I was intending to quit in another two years anyway, by then aged 74. Of course I am aware of MTD but in my poor health condition I cant image how I would cope with quarterly updates and doing previous year submissions anyway. I have difficulty getting clients to give me their paperwork once a year at the moment. This is all all about making money for the software companies, the current system works perfectly well
for very small clients.
I just been on HMRC website, it states quite clearly if my income from self empl0yment
above £10000 I have to register for MTD. My income from this source is below £10000.
Other income is pension only. Problem solved!
I do use Taxfiler but only for company clients at the moment. The problem is I have to also pay HMRC for Money laundering regulations. I tried to register for MTD but
this prevented me as I have to pay them around £300 for this.
Thanks David for your sympathetic reply. I only have 2 clients for VAT so I don't mind losing them. The rest(24) are mainly self employed under £30000 turnover. I am just a sole trader working from home, not an organisation. Tried going the ASA route, wont let me without AMLR, will not let me either. I think I will go the retirement route from 31 March 2022, for me at 72 years old. This is just forcing small guys like me out of business, since I have been an agent for my clients for the
last 26 years.
Are you sure about writing it down, I thought building did not attract depreciation.
Can a capital allowance be claimed or not. I assume not. So the plan is too capitalise £100, 000 spent under buildings in balance sheet. and write down say over 20 years.
Then get a solicitor experienced in land law to prepare the appropriate documents as Michael advised.
My answers
I was intending to quit in another two years anyway, by then aged 74. Of course I am aware of MTD but in my poor health condition I cant image how I would cope with quarterly updates and doing previous year submissions anyway. I have difficulty getting clients to give me their paperwork once a year at the moment. This is all all about making money for the software companies, the current system works perfectly well
for very small clients.
I am age 72, with Parkinsons Disease and Spinal Stenosis with Trapped Nerve
Gross income-Turnover
I just been on HMRC website, it states quite clearly if my income from self empl0yment
above £10000 I have to register for MTD. My income from this source is below £10000.
Other income is pension only. Problem solved!
I do use Taxfiler but only for company clients at the moment. The problem is I have to also pay HMRC for Money laundering regulations. I tried to register for MTD but
this prevented me as I have to pay them around £300 for this.
Thanks David for your sympathetic reply. I only have 2 clients for VAT so I don't mind losing them. The rest(24) are mainly self employed under £30000 turnover. I am just a sole trader working from home, not an organisation. Tried going the ASA route, wont let me without AMLR, will not let me either. I think I will go the retirement route from 31 March 2022, for me at 72 years old. This is just forcing small guys like me out of business, since I have been an agent for my clients for the
last 26 years.
I am not breaking the law, HMRC granted me Exemption from MTD
due to my medical condition.
I am not breaking the law, HMRC granted me Exemption from MTD
due to my medical condition.
Really? I completed a 64-8 Agent Authorisation for all VAT clients many years agoo.
Are you sure about writing it down, I thought building did not attract depreciation.
Can a capital allowance be claimed or not. I assume not. So the plan is too capitalise £100, 000 spent under buildings in balance sheet. and write down say over 20 years.
Then get a solicitor experienced in land law to prepare the appropriate documents as Michael advised.
Many thanks