As I understand the situation your software will be correct until 6 April, when it will have to revert to the HMRC approved software results. Try it again next week?
As I understand the situation your software will be correct until 6 April, when it will have to revert to the HMRC approved software results. Try it again next week?
The whole HMRC response is very disappointing. Unlike a lot of commentators here I am not nearing retirement age so sadly do not have that option.
One of my best clients keeps perfect a paper cashbook and is digital shy. I was hoping to have a whole year to train him up on digital bookkeeping but not one system is yet available.
Most of the others are below VAT registration and use excel but I am left not knowing what to tell them. How many will need to comply with this in 2018? Will I have to be rushing in with software training or not? Everyone (except it seems HMRC) knows it is best to run parallel systems initially to test any new software but we will be left with no time to do so.
Those businesses with accountants to represent them are the lucky ones. At least they will have someone to help guide them through the mess. Most of those without have never even heard of it! Maybe the plan is to bring people in throughout 2018 with the "soft landing". So the first they will know will be a non compliance notice?
Surely it will mean that the very small businesses will just make it up as they go along. It is hard enough to get them to realise they need to produce proper accounts at the year end as it is. Some see the accountants fee at the year end as a bit of a burden but accept it as all those numbers are just too daunting. They will never be persuaded to pay for quarterly accounting and so will bodge something up for the quarter . Then having done that all year will see no need for a year end reconciliation. The result being a lot of incorrect cash basis accounts with gaping holes. Maybe HMRC are counting on this so they can raise more cash with fines? With a whole load more accountant fees needed to sort out the mess. Or just bankrupt businesses.
I agree with dlac. Thankfully I was looking for an update from the Charity Commission website so had the detailed name of the document from a prior year to search for. Otherwise it would have been useless. Does anyone know if there is away to use gov.uk search and restrict it to the area you are interested in e.g. ex hmrc content?
My answers
As I understand the situation your software will be correct until 6 April, when it will have to revert to the HMRC approved software results. Try it again next week?
As I understand the situation your software will be correct until 6 April, when it will have to revert to the HMRC approved software results. Try it again next week?
The whole HMRC response is very disappointing. Unlike a lot of commentators here I am not nearing retirement age so sadly do not have that option.
One of my best clients keeps perfect a paper cashbook and is digital shy. I was hoping to have a whole year to train him up on digital bookkeeping but not one system is yet available.
Most of the others are below VAT registration and use excel but I am left not knowing what to tell them. How many will need to comply with this in 2018? Will I have to be rushing in with software training or not? Everyone (except it seems HMRC) knows it is best to run parallel systems initially to test any new software but we will be left with no time to do so.
Those businesses with accountants to represent them are the lucky ones. At least they will have someone to help guide them through the mess. Most of those without have never even heard of it! Maybe the plan is to bring people in throughout 2018 with the "soft landing". So the first they will know will be a non compliance notice?
It will result in bodged accounting
Surely it will mean that the very small businesses will just make it up as they go along. It is hard enough to get them to realise they need to produce proper accounts at the year end as it is. Some see the accountants fee at the year end as a bit of a burden but accept it as all those numbers are just too daunting. They will never be persuaded to pay for quarterly accounting and so will bodge something up for the quarter . Then having done that all year will see no need for a year end reconciliation. The result being a lot of incorrect cash basis accounts with gaping holes. Maybe HMRC are counting on this so they can raise more cash with fines? With a whole load more accountant fees needed to sort out the mess. Or just bankrupt businesses.
Searching is difficult
I agree with dlac. Thankfully I was looking for an update from the Charity Commission website so had the detailed name of the document from a prior year to search for. Otherwise it would have been useless. Does anyone know if there is away to use gov.uk search and restrict it to the area you are interested in e.g. ex hmrc content?