Member Since: 4th Aug 2009
24th May 2021
I was told a couple of years ago by an HMRC operative that the £100k threshold had been increased to £150k but I've not seen anything to confirm that. You are being far too presumptuous in thinking they will wait until after P11d deadline to issue a P800. P800s and tax repayments frequently issued prior to P11d deadline just to keep us on our toes.
30th Mar 2021
This approach sounds sensible and workable to me.
I wouldn't dismiss the option of resourcing up on staff as there may well be accountants (some on this forum) who are nearing retirement and do not want to carry on and face MTD in their own practice but would welcome the opportunity to work 1 month in 3 on a temp or part time basis for someone else to make a bit of money to supplement the pension. Now many of us are equipped to work from home that should be possible without increasing your office costs.
16th Mar 2021
Previous advice all very sensible but I suggest before going any further you satisfy yourself that someone will be paying your fees as it doesn't sound like your new client will be able to.
15th Mar 2021
I think that enquiries often take a different form now. I've had several clients receive nudge letters on foreign income presumably prompted by the common reporting standard. And then there's the ones that come as part of the let property campaign traced through from letting agent reports.
15th Mar 2021
Gosh, if you really are new to accountancy I wonder what the previous job was to make you so cynical.
1st Feb 2021
Mmmm. Sure to be someone in Jersey who can offer a tax efficient 'solution' probably involving loans or EBTs or something of that ilk.
Or maybe it's just 1st of Feb and I'm feeling a bit cynical and tax weary.
3rd Dec 2020
Sarcastic responses aside this question touches on an increasing issue of taxpayers working remotely across borders and how this affects their tax and residence positions. Depending on the exact dates it is likely that the OP will be suffering payroll taxes in Spain but will be caught as UK tax resident too and liable to tax here in UK. They need to be asking what UK tax support the Spanish employer will be giving them.
9th Mar 2020
Murphy1 hasn't specified that the loan is a personal one simply that it requires final accounts.
So - loan urgently needed for business in stress and accountant being pressured to certify figures they are not happy with is my assumption.
That sets my warning lights flashing and sirens wailing with the possibility of being sued by the lender if the loan goes bad.
If accounts are supplied for this purpose they should have all the usual caveats and more in spades.
Personally I would be tempted to show the client the door.
10th Feb 2020
She probably thought it money well spent and a great relief to have someone other than sheep to talk to.
10th Feb 2020
What about GDPR? There's an argument that where personal data is concerned (eg personal tax clients) paperwork should be destroyed when client leaves unless you think it might be needed to defend court action or a tax enquiry.
I had a clear out with my own old clients last year and shredded all the past clients but with current clients I have records going back well over 10 years and am always conscious that the tax man could try and go back 20 years.