Member Since: 3rd Nov 2006
Worked for Inland Revenue for 11 years in the 70s and 80s before I saw the light!
Progressed from working for medium sized firms of accountants to starting my own practice in 1996 and havent looked back since, with hubby joining me in partnership 7 years later.
10th May 2021
"HMRC will consider belated requests but you must focus on the known trading circumstances on the day the limit was exceeded, and not what has evolved between that day and when you write your letter."
That's not been my experience. They based their decision on the pattern of trading since the limit was exceeded. In fact, they wrote to me twice for further turnover updates because it took them nine months to reach a decision, and that was before the onset of COVID.
I have successfully made three late applications for clients in recent years, without too much difficulty. Mind you one had ceased trading, which helped! With another we sent a list of monthly turnover which clearly showed a large "blip" and were able to satisfy them that the client (a curtain maker) did not normally trade at that level at had no intention of doing so going forward.
5th May 2021
We had two clients go out and buy (different) software from two of the major suppliers, without consulting me first, and I ended up spending hours trying to sort out the complete mess they made of their records, without being able to fully recover the time in fees. Sage and Quickbooks, in particular, make a big deal in their adverts of how easy it is to use their products but without a basic understanding of how the products work it is far too easy to get it wrong.
Automatic bank feeds don't necessarily help either, as one client entered all his purchases from receipts and again from the bank feed, so that there were numerous duplications and of course as he had no idea how to reconcile the bank account these were not picked up. He also picked up sales receipts from the bank feed, having previously entered them from invoices or even quotes, and as the amounts didn't always match up we thought he had gone over the VAT threshold when he hadn't.
There are some good, basic products out there (we use VT) but it can be difficult to find them.
24th Mar 2021
The email sent to agents about this suggested that non-covid appeals for individuals could be done online and helpfully provided a link. However, when I entered our agent details to lodge an appeal the site refused to let me proceed, as it is "only for individuals and businesses". What was the point of them sending us this information if we cannot use it!
15th Mar 2021
Thanks for the heads up. I think this is outrageous and likely to result in most of these new businesses being excluded. It is far too complicated. I tried using dropbox myself and gave up on it.
22nd Feb 2021
and don't forget we will have the previous year's accounts and tax returns to deal with at the same time!
22nd Feb 2021
I've have been trying to do this for over a year but until it actually kicks in, I don't think anyone wants to think about it.
17th Feb 2021
I remember vividly struggling with this when I was early in my career and first tried using Sage to record bank transactions for a client. I entered a whole month's transactions the wrong way round and had to journal out and re-enter every single one. I have never used Sage since!
Even some of the more user friendly packages do not make it easy sometimes to work out which is the debit and which the credit, especially with journals and I often find myself having to go back and reverse entries.
Oh, and I used to work in a bank in the seventies!
8th Feb 2021
I know of several pensioners, including myself, who continued working after retirement age because their pensions were inadequate. Unfortunately, their pensions are just over 50% of their total income so they have not been able to claim a penny.
29th Jan 2021
I could do without HMRC sending out "amended" tax calculations in January where nothing has actually changed! I have to waste time contacting the client to reassure them that the calculations don't show the tax already paid and no, they are not asking for more money!
Mind you the latest one is a bit baffling - it says the Self Assessment has been corrected for [their] residency status in line with information they hold. As the client is British, has been UK resident for as long as I have known him and does not live in Scotland but in Wales, what possible information could they have?? The tax due hasn't changed thank goodness.
20th Jan 2021
"Also don’t be shy about asking on our very own Any Answers, as someone else may well have come across the same issue."
I would like to support this recommendation but unfortunately it does depend on the willingness of other subscribers to reply. I have twice in the past posted questions when all other routes to find answers had failed but had no replies.