Member Since: 30th Jun 2010
Deputy head of tax at one of the big 43 in 1978.
10th Nov 2021
"It is generally recognised that employing more HMRC investigators repays the investment by a multiple of at least three and quite possibly much more. Therefore, many might struggle to understand why such an obvious step has been ignored for year after year."
Experience is everything in tax and Vat inspectors and I think that moving in this direction now might not become cash positive for 5 or 10 years.
Limited liability and no minimum requirement for share capital (or an HMRC bond) is the elephant in the room.
I'm disappointed that HMRC squeeze the pips out of the traders who have registered for taxes and are trying to comply whilst ignoring those who don't even register and walk away from a limited company after 2 years paying nothing.
27th Aug 2021
Thought provoking piece!
I just think that for those of us servicing mostly micro clients, where producing an FRS Vat Return might take 10 minutes, home working for staff is going to make you somewhere between 20% and 60% less efficient.
And if it is the future, then its just a stepping stone to outsourcing grunt work to underdeveloped countries.
30th Jul 2021
Wasn't it Hammersmith Council who bet the farm on interest rate swaps and lost?
And then had to get a judge to say that their actions were ultra vires...
17th Jun 2021
I've got no problem with the government's position. We were in a trading block. There was a democratic decision to leave it. Said trading block is trying to screw us over on a massive scale (by annexing part of our country).
You must be able to see the difference between this and statute tax law or stealing a Roller.
Boris got an 80 seat majority and I think you're in denial.
Top man Frosty! Give them hell.
6th Mar 2021
"...a Scottish comedienne with a growing reputation by the name of Anneliese Dodds..."
Anneliese was a perpetual student who jumped onto the Brussels gravy train. Her supposed ability to be Chancellor of the Exchequer seems to be based on the fact that her father (a CIMA member in practice) ran a small accountancy practice in rural Scotland. Hopefully she never gets near the levers of power...
20th Feb 2021
Really interesting post and I hope the p/t employee role suits you. GL
When you say:
"About two years ago I had an ACCA inspection..."
How did that come about?
I've had an ACCA practising certificate since the Holy Roman Empire and never had an ACCA inspection.
Was it a random thing?
Or did you invite them in (like vampires)?
16th Sep 2020
“…proroguing Parliament or rewriting legislation signed by the Prime Minister himself less than a year previously, is not so much abhorrent as unthinkable”
The first was necessary because Bercow went bonkers and let the opposition set the parliamentary business timetable in an attempt to thwart a decision that more of the electorate voted for than ever voted for any thing or party previously.
The second is necessary because Dublin is trying to get Brussels to break up the union.
3rd Sep 2020
Do you mean swinging or swingeing?
Swinging is car keys in the fruit bowl wife swapping business in suburbia.
Swingeing is drastic.
21st Jun 2020
You're living in an ivory tower, Philip.
We are all knocking our pans in making SEISS appeals and submitting CJRS claims.
And you think there could well be some free time available!
I really think you should have a column in the FT aimed at fellow bigwigs.
9th Apr 2020
Hey FT. Good to hear your thoughts. I've not had a day off since this started. Lot of anxious clients out there. CIS subbys desperate for refunds.
I predict that when this 5hitstorm over there, will be a massive overhaul of the taxation system. Its way too complex and there's too long a lag between reporting period and tax collection. If there is reform then our job will change...
Look after yourself. You're our man cycling behind the Clapham omnibus.