Very useful summary, thank you. My concern is around the question of reduction of profits. Do we take into account the local authority grants received? I am assuming you would net off the CJRS against any wages in working out the profits but it is the LA amounts which worry me as many small businesses have had significant payments. I appreciate that you might consider that ethically you should not be looking for more money but that is a different argument and I want to know what the position is so that I know what to tell people! Any comments gratefully accepted.
Just picked up on this thread - I went to Global Gathering when I was 8 months pregnant and thought I had gone into labour half way through the night! This year am contenting myself with the annual pilgrimage to Glastonbury - but the day after the Budget is bad timing! I will just have to answer the calls from my clients on my mobile in a field of mud ...
I also attended a Learning Together workshop and would entirely agree with the previous posting. The other issue which emerged from that course was the severe limitation that HMRC are putting on the interpretation of the 'reasonable care' defence against the tax linked penalties.
I am going to start a new thread on the Compliance Check forum to see what practical experience our readers have got of the new regime if anyone is interested in joining in!
My answers
Very useful summary, thank you. My concern is around the question of reduction of profits. Do we take into account the local authority grants received? I am assuming you would net off the CJRS against any wages in working out the profits but it is the LA amounts which worry me as many small businesses have had significant payments. I appreciate that you might consider that ethically you should not be looking for more money but that is a different argument and I want to know what the position is so that I know what to tell people! Any comments gratefully accepted.
Birthing problems
Just picked up on this thread - I went to Global Gathering when I was 8 months pregnant and thought I had gone into labour half way through the night! This year am contenting myself with the annual pilgrimage to Glastonbury - but the day after the Budget is bad timing! I will just have to answer the calls from my clients on my mobile in a field of mud ...
Learning Together
I also attended a Learning Together workshop and would entirely agree with the previous posting. The other issue which emerged from that course was the severe limitation that HMRC are putting on the interpretation of the 'reasonable care' defence against the tax linked penalties.
I am going to start a new thread on the Compliance Check forum to see what practical experience our readers have got of the new regime if anyone is interested in joining in!
Draft guidance
Has anybody yet managed to access the draft rules from the Tribunals website? They do not seem to be there yet but you never know!