Member Since: 19th Jun 2009
28th Apr 2020
Clients appreciate the hand holding in these uncertain times, they also realise that if we don't charge for the work we are doing there is a significant risk that they won't have an accountant when this is all over as we will have gone bust.
We are not charging premium rates, which would be wrong, but we can't afford to work for free.
7th Feb 2020
The disciplinary report published at the time said it was because he had been put in prison - which was cause for automatic exclusion, rather than anything he had done. I presume it was because it was easier to prove without having a what would amount to a trial, although the implication was it was acceptable to attempt to overthrow a government by force as long as you didn't get locked up for it.
31st Jan 2020
HMRC have marketed the idea of MTD in two different ways depending who they were talking to:
1) Making life easier for tax payers and reducing errors - which not surprisingly hasn't turned out to be true
2) MTD would increase the tax take - do we have any indication if this has suceeded?
Either way I expect HMRC will anounce it has been a great sucess.
14th Aug 2019
We didn't have any particular problems filing returns. In some cases the "72 hours" to sign up to MTD was overnight, in others 5 days.
The biggest problem we had was a client (plumber not named John!) with sales just over the VAT threshold, his wife had kept very good manual records but refused to touch a computer, so after several lesons from us he keeps his own computerised records, unfortunatly the resultant mess took significantly longer to sort out than preparing a return from the manual records and we need to devote more time to show him what to do yet again. The perfect example of why MTD is a waste of time.
10th May 2019
Unusual to see common sense from HMRC.
I'm not sure I follow their reasonong in prefering individual invoices to totals off statements:
"In HMRC’s view, it is best practice to record digitally the individual supplies as this means less risk of invoices either being missed completely or being entered twice - once as an invoice, and once as part of the statement"
Isn't there less scope for omissions in entering twelve statement totals rather than an unspecified number of individual invoices each month - or are they hoping for underclaimed input tax?
26th Mar 2019
MTD for VAT is one thing but I guess that people (as predicted) think Brexit is a more important matter.
What idiot thought it was a good idea to introduce MTD for VAT at the same time as a national event as big as Brexit is taking place.
In order to keep the VAT monies flowing in, the Government need to make MTD for VAT voluntary as from 1st April 2019 otherwise the VAT monies flow will dry up as people struggle to submit Returns and make payments.
The fun will realy start when HMRC divert all their available programmers to sorting out the customs/border systems (NAO were predicting it was likely 6 out of 8 systems wouldn't be ready on time) so nobody can sort out the problems that will become apparant once MTD starts for real.
26th Mar 2019
Unless I'm missing something anyone with a VAT quarter of March 2019 who signs up now will have to file the January to March return using MTD when it doesn't become compulsory until their June return, so why would they want to sign up now?
They need to keep digital records from 1st April, but they don't need to register until later.
Given the comments from the House of Lords amongst others and the majority of business that up until now have decided they were better off without computerised accounting, it shouldn't be a surprise most businesses are not signing up before they have to.
2nd Dec 2018
Bridging software won't work with manual records!
24th Nov 2018
To me the biggest problems with the whole MTD project are HMRC's apparant lack of honesty and the way the whole project has been run.
Jim Harra, Moneybox on Radio 4 - we are doing this because it is good for businesses and taxpayers; Less than a week later he tells the parlimentary committee - we are doing this to collect more tax. They also tell us that MTD will remove 80 obligations and therefore make things easier - then they refuse to tell anyone what any of these obligations are.
A bit like brexit, it is all being done behind the scenes until the last minute, with MTD for VAT becoming compulsory in April, shouldn't we be past the pilot stage by now? and why are HMRC only now telling taxpayers that some of them are going to have to make major changes to their accounting systems part way through their accounting year?
Then there is the legislation - a statutory instrument, unfortunatly passed by parliament without scrutiny, that allows HMRC to change the rules on how records are kept by issuing a note - so no one can challenge them if they decide to alter the rules.
I've yet to see a computerised bookkeeping system where the quality of record keeping is better than the manual system it replaced, yes you can put on more entries quicker, with less staff and pull off reports faster, but that just means it takes less effort to make a mess.
Given the poor state of HMRC's own bookkeeping (try sorting out how they allocate payments to tax due for any tax) and wee are still getting duplicated records with RTI, are they realy the people to tell us a smart phone with an app will turn you into a brilliant bookkeeper?
In the mean time the software companies are cashing in.
2nd Oct 2018
1) Shouldn't it be called "forcing you to Make Bookkeeping Digital"?
2) Can we give valid advice to clients when, with less than six months to go, HMRC are still in the pilot stage?
Today HMRC are not MTD compliant as they are still developing the system, so how can anyone else currently be compliant?
That said, I do have one client who is compliant, their broadband is slow, even by local standards, to the point where they can only send emails without attachments and they are permitted to file paper VAT returns, so they will continue to file paper returns.
Given the state of broadband speeds here, the cloud is not a solution to MTD.