Member Since: 3rd Sep 2012
29th Nov 2019
I had a client that was a takeaway selling sandwiches, salads and hot meals. Before HMRC knocked on his door they sat outside his shop on numerous occasions to count the split between hot and cold meals. His split was 80/20 cold to hot, HMRC's count was 80/20 hot to cold. How could they tell the difference? Hot stuff was carried out in a Styrofoam box, cold stuff in a paper bag. The colour drained from his face and his pants turned brown when they told him this. I also had to do a detailed analysis, line by line, for every purchase invoice for three month to analyse whether it was used for hot or cold food. Nice earner for me though, he had tax investigation insurance and the case went on for three years.
24th Oct 2019
22nd Oct 2019
If he is skint where do they think he is going to get £6000?
30th Sep 2019
Strangely enough that's exactly what I thought
9th Apr 2019
"suspicious activity reports not being raised when they should have been." - When they are raised no action is taken anyway. Several years ago I took on a new client after carrying out all of the appropriate checks. It very quickly became apparent he was running a scam company for work and child tax credits. After filing the SAR I rang the NCA for advice on how to kick the client into touch to avoid falling foil of "tipping off" the former client. They were no help whatsoever, and if anything had a **** you attitude, you sort it. I don't know if this case was ever investigated but I know he is still walking the streets and has never been contacted. I'm left feeling why bother going through all the irritation when no one else seems to care.
In this case I have got a rid of a client that was 100% bent and I'm glad to be shot. However, I don't think I should have to be judge, jury and executioner of a client and loose what could be a totally innocent client. Once the SAR has been reported I should be able to continue working with the client until they have been investigated and the NCA/HMRC or whoever tell me they are a wrongun.
22nd Aug 2018
"His original intention was to create two separate legal entities, the pub and restaurant trading as one entity, and the accommodation as another"
I think if he had separated the two businesses he would have potentially been in more bother had he thought he had two times the VAT threshold to hit. From what I can see HMRC would apply artificial separation rules.
7th Jan 2018
Three days into January and I have about 35 hours of SA left to complete the lot. For years now I have pushed to get as much done as I can between October - December. As you say though, there are the same diehards every year that will wait until the last minute and I can guarantee I will be pushing the button on my last one on the 31st.
Like you I am finding more clients wanting to jump the queue because of mortgages and loans etc. Historically I have always tried to accommodate these clients as one of our selling points is the service we offer and our speed to respond. However, time and time again it tends to be the same culprits that expect you to drop everything for them so this year I will continue fast tracking their work but I will charge them an additional fee for every hour worked. I suspect their work will not be so urgent when this is the case.
4th Jan 2018
I suspect that most accountants will struggle to program vba or sql unless they have an IT related degree.
What is even more worrying is accountants who's basic grammar is so bad they spell I'm as am. -"level of skills but am not sure..."
I would employ someone that can't program sql but wouldn't even interview someone that's spelling was so bad ;)
11th Apr 2017
For some strange reason when I make a post it sometimes appears numerous times!
10th Apr 2017
I'm not trying to be flippant with you James, but with HMRC:
So we can put in zero quarterly returns and not worry about the records until the end of the year then put the final accounts in?
So a lot of people once they realise this will stick to fingers up to MTD and more or less continue as usual?
"the reason, they say, for MTDfB is to ensure businesses record their transactions digitally." - presumably this includes manually inputting data into some digital media to report to HMRC. So its just as likely to be riddled with errors as the current method of... manually inputting data into a software package.
They seem to be creating a lot more work for all concerned for no real benefit.