So presumably not having enough staff to complete a tax return because they were deployed to other work will be a reasonable excuse for filing a Return late?
reduced Dividend tax-free band - but no increase in Div tax rate - even though self-employed NIC goes to 11% - that makes no sense - the benefits of incorporation will rise because of the 11% - 7.5% difference
Tom, I am sure that you will have moved on from this VT Trans+ linkage project now, 9came to this discussion from a Google search) - but I think that if you really want to build a useful linkage from your platform that will facilitate growth for Orbitall you should be looking at Xero / QBO rather than desktop solutions like VT / Sage?
Live Charts & Alerts
query - I think you are missing the point - you, as an accountant can interpret data - but can you provide constantly live charts for your clients?
Why Xero is to be highly rated
With genuine great respect, you are missing the point – Xero is not designed for us to pick up after the event and put right; it is for us to help the client, hand-in-hand, as the year progresses – to get things “right first time” – that way the client has good management info & the year-end accounts are barely more than running a report.
I think you know this, (I have looked at your quality posts on other discussions), but readers of this piece will not all have twigged the fundamental change that cloud accounting brings.
Evaluating cloud accounting packages by comparing them with how quickly a traditional after the event accounts preparation / error correction process can be done on Sage/QuickBooks is not going to pick up the advantages of Xero & the other cloud packages.
Relax it is Christmas
Guys, (BKD & Whiteways) - don't get wound up - you are two knowledgeable accountants and your contributions are valued. Why not kiss and make-up?
Of more importance to the wider world - Mike's "Surely it is unworkable" post. If Goodwill valuations rise, maybe from HMRC pressures, maybe from clients not worrying about CGT because they are now using s162/s165, the insistence of current GAAP on a 5 year write-off will unduly depress distributable reserves, even if the clients can draw against their DLA.
I guess the problem is GAAP rather than George O's Autumn Statement.
Not a business issue but point 8 above is exactly right - this app:
a kettlebell in the office and just 10mins to spare make this accountant feel much better.
They might as well not ask for the director's information - as they anyway invariably ignored, (for setting up personal self-assessment), the directorship recorded on the CT41G.
"Frequently" asked questions
"My client has a deferred tax liability in respect of its defined benefit pension scheme liability. I have chosen to recognise this within the deferred tax liability account. Is this correct?" --> how many FRSSE companies have liabilities for defined benefit pension schemes?
Online / Desktop transfer?
Thank you for coming on here, and good luck in your new role.
You have not commented on carnmores point "and why cant we transfer from a deskop to an online version yet - this should have been top priority"
I have a number of clients who have used desktop QuickBooks for years, who want to go to online but cannot comptemplate setting up a new online dataset manually.