The whole point of the thing isn't just small firms - it's a quarterly tax return for EVERYBODY by the backdoor.
They will make people pay taxes quicker - no more 21 months delay for the revenue from the point (of say) dividends received, now the tax will be due 3-4 months past the payment date, massive difference.
The whole reason why they forced monthly PAYE reporting is to enable this thingy to work for everybody.
Soon cash won't be legal and electronic money won't be counted as money unless they got cleared through HMRC first.
You heard it on here first...
They will make people pay taxes quicker - no more 21 months delay for the revenue from the point (of say) dividends received, now the tax will be due 3-4 months past the payment date, massive difference.
The whole reason why they forced monthly PAYE reporting is to enable this thingy to work for everybody.
Soon cash won't be legal and electronic money won't be counted as money unless they got cleared through HMRC first.
You heard it on here first...
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