Petition..Scrap plans forcing self employed & small business to do 4 tax returns

deadkenny +1

Yes, but the main reason the Govt is doing these kind of projects is to SAVE it’s money, and make IT more efficient.

OK so as an alternative – would you rather they just put 0.5% extra on your tax bill so they can remain inefficient and you can also continue to run your business finances in an adhoc method that makes completing a web form a nightmare?

I’d like to see the ‘As Is’ & ‘To Be’ processes where it looks from our perspective, and our costs.

Thats kind of my point – there is to be a full consultation on the detail in due course. Getting outraged now seems rather futile when we don’t know what it is that will be outrageous. Its likely that even HMRC haven’t worked out the full detail yet, as its just a vision.

You know how self assessment “payment on account” works, right? You don’t get to sit on tax for “over a year”.

I do. You pay in July 2015 an estimate of 1/2 your tax bill for the period April 2014-March 2015. You pay the other half in January 2016. I know people who work that very nicely to their benefit offsetting their mortgage etc. Now I appreciate not everyone is “exploiting” the system like that but those that do reduce the sympathy for those that don’t.

Those in employment may get taxed every month, but they also get paid every month, and don’t have to deal with the cash flow challenges of that many businesses face.

I’m not disputing that – but don’t expect them to feel sorry for you, especially if you are paying less NI, taking money is dividends etc!

When the reality is that having an accountant is pretty much just a cost needed to deal with the compliance burden of being in business.

For a limited company I agree, but every “self employed” person I know claims their accountant saves them more than their fees by identifying things to offset against tax!

That’ll be OUR money then

exactly!

Thats kind of my point – there is to be a full consultation on the detail in due course. Getting outraged now seems rather futile when we don’t know what it is that will be outrageous. Its likely that even HMRC haven’t worked out the full detail yet, as its just a vision.

IME of having a small business for +10 years and currently assisting in the running/expansion of another one, they barely ever consider the impact on business – basically because none of them have any experience of running one. And for the current crop of politicians, barely any experience of ‘working’ outside politics.

I’ve also worked in a number of central Govt depts along with the NHS, and am well aware of how they work – unfortunately…

Poly – yes, it’s irrelevant as to when I pay it, I owe what I owe.

basically because none of them have any experience of running one.

How many of the developers, PMs and BAs working on it do you think are contractors ie very aware what the changes will mean for contractors and small businesses?

How many of the developers, PMs and BAs working on it do you think are contractors ie very aware what the changes will mean for contractors and small businesses?

What have they to do with it, they’re just implementing ‘policy’?

And Govt use of contractors is probably one of the reasons they pulled back on the recent ‘one-month’ approach, as their headcount would rise by about 100,000.

What have they to do with it, they’re just implementing ‘policy’?

That’s not really how it works

I do. You pay in July 2015 an estimate of 1/2 your tax bill for the period April 2014-March 2015. You pay the other half in January 2016

Payments on account in Jan and July 15, balancing payment, if due, in Jan 16. There are some additional adjustments but that’s the basics self employed people do get to delay paying tax for 10mths plus but that’s the rules.