Member Since: 19th May 2011
Jennifer Adams is Consulting Editor of AccountingWEB and is a professional business author specialising in corporate governance and taxation. She runs her own accounting and consultancy business with offices based in Surrey and Dorset.
4th Jul 2020
You might want to tread carefully, although as Tim says the chances are it will be fine not least because of the distance between the two practices
However... a story...
A few years ago someone I knew ran a very successful accounting practice under the name of 'Easy Accounting'. Then one day out of the blue the owner received a letter from the solicitor of the airline 'Easy Jet'. It said that he was to stop using the name 'Easy Accounting' as people might think that the accounting firm was something to do with EasyJet. As he couldnt afford the legal fees needed to fight such a large company the owner of the accounting practice changed the name of his firm.
I always advise clients not to set up businesses with too similar names particularly companies that have been dissolved/struck off etc in case a creditor thinks its the same company in a different guise.
21st May 2020
If your money still hasnt come through try HSBC - they are the only 'high street' bank who are lending to non current account customers.
My clients have applied and the money has come through within 48 hours.
21st May 2020
Whilst you are waiting to speak to someone you might be interested in reading this article which details what the TTP team have been told to say when you eventually get through!
'How to negotiate time to pay in the current climate'
21st May 2020
See this article for the answer:
Alphabet shares: Get the details right.
"HMRC may also seek to apply the settlement rules where the amount of dividend paid on a particular class of share could not have been so unless no (or minimal) dividends were paid on the other classes of shares. For example, if the dividend can only be paid if one class of shares receives no dividend; then this may fall within the settlement legislation as a “bounteous arrangement”. (TSEM4225)".
PS>> dont be put off by the date of the article - the text is still valid.
18th May 2020
An HMO landlord client of mine rang HMRC about the SEISS. Apparently he asked the person on the line and they said that he was entitled to claim. I had already told him he couldnt but still...up to him.
Went all quiet and when I spoke to him on another day was proved right.
Then he tried to get a Boris Bank Loan and when he rang the bank was told to send in his tax return.
I told him that wasnt necessary and to try another bank (HSBC dont require you to be an account holder). He's applied and got the money but there again the form doesnt ask much.
Only has landlord income. I guess its all down to what you put on the application form.
12th Apr 2020
Have a look at this article on this very subject.
Client has to ring but it isnt 'Time to Pay' that we all know and love.. HMRC arent taking on any new TTP agreements at the moment.
You can ask for deferment of CT and you will not usually be refused. The deferment is for the maximum of three months and interest is payable.
HMRC call staff have been told to grant deferment nearly automatically but the money will have to be paid at sometime so if client can pay something rather than nothing then they should/
6th Apr 2020
I dont have all of their bank details so no...
I've sent an email round to all clients affected telling that it will prob be submission online, that they will have to do it themselves but I'm here to help.
I think that in the circumstances that they should do it themselves not least because if there are any errors then its their error and you cant be blamed.
A thought also... I wonder whether if an accountant does the application and gets it wrong whether the prof indemnity will cover... just a thought...
6th Apr 2020
I have got to say this again (and again!) if you are a director on the minimum salary then whether you do work or not on your business then you will get the grant. Apart from those businesses that remain open of course
This question has been asked a number of times already
Everything you need to know can be found by listening to the FSB webinar which includes commentary on this very subject. The bit about directors comes more or less at the beginning of the hour long webinar (recorded)
2nd Apr 2020
Yesterday I spoke to one of '2000'extra staff that had been taken to work on 'Time to pay'
He confirmed that the VAT and July self assessment payments were automatically deferred so you dont have to ring up to apply.
However he also said that the other taxes can be deferred (e.g Corporation tax and PAYE) but you do have to ring and apply.
They are granting deferment of 3 months.
31st Mar 2020
Gainsborough is right.
But the concern is that HMRC are telling clients that they are self employed and therefore will be entitled to claim.
It should be made by HMRC that they are not. Poss they will when the detail is published.