Nothing in this profile is actualy true. Or is it? Who knows, who cares.
Someone who is a not an accountant but runs a form filling operation tries to tell actual accountants how to run things for 'special' people who cant put their fugging phones down for 2 minutes.
A quick peek at the Mazuma company accounts show a pitifully small CT bill for a business with 24 employees. Its only £26k!!!!
Acid test ratio is pretty shaky too, your cash barely pays your current creditors.
You are quite welcome to these highly valuable customers of yours.
I will stick with the grown ups of any age. My youngest grown up on my books is currently 16.
We have noticed a distinct change in the questions asked on errors in the past 3 months.
It is now virtually impossible to agree an "innocent" error. Just making a mistake is seemingly not allowed, and the logic would appear to be, if its wrong, you were clearly careless in not checking it properly.
We have had things such as missed child benefit, student loans box not ticked, missing P11D's treated not as a simple correction, but with a tax geared penalty, albeit we have had all such errors suspended.
I used to, but soon found they just come to haunt you in Jan every year. Its OK if you are desperate, not if you want good quality clients.
Having sacked most of my late ones I am down to 8 returns left now out of about 300 for the year, which is about 2 days work max. We had a very busy October through to December, but Jan is a lot more relaxed. Its more about planning and company work than mucking about with people who have been sat on their hands for 9 and a half months.
I was going to finish by 6.30pm.
Already broke that one then...
So basically,example 1 is 100% exactly what we do now apart from intspersing software package 3 which is currently HMRC's portal.
"digitally link" would seem to be meaningless and unenforceable.
All they are doing is changing the submission end, an making us pay for it, rather than the free bit we get now..
I fail to see why paying peanuts into a rubbish pension scheme with high charges really helps the employee.
If you have low wages member of staff cutting into minimum wage doesn't sound very bright to me, and compulsion forcefully widens again the gap between employment vs self employment and puts pressure on people to come out of employment structures.
If its NIC's+pension thats a very big gap indeed.
Seems like they are very softly rolling MTD over the hill and into the very long grass.
Its how big projects get cancelled. Very very very slowly.
Its a shame he believes the tax gap lie with no evidence to support the theory that increased reporting burden = increased tax take.
So you ask the questions the tax return asks in slightly different language?
Sounds almost exactly like tax calc's "simple step" which has been going for years and is really good for clients with simple affairs who are too small for an accountant.
Its all possible if you want to run a returns factory
most clients however dont want to sit clicking about with portals, wizards and all the rest of it, or they would already be just doing it direct with HMRC. Have you looked at HMRC's returns software lately? Its really improved from 10 years ago.
The skill of the accountant is still to take a pile of disorganised stuff, and by understanding the client, find all the holes and create an accurate tax return.
Tech is just a tool to help that happen.
The Chancellor has already killed off the flat rate scheme for small service businesses with unworkable rules in his first budget
One hopes his next foray into VAT will be more measured and balanced.