Member Since: 2nd Sep 2014
19th Dec 2015
I have just signed the petition titled "Scrap plans forcing Self Employed and Small Business to do 4 Tax Returns Yearly" at https://petition.parliament.uk/petitions/115895
I urge everyone who hasn't already signed to do so and to tell all clients to do the same. There are only around 71,000.00 signatures so far, suggesting that not many Accountants are aware of it as yet (I wasn't until I read the above post).
As far as I am aware, it is the only petition open on the subject at the moment but I do wonder if the wording of the petition could be better as we don't exactly know exactly what sort of quarterly compliance we will have to adhere to as yet.
15th Dec 2015
The very best of luck
Thank you for taking the time to represent small businesses, and indeed sole practitioners like myself.
Might I suggest a petition against quarterly reporting to help voice the concerns of what seems to be the majority of the accountancy profession to substantiate the points that you will be trying to get across. Surely Accountants the length and breadth of the country would support it, not to mention all their clients.
(Reply to post by Rebecca Benneyworth)
2nd Apr 2015
In the real world....
How on earth are we supposed to provide clients who keep manual records with a real time view of anything.
Are we supposed to meet every client every month, take their books and update their digital accounts? If I have 200 clients then that is 2400 meetings a year! When do we find the time to do the work?
Something definitely needs to be put in place to allow businesses to file annually. Monthly submissions are just not feasible and as far as I can see will not work in the real world.
Clients appoint an Accountant bucause they don't want to file once a year themselves as it is. They certainly won't welcome twelve times the hassle. Making Tax easier is one thing but creating a huge amount of bookkeeping will not be welcomed by anyone.
Let's hope the powers that be have the sense to listen to the advice of Accountants on this and not be swayed by just how clever the software designers say they are.
22nd Mar 2015
Let me clarify.
I do feel that some of your comments above belittle the role of the bookkeeper, comments such as "We'll end up as bookkeepers on minimum wage" are degrading experienced qualified bookkeepers like myself who actually work hard to provide a support service to accountants and who may find their work also diminishes as a result of this HMRC and government backed idea. As accountants I can appreciate that this proposed legislation could have a detrimental effect on your businesses but please don't refer to bookkeeping as some low grade work.
It was in fact me who wrote "We'll end up as bookkeepers on minimum wage". Firstly I would like to apologize for any offence caused. It was not my intention to belittle anyone and I certainly wasn't suggesting that bookkeepers do work for minimum wage. Maybe I could have been a little more sensitive but it reflects the great concern that I have for my fledgling practice that I have worked so hard for.
The point that I was trying to make was that if the worst comes to the worst we be working as bookkeepers (if at all). Also, as the amount of bookkeeping throughout the year that would potentially be required would be high, and clients I'm sure, would not agree to higher fees, then we would effectively be working for minimum wage pro rata.
I do hope that I am worrying unduly and that the Self Assessment Tax Return is abolished in what would amount to name only. The thing is though, I am worried and judging by the above, so are a hell of a lot of people. Was there need to spread this panic without further explanation? In my opinion, no. Like I said in my original post, I know who I WON'T be voting for.
20th Mar 2015
Worrying? Yes. Feasible......Mmmmm
I agree that the worst case scenario which would effectively be to place the onus on business owners to feed data directly to HMRC via Accounting software/Bank accounts is very worrying but surely can in no way be possible.
Most of the reasons for this have already been highlighted in the above posts but as a Sole Practitioner who deals mainly with Sole Traders, I know for a fact that most of my clients just want to pay one Annual fee for me to take away all things Tax and Accountancy related.
Direct feeds from a bank can not differentiate between materials purchased at B & Q or items purchased for a kitchen upgrade at home or even some expensive equipment to be capitalized. The list of reasons against goes on.
The limited information that I have found regarding this on HMRC's website is entitled "Making Tax Easier" but if they go too far with this they will need to add "but making your annual bookkeeping a mammoth task". Which, by the way is another thing, if bookkeeping information is to be uploaded throughout the year, smaller clients will not want to do this. All well and good you might say, more work for Accountants. Yes, more work, but can we charge the fee's to reflect this. No way. It just won't stack up. We'll end up as bookkeepers on minimum wage.
NOTE TO MR OSBORNE (in the hope that they are monitoring sites like this to gauge opinion).
HERE'S SOMETHING WORTH CONSIDERING GEORGE. I know that you haven't given much thought to any of this up until now but just think on. You have issued a bold statement suggesting radical changes with no real explanation of what will replace the SA Tax Return. Causing great concern throughout the Accounting profession. Most Accountants the length and breadth of the country appear not to want these changes. That equates to a lot of voters. You could be in danger of alienating an entire industry. You might even have the dubious honor of putting more people out of work than Thatcher did! I for one know who I WON'T be voting for.
Best case scenario = some pre populated information online. Great, get on with it. Why didn't you just say so.
Worst case scenario = The death of an industry. A little melodramatic? Time will tell.
Anyway, best get on. These Tax Returns won't file themselves....or will they?
18th Mar 2015
I hope so.
According to the limited information I have been able to find online, small business owners are able to submit info at anytime of the year and pay the Tax due accordingly. Sounds like chaos. Also, apparently businesses are able to upload directly from their accounting software by 2020. The majority of my clients keep manual accounts. They really have thought this through haven't they.
18th Mar 2015
SA Tax Return.
What does the abolishment of the SA Tax Return mean for Accountants? What exactly is it being replaced with?