going ahead on the 1st April 2019, so they must have enough staff to deal with all of this.
(Of course they do not, and this pretence that MTD for VAT is on course will be blown apart in a very short time from now. Perhaps it will be voluntary, but no way will it be mandatory).
Do you really think that MTD will be delayed or made voluntary with only a few weeks to go?
I wish you were right but I honestly can't see that happening.
19th Feb 2019
mr. mischief wrote:
Those who voted Brexit were not numpties but were fooled into it by the very worst sort of politicians, many of whom have since hedged their bets by taking out foreign passports and moving their businesses and investments overseas.
Project Brexit is now so obviously Project Car Crash - literally in the case of Honda, Nissan and probably also Toyota before long - that pursuing a No Deal Brexit is quite simply the stupidest thing this country has done in my lifetime, barring being George W bush's poodle in Iraq in 2003.
When your strategy is in tatters, only a numpty in my book carries on with that strategy. In my own business, when things don't work I don't carry on doing them in the same old blundering unsuccessful way, I change strategy to success.
Surely that is not too much to expect from the folks running the country?
I agree that lies were told but that's true of both sides. To say that they were fooled is a bit naive in my opinion.
The car manufacturers are not leaving the UK solely because if Brexit. Japan has brokered a deal with the EU to remove tariffs so I think they would have been moving operations back to Japan with or without brexit. Many of the car manufacturers have been caught out by a change in trends accross europe- diesel scams etc. Again, I think their moves would have happened anyway.
Until the dust settles, we won't know how this will affect us long term but I hope the country has made the right choice.