Originally posted by DaveB
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1134 onwards - quarterly tax returns. HMRC are listening, but everyone has misunderstood what they are proposing. Most businesses already have all the information every month or quarter anyway so it's just a case of telling HMRC. There won't be much work to do because it'll be a case of checking the figures that HMRC already have from various sources - including banks (not sure how, or why, or what consent is required here though!)
Accountants afterwards said that compulsory digital accounts is very concerning, not everyone uses digital things. Yes, businesses keep records but this shows a fundamental lack of understanding in how some businesses operate (with examples). Another accountant said quarterly returns showed a "fundamental naivety" about it all - there are nearly 5 million micro businesses and HMRC are clearly not listening to them.
After that, there was a bit about dividend tax for a guy who owns the company, splits with his wife, pays £30k each in dividends each year, and what did it mean for him. He hadn't been using his company for a few years, only started using it properly recently, and it'll hit him.
Think that was about it.
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