Member Since: 22nd Nov 2006
31st Jul 2020
This has still not been processed by HMRC, way past their "up to 18 March" assertion.
I called them again and they told me that my client first needed to pay all of the outstanding corporation tax for the March 2018 period and they would then refund the overpayment. They aren't apparently able to use the loss carry back as a "payment" against the debt....
Seems a bit daft to me.
20th Jul 2020
I've been telling clients they don't have to pay at the end of July but can if they wish. Its been roughly 50:50. What I have also been doing, which was rare before, is ask HMRC to code out as much as they can, so deferring smaller balancing payments from January to April and beyond, with the added bonus of no POA's next year.
6th Jul 2020
I have one of my director clients on furlough, sole director/shareholder.
His company works on fixed term contracts, his last one ran out in early March. He was negotiating a new one to start in early April but that got canned due to coronavirus.
He has been on furlough since April as he hasn't worked since.
He has been looking for new contracts and going for "interviews" but so far nothing has been forthcoming. I'm happy he can still be furloughed as looking for new work is covered by his director's duty of "promoting the company".
As soon as he gets a new contract we will take him off furlough.
24th Jun 2020
They should scrap all VAT between VAT-registered businesses, just make it a B2C tax.
The rate should also be permanently reduced to 10%.
Make me the Chancellor now!! :)
3rd Jun 2020
I've been back in my office for two weeks. I work alone in a serviced office complex, no issues with social distancing.
3rd Jun 2020
Being ineligible doesn't prevent clients from claiming. They will need to lie of course about continuing to trade in 2020/21 which will come to light, hopefully, when their 2020/21 tax return is filed with no S/E on it.
To answer the OP's question: Yes!
6th May 2020
Are the banks happy to receive applications from third parties? Or are you filling in the forms as if you were the client? I believe the second option is what many, including myself, consider fraudulent.
It isn't about whether this extra service should be provided free or not, the service should not be provided. We, as accountants, should not be applying for loans on behalf of our clients. It is fundamentally wrong, potentially fraudulent, and a conflict of interests.
Isn't this how Capitalise.com and other funding portals work?
The firm I work for is partnered with Capitalise.com and we have the ability to apply for loans on behalf of clients, not just CBILS or BBLs, but any kind of finance and capitalise.com pay us a cut of the commission they get from the lenders.
Would you consider that fraudulent?
I don't personally use it as I was worried about the lack of independence of Capitalise.com, their loan search isn't whole of market.
4th May 2020
The guidance also states:"If you’re unable to claim online an alternative way to claim will be available. We will update this page with more information soon."
Yes it does, fingers crossed. I'm not sure I can mimic enough voices to pretend to be my clients on the phone....
4th May 2020
There you go. The clients will need to make their own claims via the Gateway.
4th Mar 2020
I assume the "time costs" you have spent chasing the ex-client about making the refund are pretty similar to the amount you are trying to refund?
Even if not, write to them saying this is my last attempt to make contact with you, enclosing a cheque. If they don't cash it, raise an invoice against it.