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Yes, I would have voted Brexit if I had known it would torpedo MTD!
Actually, I did hoping it would!
Anything to throw a spanner in the works of statist meddling with things they are intellectually incapable of understanding.
mr. mischief wrote:
Yes, I would have voted Brexit if I had known it would torpedo MTD!
Actually, I did hoping it would!
Anything to throw a spanner in the works of statist meddling with things they are intellectually incapable of understanding.
I did too.
I voted brexit because we couldn't deport a national security threat and our country doesn't have the infrastructure to handle 300,000 net immigrants every year and the EU sticking their noses in where it's not wanted just cos they can etc.etc.etc. However the postponement of MTD would be the icing on the cake.
Brexit, the snow...there is always something to blame for one's failings. Thing is, a lot of people don't care why a person has failed - only that they have. It really is much easier just to succeed and go off and celebrate while the failures stammer out their excuses. Sean Connery put it better in The Rock
Well, well, well. Is this something we weren't aware of?
HMRC do now have a face saving opportunity so do what we have all been saying and that is not to make MTD mandatory and bring it in over the next 5 - 10 years. So Mel, balls in your court. I like Sean Connery but I prefer Dwayne Johnson.
HMRC's MTD excuses are still about as convincing as the reasons you gave for not handing in your homework.
"Write 100 lines - I must not blame Brexit for my own failings."
Brexit , govt. cuts to HMRC staffing , inability to engage contractors owing to IR35 legislation , absurd dumb stupidity with MTD in the first place; Jon Thompson could have got his retaliation in first with a number of excuses.
“Our assessment is that if these changes are agreed then the resultant portfolio is deliverable, with appropriate level of risk. Also, that we have the capacity and capability to deliver it, or can obtain those capabilities in an appropriate timescale.”
This is a very important comment by Thompson. What on earth is an appropriate level of risk? Either a system works in accordance with the law or it doesn't. The taxpayer , and by extension their agents, are supposed to get everything 100% right with the onset of MTD, but HMRC thinks that there is a risk that things can go wrong from their own perspective. Forget the whole thing, don't just even delay it for 5-10 years! Get your house in order and fit for purpose before contemplating this horrendous change to record keeping. And show a bit of respect to the taxpaying public (and accountants).
....and still no news for all those smaller businesses (VAT Regd with turnover over around say £100K to £250K) who rely on spreadsheets (and does anyone at HMRC realise how may thousands there are out there!).
Yes HMRC are committed to allowing use spreadsheets to continue but are 'still in discussion' with software providers to come up with a solution ('bridging software'). None yet exists - we accountants will need some time to assess it when it does come on the market, before we can advise clients what to do, before they can get familiar with it .... and all ready for MTD for VAT implementation April 2019!! Or do we have to assume HMRC will renege on their commitment re spreadsheets and force all our smaller clients onto Sage, Xero et al asap (which are not always a better solution for those clients).
The article shows two dates are they for the same MTDfB?
"The forecast for MTD for VAT would appear murky. The multi-year project has a well-documented history of being beset by delays. Mandatory quarterly reporting was earmarked to start this month - April 2018 - but was delayed in 2017 until “at least 2020”"
“MTD will be mandated for VAT for those businesses with income above the VAT threshold from April 2019, as planned. Preparations for MTD are progressing well, with pilots underway for both VAT and Income Tax,” they said."
I think it's a foregone conclusion that mandatory MTD will not be brought in for the under £85k mob until the vat MTD is running properly - I'm pretty sure Mel said that somewhere.
The pilot voluntary MTD for under £85k started this month and agents have been urged to take part. The seminars that HMRC are doing at the moment are really interesting cos reading between the lines they are highlighting the difficulties that business will be facing. The one that springs to mind is the software and cost. Will affordability be a reasonable excuse for not joining?
Why has it taken them this long to work out they may have an awful lot of work to do around Brexit? Are they all on a different planet?
Why has it taken them this long to work out they may have an awful lot of work to do around Brexit? Are they all on a different planet?
I am waiting to see the fiasco that MTD produces. There will be excuses dressed up as 'explanations' and it will always be some other beggar's fault.
One thing we accountants have learnt, or should have - IT and HMRC are like oil and water. I bet it will be a good few years before MTD is in an acceptable form.