Member Since: 3rd Nov 2006
25th Oct 2019
Negatives of no deal exaggerated.
I believe all the hype about "crashing out" and other hyperboles around no deal is just that -hype. Our business purchases over 70% of our products in the EU and 15% outside the EU. For us as far as we can see leaving the EU will make little or no difference. Our clearing agent says life will become easier in fact due to the postponement of import VAT payments. I am sure our situation applies to the vast majority of businesses in commercial relations with EU businesses. The products subject to duty under WTO terms are only a small proportion of all the produts traded, and where there are duties, these are of the order of 5-10%, hardly likely to put companies out of business. The only worry is what will happen to the exchange rate. We expect that any short term shock will quickly be recovered when everyone comes to and realises the world is still going round the sun. Just one business owner's view, mind !
30th Aug 2019
However, on 1 November is it possible that while you will still pay VAT in France, there might be an additional VAT charge when you bring your shiny new car/gadget/diamond ring back home?
Answer : NO. the French exporter selling to a customer outside the EU will under current EU rules be able to zero-rate their export invoice
19th Aug 2019
Seems to me that this is akin to well documented fraud cases where fraudsters contact a company pretending to be a supplier and ask for bank details to be changed. Money for genuine bills is then siphoned off to the fraudster. Legally the purchaser is still liable to pay the supplier, but if they refuse and the supplier cannot get redress, it is a bad debt.
29th Jul 2019
Hello I'm not totally clear about the starting position on " exempt input tax ". Is this notional VAT on "exempt supplies " eg books and childrens' clothes, food groceries etc, or is it notional tax on purchases from suppliers of taxable goods and services who are exempt from charging VAt due to being below the VAT threshhold ?
Apologies for being a bit dense !
5th Jul 2019
You pay half of what you earn over to the Goverment to waste as it sees fit, then half again of what you have already been taxed on. Plunder and pillage ! No point in bothering working to save is there ?
5th Jul 2019
You pay half of what you earn over to the Goverment to waste as it sees fit, then half again of what you have already been taxed on. Rape and pillage ! No point in bothering is there ?
25th Jun 2019
"So renting a clean and well decorated house to a single mother with 2 small children and keeping the rent fixed and low for 5 years ( until a small increase below market rate had to be made due to the costs of complying with all the red tape around) is doing no social good - think again. I know the landlord - it isn’t the only property they rent to people who are on benefit and they struggle to keep the rent affordable. They aren’t on their own and they shouldn’t be penalised. They are creating their own retirement fund so they won’t burden the state later on. You are plying the politics of envy."
I did just that and was left with a 6months rent arrears bill, a substantial bill for eviction and further bills for clearing out piles of garbage. Never again. Only professional employed tenants from now on.
16th Apr 2019
"Where the borrower completes a SA tax return then student loan repayments are calculated and paid through the SA system. However, loan repayments are not included when calculating payments on account."
What is the authority for this statement ? My son has been asked for repayment through the payments on account statement for several years, and even charged interest for non-payment this year even though he included enough in his payment on account to repay the loan completely. HMRC simply assumed that he should be paying the same this year as the previous year, i.e more than the outstanding loan. Do HMRC not get advised by SLC of the outstanding balances on student loans ?
16th Apr 2019
HMRC are getting all sorts of things wrong. My self-employed son was asked to pay non-existent student loan repayments and charged interest for non-payment. He paid up, thinking he must have made a mistake. Now he has to try to get it back ! They are just making more work for their "customers" as well as for themselves.
8th Feb 2018
Hippocratic Oath: Cambridge dictionary definition :
"a promise made by people when they become doctors to do everything possible to help their patients and to have high moral standards in their work"
I don't see anywhere that mentions, say, helping the government save money rather than spending it on patients' needs. That would be the "Hippocratic" equivalent of accountants helping the goverment maximise their tax take rather than helping their clients minimise their tax bill.
Tax and goverment expenditure are political issues, and it is not helpful to add moral or ethical dimensions to the debate on tax.