As much as 'morally' keeping the clearly ill gotten gains is the 'right' thing to do, what is the point of a tight time limit if HMRC fail to meet it and can start the clock again
Sounds like the courts trying to do the 'right' thing but maybe not letter of the law, which sounds like how hmrc normally operate!!
Passing an exam does not a moral, fit for purpose person make:)
Ive had a few dubious bosses over the years and you only need to look at the weekly multi million pound fines issued to 'big firms' for there failings (greed)
Vanity project and lack of honesty. Basically the goal is to then collect tax earlier. Improve what we have and bring payments and payments on account earlier and everyone will win
In fairness to the taxpayers, I reckon 7/10 ask me about the mortgage as a deduction, and their wee faces drop when I explain! So if a 'professional' says its ok, I wouldn't think unreasonable for taxpayer to go with it
Sort of thing that should really be passed to any association said 'professional' is linked with
I assume HMRC are now looking at all tax returns he has submitted
Its wrong and clearly fraud, but the small company basic salary and dividend folk were worst affected by the grants - self employed and employees got 80%, those on £10k salary and £20k dividends, got 80% of the £10k and most either failed or are still paying back the loans they had to get to survive (and the BBL wasnt allowed for dividends as well)
Nonsense!!
It is driven by the need to get tax in the door quicker. Just be honest, then by all means change to calendar year and 6 months to get returns in, then monthly POA's and you save hundreds of thousands of small business extra grief
There is no right or wrong answer here, the way of the world these days that a different view is wrong and must be stamped out is quite sad.
I like timesheets and although I don't know the unit price at starbucks, I know they will, and being called old fashioned or not moving forward is fine by me.
My experience of no timesheet firms is that they charge significantly more and at some points client realise that and move on
Sadly not that uncommon from HMRC. Most have never worked in the real world and have all these fabulous averages and statistics to prove taxpayer is under declaring (there starting position). There have even been a few who have paid relatively small assessments that they are adamant are incorrect, but life is too short and some (not all) inspectors are unreasonable and from what I can see unaccountable.
Just completed an enquiry where clients records where shocking (previous agent told them no need to keep records, just tell them what she made!). One taxpayer with employees, original assessment over £300,000 and inspector happy to take to tribunal. Two and a half years later £30k, which was our original figures based on means test. Said inspector promoted 2 months before end of case.
If I make that big a mess, I am reprimanded at least, civil servant promoted out of the way!!
My answers
As much as 'morally' keeping the clearly ill gotten gains is the 'right' thing to do, what is the point of a tight time limit if HMRC fail to meet it and can start the clock again
Sounds like the courts trying to do the 'right' thing but maybe not letter of the law, which sounds like how hmrc normally operate!!
Passing an exam does not a moral, fit for purpose person make:)
Ive had a few dubious bosses over the years and you only need to look at the weekly multi million pound fines issued to 'big firms' for there failings (greed)
Vanity project and lack of honesty. Basically the goal is to then collect tax earlier. Improve what we have and bring payments and payments on account earlier and everyone will win
HMRC replied: “A spreadsheet is an easy way to record the necessary details, both for agents and for HMRC, so we can help people get their tax right.”
Can this be forwarded to the MTD colleagues:)!
In fairness to the taxpayers, I reckon 7/10 ask me about the mortgage as a deduction, and their wee faces drop when I explain! So if a 'professional' says its ok, I wouldn't think unreasonable for taxpayer to go with it
Sort of thing that should really be passed to any association said 'professional' is linked with
I assume HMRC are now looking at all tax returns he has submitted
Its wrong and clearly fraud, but the small company basic salary and dividend folk were worst affected by the grants - self employed and employees got 80%, those on £10k salary and £20k dividends, got 80% of the £10k and most either failed or are still paying back the loans they had to get to survive (and the BBL wasnt allowed for dividends as well)
Nonsense!!
It is driven by the need to get tax in the door quicker. Just be honest, then by all means change to calendar year and 6 months to get returns in, then monthly POA's and you save hundreds of thousands of small business extra grief
There is no right or wrong answer here, the way of the world these days that a different view is wrong and must be stamped out is quite sad.
I like timesheets and although I don't know the unit price at starbucks, I know they will, and being called old fashioned or not moving forward is fine by me.
My experience of no timesheet firms is that they charge significantly more and at some points client realise that and move on
Each to there own, but I am keeping timesheets
Dividend tax is essentially NIC under another name
Sadly not that uncommon from HMRC. Most have never worked in the real world and have all these fabulous averages and statistics to prove taxpayer is under declaring (there starting position). There have even been a few who have paid relatively small assessments that they are adamant are incorrect, but life is too short and some (not all) inspectors are unreasonable and from what I can see unaccountable.
Just completed an enquiry where clients records where shocking (previous agent told them no need to keep records, just tell them what she made!). One taxpayer with employees, original assessment over £300,000 and inspector happy to take to tribunal. Two and a half years later £30k, which was our original figures based on means test. Said inspector promoted 2 months before end of case.
If I make that big a mess, I am reprimanded at least, civil servant promoted out of the way!!