Member Since: 18th Mar 2015
25th Aug 2017
I second what Receipt-Bag said. The evidence is key here but if you have it I can't see these penalties standing provided all submission deadlines were met.
25th Aug 2017
I wouldn't say you've missed out here Moonbeam. It sounds like you'll have a lot more time to seek new business rather than deal with an aggrieved client.
27th Jan 2017
I've had a few through the post in the last few weeks but these only seem to be for individuals who have submitted their return in December.
Those who submitted earlier in 2016 don't appear to have received one.
25th Jan 2017
Hopefully the picture will become clearer (if possible) in the next few days when HMRC provide their response to the Consultation Documents. If they stick to their timetable, quarterly reporting will begin for non-exempt engagements for 18/19.
There are lots of blogs and information on various websites from accountancy practices, software providers and professional bodies so these should give you an idea how people are preparing for MTD.
23rd Nov 2016
I think that is all they were every planning on releasing. I was told by HMRC that they didn't want to make any mention to MTD so quickly after the consultation period as it would look like they had already decided what they were going to do regardless of the feedback provided and wanted to actually analyise the feedback from the consultation.
Whether we are to believe this or not is a different question but MTD featured as much as I expected in the Autumn Statement.
21st Sep 2016
Regrettably they are correct. All the information you need is on the .gov website when searching for voluntary NI contributions. As Trish said, you have to pay the Class 3 at today's rate.
24th Aug 2016
I suppose the current model you undertake lends itself to Making Tax Digital so if you're doing all the bookkeeping then you are always in the loop and can charge for a service.
Just be careful that when MTD comes in they don't find free software and do this on their own back. While doing bookkeeping for clients saves them a lot of hassle, if they can just photograph a receipt on their smartphone and it is automatically posted into their software I suspect that quite a few will go that way.
A number of my clients have already asked about free MTD software so it looks like a lot of businesses will be heading in this direction.
17th Aug 2016
I would say the you would have original cost + incidental costs of acquisition x RPI uplift.
SDLT is included as an incidental cost of acquisition.