Member Since: 9th Jun 2016
26th Oct 2021
Is there any point listening given there is nothing left to announce !
Well probably the throwaway comments about tax increases that get little speech time, that the 126 press notices thereafter give the devil in the detail and we work out the true cost to our clients
25th Oct 2021
It is an interesting debate. I started in this world in 1989 when paper records were prevalent and any computer systems usually a dogs dinner that took hours to sort. All done usually several months after the year end and just before the deadline.
We have embraced the technology, can see the continued benefits of it and undoubtedly given the pace of change will embrace a lot more. How we do work and when is changed beyond recognition.
But perhaps those early days resonate, the old SISO principle of rubbish in equals rubbish out. It is the mandation thereof and you have to be blind to not realise the fundamental reason for HMRC pushing through with this. It becomes almost a civil liberty issue
8th Oct 2021
If your hoped for stress relief is going to watch Sheffield Wednesday play football I can safely say it does not help !
8th Oct 2021
As the speech is on my 20th wedding anniversary can I suggest an immediate reduction to 0% VAT on hospitality and flowers, plus a very specific one day only Eat Out to Help Out voucher. Who says us Yorkshire folk are tight
1st Oct 2021
Yes agree with the sentiment that compliance and advisory work hand in hand. I mean how many meetings start within the context of discussing and finalising the accounts and 2 hours later you suddenly realise we haven't specifically discussed them.
So my clients want to ensure the muck and bullets is right, they pay for the compliance so they don't have to worry about it or know the risks are mitigated
However you then hopefully become a trusted advisor, but do you only gain their trust by doing the compliance right in the first place
29th Sep 2021
I am probably in a minority of err 1 but I quite like Starmer. He is analytical and makes reasoned arguments, can see the full picture and importantly for Labour chances that business is not the root of all evil. The idea that private and public sectors should work together as an example. He is probably a tad short of political charisma, but given the chap in No 10 has plenty of that but total incapability to do the job perhaps a change is needed. If he can eradicate the loony left somewhere then he may have a chance in Middle England
29th Sep 2021
The FRC report is a fascinating read. There are bits where, to be honest, an element of "There, but for the grace of God, go I" creeps in until you realise the scale. But there other jaw dropping bits - Para 5.13 is a classic.
I read it, but it was the basic faults in the simple areas on the bank reconciliations. Failure to check what appears to be dubiously entered uncredited lodgements to post year end bank statements. I can't profess I was a good auditor, my documentation was more in my head than on a file, but my accounts prep training meant I probably over-audited the bank side. The old mantra that was rammed into me, if that don't balance then nothing else is right. Perhaps that is the problem the wet behind the ears audit staff simply do not get involved in the muck and bullets of accounts prep and miss the obvious because the computer is right
28th Sep 2021
First thing I did was cull our timesheets when I took over the practice. I manage on whether we hit deadlines, client satisfaction levels and how we eventually perform v budget
8th Sep 2021
I accept that point, we and our families all benefit from the NHS and it needs more funding. The question for me is the lack of equitable status in what income streams are being targetted and the exemption of rental profits / capital gains. I have suggested above a 10% levy on residual pension funds. So if the pot was 600k left to beneficiaries, that would drop to 540k. You know what still not a bad outcome. More controversial I would put a 5% levy on all estates - above 100k - and disregard all BPR and APR reliefs in making that calculation. Quid pro quo I would exempt the main residence from IHT. So a few options there. Notwithstanding absolutely that the money should be spent as efficiently as possible, not just here but across Govt and there is huge emphasis on how this care is provided in terms of quality and regulation
8th Sep 2021
I'm glad you're not prime minister!
Tbh i would be better and more equitable than the current one - lining the pockets of cronies at our expense. But if you are happy with that