There is another thread which I didn't see when I started this. It seems the issue is known to HMRC and they are working on it so hopefully it will soon be resolved.
I apologise for starting a new thread. I looked but didn't see.
I'm also having issues with codes. Just amazingly spoke on we chat who confirmed it is a known issue which is being worked on. I suggested they made it clear on the website as apparently there are no issues. I also said agents tend to panic thinking they are the only ones. They said they would pass it on to the technicians.
Thank you I really appreciate your advice. So if I add the subcontractor expenses omitted in previous years to this year's accounts that would be acceptable? And then amend the tax returns at HMRC? If I carry the loss from this year back to previous years would this not prompt a repayment without having to amend the tax returns? Sorry it's the first time I've come across this scenario and my poor client didn't have a clue.
My client is the owner/director/sole-shareholder
The total sales are recorded in the accounts. The chair renter gets 50% of their own earnings.
This 50% has been totally omitted in the expenses and recorded as a dividend.
I tell new subbies that they get their refund quicker if it's via me, which I think is true. I always transfer same day.
I've also left it late. I am only a small business so thinking of opting for the free Vital Tax bridging software.
Could anyone advise me if the spreadsheets we transfer to bridging software are just the boxes 1-8 or do we have to transfer all the individual transactions.
The main reason I ask is, my largest client has 5 separate pubs which he runs under the same Limited Company. I do his accounts separately as he likes monthly reports to see how each pub is doing. I then incorporate all the figures together for VAT and Year End Accounts. This means that the transactions for each pub are separate iykwim?
So am I correct in thinking I can just punch the figures into a bridging programme to submit vat returns?
I was under the impression the return was to be sent direct from the accounting programme showing the individual transactions if need be.
(I haven't had time to look into it properly to be honest but it is on my long to do list)
Thank you I'll have a look
Can anyone recommend a cheap client portal please?
I have just recently set up my own practice.
Pardon me for bothering you!