Member Since: 22nd Nov 2006
28th Jul 2020
This is a logistical nightmare. The cynical would say its designed to distract accountants and business owners from other things....anyway..
I agree it probably wouldn't be worth the cafe owner leaving the scheme, but would clients see it that way? Most of them think they pay too much tax already because they believe (wrongly) that Amazon et al don't pay enough, so will be looking to save tax wherever possible without necessarily thinking about the associated costs.
The pub example is obvious but how many pubs actually qualify for the flat rate scheme?
22nd Jul 2020
Removing the PPRR exemption would, I believe, be a bad idea unless its coupled with lower SDLT rates and/or a return to MIRAS for people's own homes.
I agree the idea of rolling-over such gains would be simpler but would it raise any tax?
22nd Jul 2020
Hmm, so I need to retire before April 2022 or at the very latest before April 2023? That might be doable....
22nd Jun 2020
Directors have a statutory duty to promote the company of which they are a director, so I would say that lining up new work is fine if the director is furloughed.
The new contract just has to stipulate that work won't start until some future, to be agreed, date.
3rd Jun 2020
Well 97% of the world's "wealth" is debt so whatever.
6th May 2020
This is a good system with a big irritation that I can't do it for my clients. I get the fraud issue, it would be easy for unscrupulous agents to claim on behalf of clients and divert the money to their own accounts, but the tiny number of those kind of gobshites shouldn't mess it up for the rest of us.
One of my SE clients is a scaffolder, he can barely do anything that requires thought. His wife is doing his claim for him and has already asked me 4 questions......
29th Apr 2020
They should just scrap IR35 altogether and ramp up corporation tax instead to discourage people trading through small limited companies, if that's what this all about.
When I started my accountancy training in 1990 most of our small business clients were unincorporated because the corporation tax rate was 35%.
6th Apr 2020
So the self-employed guys won't need to apply? HMRC will contact them? But not by email or text so by post? I better check all my self-employed clients have told HRC their correct address then.....
30th Mar 2020
Is the is the payoff for delaying the changes to the off-payroll working rules and IR35?
Whether it is or not, is long overdue. I have one client who go involved in a scheme he never should have and its a nightmare to deal with it.
30th Mar 2020
I would imagine the relevant return for your client is the February one, payment for which is due by 10 April, ie payment due between 20 March and 30 June.