If they keep accurate records there is nothing stopping them paying the correct amount of tax.
Does it increase the possibility of fraud? Yes, but doesn't necessarily mean it is being committed. IMHO no reason for an AML report (on the basis your only evidence is they only accept cash).
In this day and age though they are just shooting themselves in the foot as most people don't walk around with cash.
To be fair, 190 days is a ludicrous timescale. Even when compared to HMRC. What could possibly take that long. Serves the FI right, if they didn't take the p1ss HMRC wouldn't have been given Cart Blanche like this.
So much of it's functionality is fundamentally broken once you scratch the surface.
I've recently started using Hubdoc for a charity client (that doesn't want to pay for Dext) and quite frankly it's appalling but we are "making do". I'd have thought after buying it that they would at least attempt to make the program a seamless integration to Xero.
Did Raveendran inform his mortgage company that the property was being held in trust? If so, wonder why this wasn't used as evidence to the existence of the trust*
If he didn't, and the mortgage company found out, would they have immediately demanded repayment of the loan?
The mortgage companies have (mostly) made it clear that they would not agree to be party to this arrangement. Don't see how this case says otherwise.
*I've not read the judgement, so apologies if it is covered there
One VAT rate. No exemptions. Applied to everything. Every business is VAT registered from day one, no deminimis threshold. B2B supplies are reverse charge by default. VAT reviews at least once every 3 years.
VAT fraud punishable by deportation to a Rwandan jail, convicts have to walk rather than be chauffeured by private plane (saving the planet and all that jazz).
My answers
Nothing illegal about paying in cash.
If they keep accurate records there is nothing stopping them paying the correct amount of tax.
Does it increase the possibility of fraud? Yes, but doesn't necessarily mean it is being committed. IMHO no reason for an AML report (on the basis your only evidence is they only accept cash).
In this day and age though they are just shooting themselves in the foot as most people don't walk around with cash.
To be fair, 190 days is a ludicrous timescale. Even when compared to HMRC. What could possibly take that long. Serves the FI right, if they didn't take the p1ss HMRC wouldn't have been given Cart Blanche like this.
IMHO good on HMRC, use them as much as possible.
Agree with the above. Xero has lost it's way.
So much of it's functionality is fundamentally broken once you scratch the surface.
I've recently started using Hubdoc for a charity client (that doesn't want to pay for Dext) and quite frankly it's appalling but we are "making do". I'd have thought after buying it that they would at least attempt to make the program a seamless integration to Xero.
Did Raveendran inform his mortgage company that the property was being held in trust? If so, wonder why this wasn't used as evidence to the existence of the trust*
If he didn't, and the mortgage company found out, would they have immediately demanded repayment of the loan?
The mortgage companies have (mostly) made it clear that they would not agree to be party to this arrangement. Don't see how this case says otherwise.
*I've not read the judgement, so apologies if it is covered there
Simples.
One VAT rate. No exemptions. Applied to everything. Every business is VAT registered from day one, no deminimis threshold. B2B supplies are reverse charge by default. VAT reviews at least once every 3 years.
VAT fraud punishable by deportation to a Rwandan jail, convicts have to walk rather than be chauffeured by private plane (saving the planet and all that jazz).
What is wild about this is that she has opened another accounting practice!
It's sad that this was the case not all that long ago.
I'd like to think that this attitude is now far less prevalent than it was previously.
We live in a capitalist economy.
What do you think is in your pension? It will be full of investments in business like utility providers, banks, shops, grocery stores....
All of which are maximizing their profits (so profiteering on "renters") to fund mostly pension funds.
Prices are pushed up by houses not being built, people not downsizing, WFH peeps on "non-local" wages...
Do your marginal rates take into account the "tax rebate" that they are getting when earning less than £50k?
As rmillaree says, it's not a tax. Its a clawback of benefits.
No, you didn't.
They just talk out their ar$e.