Member Since: 14th Jun 2010
Nothing in this profile is actualy true. Or is it? Who knows, who cares.
15th Jul 2021
its more the landlord with one rental who currently pays us £399+VAT for husband/wife tax returns from agents statements + mortgage statement + p60's and we deal with it in 2-3 hours (less if no problems), and now we have to do 10 filings a year with five contact points vs one. I know from VAT you need to charge at least £75 per contact point, so that's minimum £300+VAT for the pointless 10 returns on top of the existing one. What worse of course is this is only 4 months a year. If you employ someone do to this, they will be idle for 8 months a year, unless you conjure up work for the idle 8 months, or increase your contact points to 13 a year (heaven forbid) and process monthly. Its commercially very awkward even if you want to offer this service as it would be a very high volume of client interaction and chasing around. Computers wont solve it!
15th Jul 2021
hang on, not 300 odd, 100+ of those are directors. 200 ish.
15th Jul 2021
I am keeping well out of it for as long as we can.
Clients with software are largely limited companies, I only have 2 or 3 'other' businesses who use it.
The rest are all excel (at best) type clients for whom I will be doing what those who still file using the old school VAT returns are doing, keeping their heads down. Staying under the radar. There is virtually no chance us getting those all properly digital, so little point in trying.
If my "poo fling" strategy fails I might well just drop SA clients and stick with companies as there is no point sacrificing my sanity on HMRC's alter of incompetence.
Anyone want a block of 300 odd SA returns bringing in £80k PA? 3 day week on the company side and watching everyone else sweat blood seems more attractive than the £60k or so profit i make on those for about 2 days/week.
14th Jul 2021
Its crushingly stupid to introduce this new system and it not be integrated.
it would nice to be surprised that this has happened I am not given the dearth of any talent at HMRC's end.
But then again its crushingly stupid to STILL be doing NIC workarounds for Class 2 and HMRC's systems routinely remove correct reported NIC. There must be 100,000's of incorrectly adjusted returns per annum and unrepresented tax payers who in 10-20 years time find a gap in their NIC records are going to raise merry hell on the basis HMRC had been notified (via the tax return) of their self employed status. Given this now seems to not be going away, to not fix it is quite frankly stupid on so many levels. Loss of tax revenue. Huge waste of time for HMRC. Both of which are immediate HMRC issues. Then the wider society issues of future pension gaps and a huge waste of time for agents, albeit I know our time is completely irrelevant. All for the sake of what must be a minor programming issue, to push data from the SA return to the NIC system, not the other way around.
9th Jul 2021
Sorry to hear about this Lucy.
I had a mini-stroke which eventually no-one could work out where it came from or why and I am fine now, but it was probably stress related. I have tried to reduce my hours and also reduce my "goto medication" of beer or two in the evening.
I am medium fit in my mid 40's, turns out lots of other people have had them too once I got talking to folks about it.
Take care of yourself. There is something very chastening of sitting in the cardiac ward being the youngest person by 20+ years sat in there, but a battery of tests later including a rather cool go in the full body scanner they couldn't work it out and I seem to be OK.
9th Jul 2021
Well I had a mini-stroke about 2 and a half years ago (I was 45) Happens all the time.
Nothing to do with Covid or jabs.
its surely more that all remotely sensible 40-50's people have been jabbed, so any strokes or clots will happen to jabbed people by definition as its 95%+ of the population.
6th Jul 2021
As ever Ian nails it.
I spent a huge amount of my time managing my clients expectations, and as a result (in the main) everyone is well trained and sends things when I ask them to and is pleasant to work with.
Sometimes people throw a wobbly and demand time, and yup its part of the service to help them, but in the main people who rub me up the wrong way get shown where the door is. Its my practice, my rules.
The best clients are usually the ones you don't notice too much. Those are the ones I try to spend time with, the ones who demand this and that and ignore your deadlines are not clients I like to work with.
1st Jul 2021
hmm, but I imagine it will be bobbins to use like their basic PAYE tools *shudders* and not deal with hardly anything you need it to.
The really odd thing about all of this is how they are going to reinvent the all the complexity of the SA returns into this 'period 5' API. Good luck with that.
1st Jul 2021
@Kevin, I am seriously considering just not complying at all with this and seeing what happens, with the appropriate letters and sign offs from my clients of course to cover my backside.
My only interest is that my clients pay the right amount of tax in the most efficient manner.
I have no time for HMRC vanity projects.
1st Jul 2021
I have been "drip drip" on this on our usual circulars which go out with the budgets, flagging up the absurdity of it all and its utter pointlessness and additional burden to our clients in reporting junk numbers 4 times a year. I certainly wont be singing from the propaganda sheet that some seem to have swallowed whole.
I wont be rushing to do anything formal until the is a business case for doing so in terms of fines exceeding cost of compliance. I will certainly not be forcing clients to use unsuitable cloud software in advance as concession will no doubt arise as they have for VAT. Not a single client has change their accounting systems due to MTDfVAT, and I dont plan doing anything much with this either, it will all be work arounds. If there is no business case for software, there is no business case.
As a business what I am doing is pulling my horns in and not taking on new work and ensuring I have significant extra capacity to deal with it when it all hits so I am not working 6 days a week again like last year.