Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Granny on October 28, 2022, 12:22:13 pm
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Who's ready not just the Vat boys but the rest of us smaller sole traders?
I can't believe what they are proposing ,it's mental.
The £10000 threshold is TURNOVER not profit.
The current personal allowance is £12500 so thousands if not millions will have to go through the hassle even if they have no tax liability and the expense of the software plus the learning of the software.
Makes me want to jack it all in. ???
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It’s a lot easier to work a bit harder and pay for someone to do it for you imo anything to do with comebacks on Tax etc I’d rather have it all done by a professional,if you ever get a pull you’ve got someone in you’re corner with you fighting.
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It’s a lot easier to work a bit harder and pay for someone to do it for you imo anything to do with comebacks on Tax etc I’d rather have it all done by a professional,if you ever get a pull you’ve got someone in you’re corner with you fighting.
An accountant won’t help out with a tax investigation unless he’s paid , you can take out insurance to cover it should the worst happen
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As above - if there is an error - your on your own the accountant won't help
join FSB or get an insurance policy to cover tax inspections
Darran
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Although I’m a member of the Fsb for about £150? A year (I think) , my accountant does offer insurance for investigations.
I’m just gonna leave it to my accountant to deal with (MTD).
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Hasn’t MTD got pushed back to 2024?
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Hasn’t MTD got pushed back to 2024?
Thanks Lee.
If you are self employed and not Vat registered that seems right.
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Hasn’t MTD got pushed back to 2024?
I wonder why?
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2024 is not far away. I plan to start using compatible software when the next tax year starts in April, so I get used to it and will be able to submit accounts as required the following tax year.
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It's a bit daft really, I am Ltd and when my accountant does my return he shows it me to sign. Lots of it I don't understand enough to say if it's correct so I'm relying on him to get it right although it's my head on the block if it isn't ??? Doesn't seem very fair .
I pay for tax investigation insurance can't remember how much it is.
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It's a bit daft really, I am Ltd and when my accountant does my return he shows it me to sign. Lots of it I don't understand enough to say if it's correct so I'm relying on him to get it right although it's my head on the block if it isn't ??? Doesn't seem very fair .
I pay for tax investigation insurance can't remember how much it is.
The accountant is only acting on the information you give him, it is this information that can be investigated if something isn’t right, not what the accountant might or might not do. Being a one man band I wouldn’t pay for tax insurance investigation. I mean how much can a one man band be expected to turnover in a financial year? If you are declaring 40k plus turnover what is there for a tax inspector to investigate?
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It's a bit daft really, I am Ltd and when my accountant does my return he shows it me to sign. Lots of it I don't understand enough to say if it's correct so I'm relying on him to get it right although it's my head on the block if it isn't ??? Doesn't seem very fair .
I pay for tax investigation insurance can't remember how much it is.
The accountant is only acting on the information you give him, it is this information that can be investigated if something isn’t right, not what the accountant might or might not do. Being a one man band I wouldn’t pay for tax insurance investigation. I mean how much can a one man band be expected to turnover in a financial year? If you are declaring 40k plus turnover what is there for a tax inspector to investigate?
I know but what I mean is if I give him all the correct information but he does some calculation wrong and therefore files incorrect accounts.
For example in my recent set of accounts there was an error which i spotted and he rectified. But what if there was something I didn't spot ? At the end of the day I've signed it off.....
I think I pay £10 a month for insurance, peace of mind is worth it.
I'm not sure what turnover has to do with it ?
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I got investigated 20 years or so ago. I am just a sole operator not earning mega bucks.
I had not done anything wrong nor could HMRC prove I had, not a pleasant experience though.
I had stopped using an accountant prior to this and just represented myself.
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It's a bit daft really, I am Ltd and when my accountant does my return he shows it me to sign. Lots of it I don't understand enough to say if it's correct so I'm relying on him to get it right although it's my head on the block if it isn't ??? Doesn't seem very fair .
I pay for tax investigation insurance can't remember how much it is.
The accountant is only acting on the information you give him, it is this information that can be investigated if something isn’t right, not what the accountant might or might not do. Being a one man band I wouldn’t pay for tax insurance investigation. I mean how much can a one man band be expected to turnover in a financial year? If you are declaring 40k plus turnover what is there for a tax inspector to investigate?
I know but what I mean is if I give him all the correct information but he does some calculation wrong and therefore files incorrect accounts.
For example in my recent set of accounts there was an error which i spotted and he rectified. But what if there was something I didn't spot ? At the end of the day I've signed it off.....
I think I pay £10 a month for insurance, peace of mind is worth it.
I'm not sure what turnover has to do with it ?
As a one man band with supporting evidence that you are a one man band, turnover has a lot to do with whether you will be investigated or not.
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I got investigated 20 years or so ago. I am just a sole operator not earning mega bucks.
I had not done anything wrong nor could HMRC prove I had, not a pleasant experience though.
I had stopped using an accountant prior to this and just represented myself.
Did they tell you why you were being investigated? There must have been some kind of anomaly that led to you being investigated?
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Algorithms they haven’t got the staff.
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We went MTD 3 or 4 years ago and was very daunting at the time! But once you get use to which ever software you choose it is really easy to do/use (so I’m told wife does it ;D)
At the time there was not much choice around for us so chose QuickBooks.
I’d say look at all the software options and choose the best for you (I think some of the window cleaning software does MTD) and get it setup well before the deadline.
It has made doing the books so much easier and we don’t even need to take stuff to the accountant! We send them an accountant link and they can log in and see our books and do their thing.
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It's a bit daft really, I am Ltd and when my accountant does my return he shows it me to sign. Lots of it I don't understand enough to say if it's correct so I'm relying on him to get it right although it's my head on the block if it isn't ??? Doesn't seem very fair .
I pay for tax investigation insurance can't remember how much it is.
The accountant is only acting on the information you give him, it is this information that can be investigated if something isn’t right, not what the accountant might or might not do. Being a one man band I wouldn’t pay for tax insurance investigation. I mean how much can a one man band be expected to turnover in a financial year? If you are declaring 40k plus turnover what is there for a tax inspector to investigate?
I know but what I mean is if I give him all the correct information but he does some calculation wrong and therefore files incorrect accounts.
For example in my recent set of accounts there was an error which i spotted and he rectified. But what if there was something I didn't spot ? At the end of the day I've signed it off.....
I think I pay £10 a month for insurance, peace of mind is worth it.
I'm not sure what turnover has to do with it ?
As a one man band with supporting evidence that you are a one man band, turnover has a lot to do with whether you will be investigated or not.
At least some portion of HMRC investigations are random....
But that's not what I meant.
I mean if you are investigated what does it matter what turnover you have you still have to pay accountant fees and insurance will cover that.
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You don’t need anyone with you if your investigated - however if you can’t answer/justify their queries you will just have to take it on the chin and pay out what they say you owe
Darran
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Yeah and there’s a huge amount of terrible Accountants about also I was using a company that was charging me a ridiculous amount just to basically fill in a self assessment form,when I went to a decent one I was informed that they hadn’t included wages and business assets that I should have had relief on.
Within 3 months of being with a decent accountant he got me 6k put back in my bank,so it’s worth finding a good one.
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Who's ready not just the Vat boys but the rest of us smaller sole traders?
I can't believe what they are proposing ,it's mental.
The £10000 threshold is TURNOVER not profit.
The current personal allowance is £12500 so thousands if not millions will have to go through the hassle even if they have no tax liability and the expense of the software plus the learning of the software.
Makes me want to jack it all in. ???
I wouldn't worry too much about it yet, already put back (and possible more civil service cut backs round the corner) and by then it's quite likely we'll have a new Government in who will have different priorities re tax.
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I got investigated 20 years or so ago. I am just a sole operator not earning mega bucks.
I had not done anything wrong nor could HMRC prove I had, not a pleasant experience though.
I had stopped using an accountant prior to this and just represented myself.
Did they tell you why you were being investigated? There must have been some kind of anomaly that led to you being investigated?
No. I did just represent myself, you do not need to employ an accountant. It was more about matching my income with life style expenses (mortgage, other bills etc) and they checked through my calculations for income and business expenses.
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I got investigated 20 years or so ago. I am just a sole operator not earning mega bucks.
I had not done anything wrong nor could HMRC prove I had, not a pleasant experience though.
I had stopped using an accountant prior to this and just represented myself.
Did they tell you why you were being investigated? There must have been some kind of anomaly that led to you being investigated?
No. I did just represent myself, you do not need to employ an accountant. It was more about matching my income with life style expenses (mortgage, other bills etc) and they checked through my calculations for income and business expenses.
Sounds like dazmond might get a visit with his luxury life style on social media 😂😂😂😂
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If you went to Tenerife you just know Dazmond would have been to Elevenerife!
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If you went to Tenerife you just know Dazmond would have been to Elevenerife!
;D ;D ;D ;D
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Who's ready not just the Vat boys but the rest of us smaller sole traders?
I can't believe what they are proposing ,it's mental.
The £10000 threshold is TURNOVER not profit.
The current personal allowance is £12500 so thousands if not millions will have to go through the hassle even if they have no tax liability and the expense of the software plus the learning of the software.
Makes me want to jack it all in. ???
I wouldn't worry too much about it yet, already put back (and possible more civil service cut backs round the corner) and by then it's quite likely we'll have a new Government in who will have different priorities re tax.
What worries me more is, if they are grabbing in the net those who are turning over less than any possible tax liability it's nothing to do with taxation.
To me the agenda is cashless society and getting their snooping tentacles into your bank account.
As far as I understand it the software gives HMRC integrated access to all payments made into your account.
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Who's ready not just the Vat boys but the rest of us smaller sole traders?
I can't believe what they are proposing ,it's mental.
The £10000 threshold is TURNOVER not profit.
The current personal allowance is £12500 so thousands if not millions will have to go through the hassle even if they have no tax liability and the expense of the software plus the learning of the software.
Makes me want to jack it all in. ???
I wouldn't worry too much about it yet, already put back (and possible more civil service cut backs round the corner) and by then it's quite likely we'll have a new Government in who will have different priorities re tax.
What worries me more is, if they are grabbing in the net those who are turning over less than any possible tax liability it's nothing to do with taxation.
To me the agenda is cashless society and getting their snooping tentacles into your bank account.
As far as I understand it the software gives HMRC integrated access to all payments made into your account.
You know that vat registered companies are already required to use the MTD software so it’s not going to be a new thing…
Unless your getting payments into your account and then hiding it or being dishonest / not declaring. Then I don’t think you have to worry about hmrc seeing the payments in your bank account going in from customers.
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If you went to Tenerife you just know Dazmond would have been to Elevenerife!
😆😆
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Does anyone with any taste go to Tenerife these days then hardly the place you’d choose for a relaxing holiday let’s be honest,last time I went there in the 90s it was a shaggerthon that was about it.
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Good old Nigel - missing the point of the post 🤣🤣🤣
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Good old Nigel - missing the point of the post 🤣🤣🤣
😂😂
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Does anyone with any taste go to Tenerife these days then hardly the place you’d choose for a relaxing holiday let’s be honest,last time I went there in the 90s it was a shaggerthon that was about it.
Would suit daz down to a tee then. Top shagger that he is
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Does anyone with any taste go to Tenerife these days then hardly the place you’d choose for a relaxing holiday let’s be honest,last time I went there in the 90s it was a shaggerthon that was about it.
He went to the Maldives.
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Does anyone with any taste go to Tenerife these days then hardly the place you’d choose for a relaxing holiday let’s be honest,last time I went there in the 90s it was a shaggerthon that was about it.
He went to the Maldives.
Really? When was this? He managed to keep that quiet😁
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What worries me more is, if they are grabbing in the net those who are turning over less than any possible tax liability it's nothing to do with taxation.
To me the agenda is cashless society and getting their snooping tentacles into your bank account.
As far as I understand it the software gives HMRC integrated access to all payments made into your account.
If it's anything like the VAT return all you give them is a quarterly total of turnover and expenses. Not quite Big Brother is watching you.
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Hello xxxxxx,
Yesterday the government announced that the first phase of Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) will not be mandated until April 2026.Prior to this announcement, the mandatory use of software to remain compliant was set for April 2024.
Seems they are really struggling to get this sorted.
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Hello xxxxxx,
Yesterday the government announced that the first phase of Making Tax Digital (MTD) for Income Tax Self Assessment (ITSA) will not be mandated until April 2026.Prior to this announcement, the mandatory use of software to remain compliant was set for April 2024.
Seems they are really struggling to get this sorted.
Good ;D
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https://www.gov.uk/government/news/government-announces-phased-mandation-of-making-tax-digital-for-itsa
It's all changed for the better now. New date of 2026 is only for income of 50K plus.
30K - 50K the start date is even later of 2027.
Those under 30K is still under discussion.
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Yeah I bet the ones under 30k are under discussion lol,what they cleaning a few shops then home every day by 10.
Hopefully when the time comes that they can prove what window cleaners really earn most of us will be long gone lol,I had a customer that was a tax officer back in the 90s he told me we know exactly what goes on,of course we know but trying to catch people is like having a massive net of fish with 1000s in it and having just 2 minutes to sift through to find the golden one.
He always used to pay me cash he was a nice bloke from the things I’ve heard in the past from good sources the bloke that buys you that one pint that tips you over is the same one calling the old bill,friends close and enemies closer and all that.
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Yeah I bet the ones under 30k are under discussion lol,what they cleaning a few shops then home every day by 10.
Hopefully when the time comes that they can prove what window cleaners really earn most of us will be long gone lol,I had a customer that was a tax officer back in the 90s he told me we know exactly what goes on,of course we know but trying to catch people is like having a massive net of fish with 1000s in it and having just 2 minutes to sift through to find the golden one.
He always used to pay me cash he was a nice bloke from the things I’ve heard in the past from good sources the bloke that buys you that one pint that tips you over is the same one calling the old bill,friends close and enemies closer and all that.
I used to work in the civil service for a while and did a stint in the benefits office, the benefits fraud squad consisted of two blokes who covered an enormous area and they relied almost entirely on the phone ringing and family / "friends" dobbing in big mouths who just had to boast to the rest of the world what they were upto instead of keeping quiet. That and idiots who were just so thick they basically grassed themselves up. We had one prat who came in to sign on and was was asked "have you done any work" to which he replied "no" . He was wearing a baseball cap with a local companys logo written on it, green overalls ,again with the companys logo on it, and a fetching pair of white wellies ,again with the logo on the side of it. :)
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How are they going to keep track
Or will I have to upload cleanerplanner reports
To them will that be enough
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Hasn’t MTD got pushed back to 2024?
I wonder why?
Like the spending cuts promised by The Hunt, they could be passing the burden onto Labour. A lot of Tories know they are on borrowed time and it will no longer be their problem, if that is the case.