Another fallacy of accelerated tax payments is that it increases tax 'income'.
No it doesn't, it generates a one-off cash injection and then government cashflow reverts back to the previous level.
The trouble is the government is tax junkie, give them an extra 'fix' and they need the supply to be permanent; that means tax increases.
£262K for an organisation the size and complexity of HMRC? They must spend more on coffee and biscuits than that!
Non-payment: they sue you under contract as you accepted the t&c as part of your membership.
Online tax account? I don't think I have one never mind the clients. And if the clients are all on furlough who is going to open the post to get the codes so payroll clients can be set up.
It looks like the 'spinning' is already starting to restrict the scheme. Someone has briefed the press that the CJRS is going to cost five times the initial estimate according to an item on the radio this morning.
The announcement is massively better than nothing but if someone is running a proper 'firm' the issue is cashflow. Customers/clients are stood down and loathe to commit, work coming in has dried up but the rent needs to be paid etc. You can furlough the staff and even if you start with cash in the bank how long will it last? Drawings may only be a modest part of cash outgoings.
As for the £50k, one client does events, did OK last year so doesn't qualify for a bung but his formerly full diary is now empty. Universal Credit...
If memory serves the coup attempt was 'conduct likely to bring the institute into disrepute'. It was reported in Accountancy Age (Taking Stock page on the back) that throughout his career he had just carried on paying his subscription and nobody had noticed; at least until the highjack!
And all this time everyone is fully occupied 'managing change' nobody has any time to deliver product to the paying customer.
In the next breath some government wonk is banging on about the poor growth in GDP; anybody in government bright enough to figure they are the partly responsible?
Surely if Chavistas get voted in (even if it is by accident) this will so depress asset prices no one will be paying IHT, LGT or similar in any case. And the CGT take will similarly implode.
No cause for concern about their tax proposals, no one will make a profit to tax!
One wonders what would happen if the manufacturer fitted some 'bayonet' load mounting points but would not supply seats ex factory? You could buy them as a dealer option but never as a factory option. As install/removal time would be a few minutes it would be hard to argue the vehicle has been adapted in any way.
(One of our clients has a 'commercial' Disco and a pack of parts which will go with it come the time to sell.)
Anyone else been dumped with an incomplete records accounts job where the proprietor used the contactless card on his business account for every single trivial transaction, largely non business. Page after page of bank statements with masses of small transactions, big accounts bill and hideous bank charges!
It is too easy, he said I don't need to record the transactions because they are all on the bank statements...
I said quite a lot!