Member Since: 14th Jan 2014
30th Apr 2021
A £100 penalty for HMRC for each incorrect notice, payable to the affected party, would be a small start.
29th Mar 2021
Luckily all the self employed religiously put money aside for their tax bills, so there will not be any problems in the transition year when they have to find 2 years tax payments in one year.
26th Mar 2021
When returning them, don't forget to include your invoice for time and costs. It may sound petty, but it's the only way to get them to improve, hit them where it hurts, in the pocket.
22nd Mar 2021
In regard to the "two way street", can I suggest the following:
2 points - Failing to answer the telephone in under 90 seconds
4 points - Incorrect coding notice or SA calculation "correction"
6 points - Failing to reply to a letter within 14 days.
20 points leads to HMRC paying a £200 fine to the taxpayer.
18th Mar 2021
I wonder how this will affect accountants who have "self employed" subcontractors that are not members of a professional body, don't have PI insurance, and are not regulated for money laundering?
26th Feb 2021
Pointless having a budget speech these days. Everything of interest is leaked to the press in the days and weeks beforehand.
17th Feb 2021
I've just dug out the oldest tax card I can find, for 1976/77.
Personal Allowance £735
Basic rate on the first £5,000 at 35%, then
£500 at 40%
£1,000 at 45%
£1,000 at 50%
£1,000 at 55%
£1,500 at 60%
£2,000 at 65%
£3,000 at 70%
£5,000 at 75%
The rest at 83%
and an investment income surcharge of 15% (up to 98% total) on interest, dividends etc over £2,000.
In the words of four yorkshiremen, You try telling the young people of today that, they won't believe you.
10th Feb 2021
A 30% penalty for HMRC, for lack of reasonable care. And they should think themselves lucky, it would have been more under the old system just for size and gravity.
13th Jan 2021
Did anyone run this scheme past the Office Of Tax Simplification?
2nd Nov 2020
As true as ever is that keeping the tax rules few, simple and well enforced is better than having thousands of pages of tax rules that no one understands or wants to. KISS
I wonder how one gets selected for a position at the Office Of Tax Simplification? It can't be an onerous position, as I haven't seen any tax simplified for donkeys years. Only a week left to complete their survey on CGT, I wonder how they are planning to simplify it.