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KEEPING YOU IN TOUCH - YOUR FREE MONTHLY NEWSPAPER DELIVERED DOOR-TO-DOOR FOR 31 YEARS


MORTGAGE SERVICES LTD Independent Mortgage Advice


Office: 01900 821 713 Mobile: 07713 711 218


Brian Sloan


brian@cumbriamortgages.co.uk www.cumbriamortgages.co.uk





 


    


 


-  


 


I will get you a ‘Made to Measure Mortgage’ CUMBRIA INDEPENDENT


9 Main Street, Cockermouth, CA13 9LE


IT AIN’T BROKE SO LET’S FIX IT!


Much of the way HMRC operates is just plain rubbish. It can often take HMRC 20 minutes to answer the telephone and roughly 20% of the time by their own figures they then cut callers off. It usually takes HMRC at least 6 weeks to reply to a letter and often, they don’t reply because they have lost your mail. Some of their systems would not be tolerated in any private sector business that wasn’t going bust.


Well, one bit of their system which works well is VAT. It’s online, you key in up to eight numbers four times a year and their database processes it. Most of the time, very accurately. In fact, I will go so far as to say that, along with corporation tax, VAT is the one area of the HMRC system where the database performance is the highest.


Naturally, if you are as incompetent as the


CONSIDERED WORDS BY OAKTREE ACCOUNTANCY


people who run HMRC, the obvious thing to do with a system which is working well is to make drastic and complex changes to it. So, this is exactly what they have decided to do for VAT submissions from April 2019. If you are reading this and do VAT returns and are surprised HMRC have not told you about this massive change, don’t be surprised. So far, they have seen fit not to communicate this with any VAT-registered business.


Their acronym for this change is Making Tax Digital – MTD for short. It’s a very good idea in principle and would work well in any


properly run tax service, say an 8 out of 10 tax service. But in a 1 out of 10 tax service like HMRC, it is likely to be a worse shambles than Brexit, so my acronym for it is Making Tax Diabolical.


In their current form, the HMRC proposals are likely to force many VAT-registered businesses to spend a few hundred pounds extra per year on new software. So, as well as introducing the possibility of new errors into your submissions, HMRC plans to impose new costs on you too. Just like Brexit, the promises HMRC made about MTD at the start have turned out to be castles of sand and numerous backtracks have been made. MTD is a shambles and you heard it here first!


Chris MacLeod BOOST YOUR BOTTOM LINE WITH A FIXED PRICE ACCOUNTANT


Proactive, quality accountancy support for your business First Two Months FREE with Oaktree!


Chris MacLeod ICPA INFO@THECOCKERMOUTHPOST.CO.UK


Call Chris for a free chat on 07889 181 080or 01900 268 086 www.oakacc.co.uk ISSUE 428 | 23 AUGUST 2018 | 20


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