Member Since: 11th May 1998
23rd Oct 2017
Readers may also be interested in this very recent First Tier Tribunal decision where the FTT appear to agree with HMRC - see paragraphs 103 et seq in the decision of TC06123: REBECCA LOUISE VOWLES  UKFTT 704 (TC). Decision is here http://financeandtax.decisions.tribunals.gov.uk/judgmentfiles/j10092/TC0....
20th Jul 2017
If only 51 weeks are recorded then possibly that year will not count as a complete year for state pension purposes!
5th Apr 2017
Assuming the vast majority of your clients have 31 March or 5 April year-ends, what are your extra staff going to do in the eight months of each year when there will be no quarterly updates?
24th Mar 2017
Cash basis will be the default for property income. Will the Revenue warn taxpayers of the extra one-off tax that will arise due to not making the prepayment adjustment? This is a sneaky way of increasing the tax take from honest taxpayers.
17th Mar 2017
It's all very well the Lords coming up with a common sense approach but it is the Commons that have the real say. I have already written to my MP setting out my own concerns about MTD and she seems to be listening. My main concern is that the value of the accountancy profession (which in many ways polices the tax system) is being ignored and that the vast majority of taxpayers who use accountants already submit accurate figures. I have argued that it is contrary to their human rights to be forced into changing their accounting systems when there is no advantage to them (or HMRC). I think that those who use accountants should be completely exempt from the proposed new rules.
I would urge everyone affected by this to write to their own MP and hopefully enough of them will then support the Lords' view especially if you make them aware as to how MTD will affect their own tax affairs and what a serious backlash there will be when their constituents find out what it all means.
22nd Feb 2017
Just watching the live House of Lords Select Committee - Reps from HMRC including Jim Harra. Then fire alarm went off and proceedings suspended. Hopefully the same will happen with MTD!
Edit - It was the division bell not the fire alarm.
1st Feb 2017
Best advice to clients - become digitally excluded by complying with this section of the proposed legislation:
"(4) The digital exclusion condition is met in relation to a person or partner if—
(a) the person or partner is a practising member of
a religious society or order whose beliefs are incompatible with using electronic communications or keeping electronic records, "
25th Jan 2017
Everyone who paid class 2 by DD paid up to July 2015 as this relates to 2014-15!
21st Mar 2014
Transfers from defined benefit schemes
I was surprised that there was no anti-forestalling legislation proposed to prevent existing members of defined benefit schemes from applying for a transfer to a personal pension before the new rules come into effect. I would have thought that many doctors, teachers etc will be advised to make transfers now before the new rules come in. Although the consultation document suggests that this will not be allowed after the new rules come into effect, is there likely to be a mass exodus from DB schemes in the meantime?
21st May 2012
A little harsh
"Mack was also suspended for 12 months, ordered to pay £1,800 costs and will serve 100 hours of community service."
I didn't realise this was a hanging offence!