Member Since: 18th Jun 2009
3rd Aug 2020
With the new requirement about state aid, every client needed to submit an EPS in the new the tax year to claim EA, whereas in previous years the EA claim was rolled over each year from the first EPS ever submitted.
So we submitted an EPS for all clients as part of the start up of the new tax year. Also, the HMRC guidance on CJRS claims states that the NI claim has to be adjusted for EA. There is nothing I could find that says, "unless you have delayed claiming". In any case how do you delay a claim once submitted?
24th Apr 2020
I am concerned about trades that provide emergency services like plumbers and electricians. If they are self employed they get a grant that covers three months profit, so that will help. If they are employed by their own limited company, they can't furlough themselves or apply for Universal Credit, so zilch received when most of their turnover has gone.
I also think the small business grant of £10000 was a blunt and generous instrument. These businesses typically pay £1000 per month in rent and maybe some equipment leases, lets say £500 per month, so the grant will cover 6 months. And as they are closed they can furlough all staff including themselves.
The contrast in the support for the three groups above is astonishing.
27th Jun 2019
www.capsa.co.uk is my website and there is a video of sorts there. It was created by my website developer to much fanfare. No one has ever commented on it and I don't actually like it that much. As I am well on the way to retirement and not taking on new clients, I have not bothered to get it changed. I believe it was created on Youtube and all my website does is link to it.
25th Jun 2019
I did this once for a client with some buy to let properties and I won't be doing it again, for the same reasons as others have posted. I wonder now how they coped with the change in allowable interest over the last few years? Their records needed work when I took them over and did the bookkeeping. I suspect they just reverted to what they were doing previously. Ho hum!
7th May 2019
I have had this too and was being asked to fax over some information along with a 64-8 or they wouldn't speak to me. I provided the information and insisted the online approval was enough. I was then emailed to say it wasn't, so in my response I quoted their own text back at them as quoted by the OP. I got a very grudging acceptance, "on this occasion only". It is ridiculous that they act like this and I have only ever come across it this once with VAT.
2nd May 2019
I use Liberty Accounts for charities. I know that is not the OPs question, but it has been developed specifically for the sector and should be looked at as well as the big players.
21st Mar 2019
I have just spent time putting a church on to Liberty Accounts. Not only does it cope with Fund and Activity accounting, it also has online Gift Aid and standard Church reports as well as complying with the Charities SOFA. I have used it for two other charities, but it has been particularly developed for church accounting.
27th Feb 2019
Your response is the correct one - advising both directors impartially, otherwise you have a conflict of interest. That does not prohibit having separate meetings, nor does it preclude having others being present, provided the content of both meetings is limited to matters related to the company accounts and they are conducted in the best interests of the company. I think you have to stand your ground on this, because you cannot be seen to be biased. Good luck with resolving a difficult situation.
22nd Feb 2019
I signed up our practice for MTD for VAT at on 20th February and haven't yet been accepted by HMRC into the pilot. I want to sort our own registration, so I know what will be needed for each client. I am not talking about the Agent registration - I have already done that, but our individual VAT Registration. I don't understand why signing up is so time consuming. Why can't it all be immediate like it is with any online retailer? I don't get why you have to fill in your VAT Registration Date, Box 5 from Last VAT Return and VAT Post Code, when they know all this already. HMRC will argue it is for ID purposes, but all they need is the VAT number to match it with their records. No one is going to register unless they really have to and the opportunity to commit fraud is non existent. I will have to look out this information for each client and talk them through registering, because most won't have this information to hand. Verifying an email address is part of the process and this is all most online services ask for. It should be enter VAT number, Verify email address - job done.
21st Feb 2019
I changed from TaxCalc to Taxfiler about 5 years ago and have never regretted it. Taxfiler is excellent and copes easily with CT Returns for accounts covering longer than 12 months. Another poster has confirmed the time apportionment feature, but it can be edited too, so it is quite flexible. I can't comment on the current position with TaxCalc, because I am aware that like Taxfiler, the product has been enhanced over the intervening years.