This is interesting.With identifying the correct foreign tax credit applicable you almost have to start from the finish.I have spent ages on this,often for some very small amounts.Generally however with automated tax comps,remember last years problems with HMRC unable to accept all comps and ran off a long list of possible incompatibility’s .A couple of people last week in my office,doubted the dividend tax result produced in a case as it seemed non sensical.I had actually checked it out with a spreadsheet my software house produced and the HMRC result and everything tallied.The two of them spent about an hour on this (in January) and eventually agreed although the comp was non sensical it was right.Much to my relief.One of the colleagues was about to speak to IT support and said that a (Jan) update was correcting a software computation error !I am glad this is my last January rush.
I made the decision last Jan to go end of tr season this Jan.I am unsure almost on a day by day basis whether this is the right decision.Money is of course a big factor,but whilst I still enjoy the mental challenges,clients are now p*ssing me off big time.We all know the c**p we get if we miss the deadline,yet I still have 150 odd to do; and as of last Wednesday I had an empty in tray & everyone had had at least one reminder.Initially MTD prompted the decision.But this seems to be kept on pushing back and back.
The Office is split on this,and I am very wary of pre population.When preparing tax returns,you have to be in control,mistakes are not admissible in tax and pre popultion does throw in a lot of guff.Also was it last week or the week before that HMRC went down for two hours.
I was an AI Inspector in the mid late eighties.In my last year I pulled in £300k against a salary of mid teens.Why the emphasis on investigating mid level tax returns tailed off,just didn't make any sense.
I weep at HMRC ethos at present.It simply has not been fit for purpose for many years.
High inflation should scare the bejesus out of all those final salary pensioners who voted Brexit-even the best pension schemes have an index limit of 5%.
I didn't even know what a pension was during the early Thatcher years, of 20% plus inflation-anybody know how fixed income pensioners survived during those years ?All I cared about was some eye watering pay increases and a mortgage which all but disappeared, seemingly overnight. Until my next house move !
My answers
This is interesting.With identifying the correct foreign tax credit applicable you almost have to start from the finish.I have spent ages on this,often for some very small amounts.Generally however with automated tax comps,remember last years problems with HMRC unable to accept all comps and ran off a long list of possible incompatibility’s .A couple of people last week in my office,doubted the dividend tax result produced in a case as it seemed non sensical.I had actually checked it out with a spreadsheet my software house produced and the HMRC result and everything tallied.The two of them spent about an hour on this (in January) and eventually agreed although the comp was non sensical it was right.Much to my relief.One of the colleagues was about to speak to IT support and said that a (Jan) update was correcting a software computation error !I am glad this is my last January rush.
I made the decision last Jan to go end of tr season this Jan.I am unsure almost on a day by day basis whether this is the right decision.Money is of course a big factor,but whilst I still enjoy the mental challenges,clients are now p*ssing me off big time.We all know the c**p we get if we miss the deadline,yet I still have 150 odd to do; and as of last Wednesday I had an empty in tray & everyone had had at least one reminder.Initially MTD prompted the decision.But this seems to be kept on pushing back and back.
The Office is split on this,and I am very wary of pre population.When preparing tax returns,you have to be in control,mistakes are not admissible in tax and pre popultion does throw in a lot of guff.Also was it last week or the week before that HMRC went down for two hours.
I was an AI Inspector in the mid late eighties.In my last year I pulled in £300k against a salary of mid teens.Why the emphasis on investigating mid level tax returns tailed off,just didn't make any sense.
I weep at HMRC ethos at present.It simply has not been fit for purpose for many years.
Hated Feuteventura
High inflation should scare the bejesus out of all those final salary pensioners who voted Brexit-even the best pension schemes have an index limit of 5%.
I didn't even know what a pension was during the early Thatcher years, of 20% plus inflation-anybody know how fixed income pensioners survived during those years ?All I cared about was some eye watering pay increases and a mortgage which all but disappeared, seemingly overnight. Until my next house move !
HMRC are not corrupt.
You could contend that they are not presently fit for purpose-but corrupt no.