Nothing in this profile is actualy true. Or is it? Who knows, who cares.
I had a good look at this earlier today.
Seems like more or less total capitulation for HMRC and a massive row back from their initial pronouncements.
1. Spreadsheets are fine, and by extension all legacy software such as VT transactions.
2. The magical "digital link" is not required for 12 months until 2020 and quite frankly unenforceable anyway. It seems much like the "on or before" filing restriction for RTI which is unenforced.
Quite what they have against "cut n paste" I really don't know. Anyone would think it exposures the emperor's lack of clothing rather acutely in that its "as before, different interface"
Really worth all the hassle and having to pay a 3rd party of file some VAT.
Read the notice, its not that long.
It doesn't cost £100 to pay an assistant to do these things, and avoid the client feeling they are "doing it themselves" so not convinced there is a demand for firms to pay this sort of a sum for clients with what £200-500 tax returns?
The client may as well pay £30 to tax calc and use their simple step?
30 days to file a CGT return is going to 'interesting' from two fronts:
1. Educating clients to come to us well before completion, ie at the offer accepted stage to ensure things like the purchase completion statement is available and any issues have been resolved in the computation.
2. Currently agents are excluded from completing the 'instant' CGT returns in the first place.
Unfortunately Tornado big business pays a lot of tax which is why all the serious economic forecasts who the UK is much worse off outside of the EU.
We had - up until 2 years ago - a really good reputation as the 'goto' place to do business in the EU. The country is chucking that away for empty phrases such as "take back control" which is meaningless.
Its a great phrase by the way. The phrase works, just like Brexit, as it makes no actual specific promises apart from the illusion that your personal perfect world will be one step closer if it happens. Of course YOUR perfect world would be much different from mine, and different from Boris, or Gove's, or Farage's. By promising non-specific items you please a lot of people. But the second you put into words (such as writing it on the side of the bus) something specific it can be easily shown to be untrue.
What is your top 5 rules to be changed what we cant change inside the EU?
I have been asking that question for 3 years and never had a decent answers as it deals with specifics.
Whilst some business may have been moving anyway, the fear of being stuck in London outside of the EU is a very real one, not least as from a regulatory point they are in breach of all sorts.
"AIG chief executive Peter Hancock said before the Brexit referendum last year that he’d consider an operations hub in continental Europe if UK voters opted to leave the EU........Luxembourg, a founding member of the EU, offers us a secure location in a stable economy with an experienced and well-respected regulator in continental Europe close to many of our major markets,”
"'This is a decisive move that ensures AIG is positioned for whatever form the UK’s exit from the EU ultimately takes,' says Anthony Baldwin, chief executive officer
From the horses mouth.
Whilst few may mourn the loss of some bankers and insurace co's, they pay a heck of a lot of tax.
Its not project fear, its business people doing what they said they would do.
I see the Gamons are out in force in this thread.
Meanwhile in the real economy which relies on high levels of frictionless trade with the EU there is a lot of doubt and uncertainty which is messing up inward investment. The economy is flat lining at a point at the cycle is should be doing well. As above the only reason the stock market is high is to do with the pound dropping.
Through my letter box this morning dropped a letter from AIG, one of many multinationals moving its head office out of the UK but not making much of a fuss about it. Luxembourg for them. I am sure its just fake and part of project fear, nothing to worry about as another few hundred jobs exit the UK.
I have no problem with digital.
What I have a problem with is shutting down the current digital (free) system which works, and allow for software:HMRC filing with no issues if you want it to
And replacing it with a very expensive one that users have to pay for, and does quite frankly much the same thing.
That is not progress, its profit taking by software companies.
Funny that, software seller desperate to see this happen so they can cash in and charge businesses for what they can currently do for free.
Organisation representing business, not so keen!
However I am not sure new legislation is required, but simply the existing legislation enforced, such as in this step here.
Its been there a very long time, and under any normal interpretations of the rules I was taught when training these are blatantly not self employed positions.
However lackluster compliance from HMRC has meant companies think the rules don't apply to them.
I had a n enquiry this week for someone working for a large business in the sales team. He is essentially the gang leader of a team of door knockers. The lot of them self employed, apparently, on the basis its commision only. But they all wear the company uniforms, work only for the company and have the whole system dictated to them in terms of how the unit is run. Its a completely bogus set up.