I am sure you are aware of the ML guidance which clearly state that it is an offense to let the client know of your intention. I would simply resign with a resignation letter asking the client to find a suitable accountant and disclose the CGT liability. There must be a reason why the client is not willing to make a disclosure. Please let the new accountants know of the reason.
If the error is not material there is no point making corrections. The materiality depends on various other information mostly by lenders and credit agencies. Does it effect?
If the following year accounts are filed early as possible with adjustments then there is any point in sending corrections to the previous year.
A few of my clients wanted to pay the class 2 during COVID 19 which brought their turnover below £5,000 mark for the last two years. We requested in our tax returns that we would like to pay class 2 triggering off the liability. When the assessment came from HMRC it shows no liability and have changed the liability to zero.
I have been asking them to change their corrections for a few clients. Sent appeals and letters. No news to date. Help line could not answer. The legislation allows the self-employed to pay class 2 NI.
My clients are concerned about their old age pension.
MTD? A small practioner must keep well every 4th month of the year. Never fall ill. You cannot go on holiday. Cannot have any internet issues. Make sure your computer is not going to fail.
If you do mandatory fines.
History was:
Accountants planned the work load and other domestic issues in the past with flexibility.
I am inclined to ask the client to submit their own claims du to admin work involved in advice and retention of paper work for 6 years. If the client would like me to process then there has to be a minimum fee of £50 a claim. Since it is not certain how many claims needed in future, only assumption that we claim £40 per each claim in the future. Would any one comment on this please?
Yes. Your husband must pay the amount you claim separately to other money for shopping etc.
Keeping a time sheet is a good idea. You should not go over the primary threshold.
I see no logic in the HMRC latest cost cutting attempt with CT600 acknowledgement/payment slip. This is falls economy and very short sighted move by HMRC. Some of our clients do not have efficient broadband facilities. Some are not willing to pay online due to cyber attacks. Older clients are asking for the payslips for them to go to a bank and pay over the counter. We do accounts well before due dates and file them in time. Most of the people used to pay their corporation tax bill using well in advance by using the payslip. I would like to question HMRC about controvercial disasterous MTD idea. As I understand the purpose behind MTD was to know your tax liability in time What a hilarious situation. Treasury is looking for prompt payments from the tax payers. Yet not sending reminders but willing to waste more time and money with debt collecting management. No common sense with those highly remunerated policy makers.
My answers
I am sure you are aware of the ML guidance which clearly state that it is an offense to let the client know of your intention. I would simply resign with a resignation letter asking the client to find a suitable accountant and disclose the CGT liability. There must be a reason why the client is not willing to make a disclosure. Please let the new accountants know of the reason.
Apologies. I got the message
Please wake up. impossible to bring forward MTD for income tax. Inflation is not a relevant factor.
If the error is not material there is no point making corrections. The materiality depends on various other information mostly by lenders and credit agencies. Does it effect?
If the following year accounts are filed early as possible with adjustments then there is any point in sending corrections to the previous year.
A few of my clients wanted to pay the class 2 during COVID 19 which brought their turnover below £5,000 mark for the last two years. We requested in our tax returns that we would like to pay class 2 triggering off the liability. When the assessment came from HMRC it shows no liability and have changed the liability to zero.
I have been asking them to change their corrections for a few clients. Sent appeals and letters. No news to date. Help line could not answer. The legislation allows the self-employed to pay class 2 NI.
My clients are concerned about their old age pension.
MTD? A small practioner must keep well every 4th month of the year. Never fall ill. You cannot go on holiday. Cannot have any internet issues. Make sure your computer is not going to fail.
If you do mandatory fines.
History was:
Accountants planned the work load and other domestic issues in the past with flexibility.
Accountant Fees -COVID 19 -Job retention claim
I am inclined to ask the client to submit their own claims du to admin work involved in advice and retention of paper work for 6 years. If the client would like me to process then there has to be a minimum fee of £50 a claim. Since it is not certain how many claims needed in future, only assumption that we claim £40 per each claim in the future. Would any one comment on this please?
RA
There is a Vat adjustment of apprx 7.2% and appear on the sheet of paper. What is this and what deos it represent?
Yes. Your husband must pay the amount you claim separately to other money for shopping etc.
Keeping a time sheet is a good idea. You should not go over the primary threshold.
I see no logic in the HMRC latest cost cutting attempt with CT600 acknowledgement/payment slip. This is falls economy and very short sighted move by HMRC. Some of our clients do not have efficient broadband facilities. Some are not willing to pay online due to cyber attacks. Older clients are asking for the payslips for them to go to a bank and pay over the counter. We do accounts well before due dates and file them in time. Most of the people used to pay their corporation tax bill using well in advance by using the payslip. I would like to question HMRC about controvercial disasterous MTD idea. As I understand the purpose behind MTD was to know your tax liability in time What a hilarious situation. Treasury is looking for prompt payments from the tax payers. Yet not sending reminders but willing to waste more time and money with debt collecting management. No common sense with those highly remunerated policy makers.