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http://www.telegraph.co.uk/finance/your … lures.html
and the official document …
http://customs.hmrc.gov.uk/channelsPort … OD1_030901
Jeremy
Re: HMRC Latest brain wave
Where will it all stop ? This Goverment as well as the recent outgoing lot seem to have spent a lot of time working out ever more ways of taking money from the self employed and Small Businesses.
Accountants we are not but its a sure thing that if this new slant goes ahead they will descend on many small business and find something wrong not born of a deliberate mistake but brought about by lack of knowledge or ignorance.
Its disgraceful to say the least and why the politicians and banks evade payment of tax and fiddle the numbers the small business is a easy target just like the long suffering motorist!When are we all going to wake up and tell them to get stuffed, the french do it we just sit back and suffer it. It starts to make you think seriously if being self employed and running a business in Great Britain is a worthwhile venture. Perhaps it would be better to have a nation of indigenous scroungers who do not work and claim with moonlighting on the side with no books to audit !
Its enough to drive you to despair !
Re: HMRC Latest brain wave
Yes very annoying when the super rich like Philip Green use every trick in the book to avoid paying tax.
Us Brits just seem to take this on the chin unlike the French who protest. Imagine if everyone in the UK stopped buying clothes from Greens stores for just one week, maybe this would make him think!Graham
Re: HMRC Latest brain wave
You have little or nothing to fear if you fill in your Self Assessment Form in correctly and pay your tax demand in full and on time. Just play it their way and no-ones gonna come knockin’ on your door. 😉
Re: HMRC Latest brain wave
Thats not what this new scheme is about ! the scheme clearly states the revenue will be looking at as many as 40{e5d1b7155a01ef1f3b9c9968eaba33524ee81600d00d4be2b4d93ac2e58cec2d} of all Small Businesses even where returns and payments are on time. The object of this is to ascertain if they can get more Tax out of you by uncovering errors in paperwork, receipts and items not purely for your business and a whole raft of other tricks, there out to make money and although we follow procedures which have satisfied the revenue thus far they will be looking at all businesses
Be prepared !
Re: HMRC Latest brain wave
appears that :-
1) they want to get more tax by looking at the way paperwork is done then they can issue a deeper investigation if they think there is some anomilies. They will claim otherwise but who would trust them ?!?!?
2) they are public servants creating themselves jobs and to safe guard their pensions etc, our taxes going to fund this nice little operation they are cooking up!Actually 1 and 2 could be reversed and be just as likely.
how i have done my accounts/books for the last 25 yrs has been more than satisfactory for my accountant to generate balance sheets/self assesments etc from but what they are now proposing is it wont be enough. Im not an accountant hence why i pay one, im sure they are going to be bemused as much as everyone else. those that dont use an accountant might be more open to them sticking their ore in. 40-50k sme pa they will want to look at and i dont know but it could be the smaller business they will really want to target as we are easier prey.
Re: HMRC Latest brain wave
Martin wrote:You have little or nothing to fear if you fill in your Self Assessment Form in correctly and pay your tax demand in full and on time. Just play it their way and no-ones gonna come knockin’ on your door. 😉
tell that to the person hung out to dry for paying more than they should have done to hmrc, who took legal action for falsifying figures, and the ensuing cost of legal representation was the cause of his businesses collapse
it was in the mail this year just before the election
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