Member Since: 4th Jul 2018
24th Feb 2020
Thank you all for your comments on this. I have found everyone's input very useful. I have been unexpectedly diverted to urgent matters in recent days, hence the delay in acknowledging.
We haven't seen HMRC raise a FTN penalty within our Practice (or cant recall one anyway). That seems to reflect Matrix's comments and Richard's re a de minimis. We'll have to see what happens... I'll report back. Thank again!
28th May 2019
Did an hour before 8am just to keep things moving (my children love to wake up at 5am) but other than that nothing.
28th May 2019
When I quote for new business I always factor in a little extra time for the inevitable 'extra matters' that arise. I think clients hate being charged for the quick phone calls for "is there VAT on stamps" or whatever. Clients tend to be reasonably consistent with how much of this extra care they want/need, so I consider this when upping the fees for future years if they turn out to be the type that calls every month for 20 mins rather than every 6 months for 20 mins.
I do charge separately, similarly to Awol though, for things that are one-off. Wherever I can, I tell people upfront that there'll be an extra charge but sadly you can't always do this.
24th May 2019
I have just been rejected re a 75 year old client's exemption application; so take that as a warning that just saying your client is 'old' will not be enough to avoid MTD. I am going to appeal as HMRC have ignored the other matters I advised them of which are also significant.
15th May 2019
Applied over the phone for a client on 25th March 2019, heard nothing since.
25th Mar 2019
Just called and made an application for exemption for a client who is 71. If its useful info to any who are applying shortly I was asked a fair few questions re whether they were worthy of an exemption. They asked about how the returns are currently submitted, how VAT totals are currently worked out, whether there were any family members who could help and whether the records could be maintained by a third party etc. We'll have to wait and see what the outcome will be...
20th Jul 2018
PDFs please as more stable and easier to transfer/store offline. Why in times of us being told there is no money or IT resource to continue investment in dynamic coding, simple assessment and general matters are they wasting money on this. I expect they'll say it will save them money in managing PDFs but I strongly imagine the cost of implementing the change (drafting of discussion papers on the matter, dozens of meeting etc) this will not be the case in the real world.
18th Jul 2018
Do not give up on the hope of finding a good staff member. I worked for a large global finance firm for 5 yrs before moving into accountancy (to a 1 partner, 1 other staff member firm run from home) as my eyes were opened to the variety of opportunities open in small practice. As with all recruitment challenges you just need to find the right match. Some years down the line I now have a trainee who, having spent perhaps a decade in banking, is showing real promise and staying enthused. Its doable but hard. As others have said there are some negative preconceptions out there but these should be challenged in the same way you would re potential clients.
16th Jul 2018
Thank you for your replies. Iris have said it's a very small number of people who have encountered issues so think we're going to give it a go and upgrade now too. Not feeling 100% relaxed about it though (particularly as the main Iris screen still says don't do it) but maybe the whole thing wasn't actually worth worrying about. Thanks again.
12th Jul 2018
I agree, capital improvement all the way for me as nothing is being repaired or replaced.