I'm sure that's what will happen - but then will come the quarterly payments on account for everyone. Its just a ploy to get their hands on our money sooner.
And according to HMRC policy paper on impact to businesses, it will cost just £3 to file an MTD return and just 6 mins to check, so not sure what all the fuss is about........................
I guess this is for HMRC's benefit rather than tardy taxpayers. Now they wont have to allocate resources to deal with appeals against late filing penalties citing the pandemic as a reason. Its of no real benefit to accountants accept having to no longer having make appeals on behalf of clients who always bring in their information late, well until March anyway.
In the example given on the printer which has both private and business use. Isn't a printer a capital expenditure good and therefore not a relevant good for FRS? so private use irrelevant?
My answers
I think the original statement yesterday was an April Fools but Dim Jim got his days mixed up.
But you'll miss all the fun.....................
I'm sure that's what will happen - but then will come the quarterly payments on account for everyone. Its just a ploy to get their hands on our money sooner.
And according to HMRC policy paper on impact to businesses, it will cost just £3 to file an MTD return and just 6 mins to check, so not sure what all the fuss is about........................
I guess this is for HMRC's benefit rather than tardy taxpayers. Now they wont have to allocate resources to deal with appeals against late filing penalties citing the pandemic as a reason. Its of no real benefit to accountants accept having to no longer having make appeals on behalf of clients who always bring in their information late, well until March anyway.
Not much of an 'outcry' with only 2,000 signatures on the petition, which I think is below 1% of the qualified accountants in the UK.
In the example given on the printer which has both private and business use. Isn't a printer a capital expenditure good and therefore not a relevant good for FRS? so private use irrelevant?
No new software required for MTD
Just a smartphone to take lots of photos and HMRC will sort everything else out.