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Although there's still a lot of work to do on my huge client job, I've just returned the 9 boxes of paperwork to them. I'm in the processing my list of queries for them. It will take time for them to deal with them and then it will take me time to work through their replies and do some meaningful accounts for them. Because of all the changes that has happened, although I've got a profit figure, that is so draft at this stage because of the queries, I'm not telling them what it is as that would mislead them.

El Loro
El Loro posted:
Rocking Ros Rose posted:
El Loro posted:

A moderately interesting BBC clip on some foreign words where they say there's no equivalent English word:
https://www.bbc.co.uk/news/av/world-45685575/

welsh definitely -interesting -thank you EL

Thanks Ros I find the use of words to convey meaning is interesting (semantics as used in the study of words rather than semantics as can be used in popuiar speech). If there isn't a word or phrase to use for something  (an object, an emotion or whatever) it becomes hard or impossible for someone to express their thoughts. And that can cause all sorts of problems or misunderstandings.

yes agree EL especially not finding words to express thought for one language to another -frustrating

Rocking Ros Rose

Good morning everyone

 

Another cloudy day here. Looks as if I'll need to cut the grass before the weekend as the forecast for Saturday is wet, then a couple of fairly dry days, but followed by a protracted period of rainy days.

 

Yogi, I'm glad you had a good day with the tiddlers

 

A very exciting tax course for me this morning

 

I hope everyone has a good day

El Loro

Good afternoon at last!!!!! I swear everyone has a knack of knowing when I pick up my phone to post in here. Either someone rings or calls in  

 

how are we all doing? 

All is well here, just incredibly busy. The customer holidays are over but now it’s the staff’s turn for holidays so we’re short a body for several weeks running.. my turn next week though, hurrah!!!! 

~Sparkling Summer~

Back from that course with the news that Making Tax Digital for VAT is definitely coming in from next April for any business with a turnover exceeding the VAT threshold. HMRC are in process of staring to tell affected businesses.

 

Also a gigantic change coming in a year's time for any VAT registered business in the construction industry. Basically where business is done between VAT registered businesses, it's the top contractor who will be paying over the VAT on the work done by a subcontractor with the subcontractor not invoicing or paying over VAT. So subcontractors will generally be claiming VAT back on expenses they've incurred. The top contractor will have to use what's called the reverse charge mechanism whereby they pay over VAT on the subcontracor's invoice as an extra output/sale but then claim it back as an extra input/expense. So generally neutral for the top contractor. The reason for this is to stop the Exchequer losing money from rogue subcontractors who get paid the VAT by the contractor and have no intention of paying it over to HMRC.

El Loro

Afternoon troops      

 

Hope all are well - goes without saying but there I've said it. Glad you had another good one with the wee ones Yogi -  they shoot up fast   

 

That tax post was quite interesting El and hope the big one is on schedule. Sweet, next week won't come fast enough 

 

squiggs, Ros, Moons    

FM

Thanks Velvet I've sent my queries off to the large client for them to work through. It will take them some time and it will also take me time once they supply me with the info I need. But for the time being I can work on the other clients work whuch has come in over the last month - I had warned them that I wouldn't be able to do it straightaway.

El Loro

Evening gang  

 

crikey El! I’m pleased I’m not a builder! And come under the VAT threshold. When will the rest of us little ones have to go digital..? 

 

Hope you’ve all had a lovely day. Mines been good. My mum has been around a lot lately, I think she misses her friends terribly, bless her. But she’s getting involved in various clubs, church, bingo and voluntary work.. she’s doing well 

~Sparkling Summer~

Good morning everyone

 

Another cloudy day here.

 

Summer, I'm glad your mum is getting on well As far as VAT registered businesses under the VAT threshold are concerned for the time being they won't have to use MTD but they can if they want to. But what happens in the future is not known. It's quite possible that the government will reduce the VAT threshold on the grounds that unregistered businesses under the current level have an unfair advantage over those which have to charge VAT. If they do that then the effect would be that many small unregistered businesses would have to register and that they and registered businesses under the threshold would have to use MTD. Keep an eye out for any announcement on this in the budget.

 

Moonie will be delighted with the new swan emojis

 

I hope everyone has a good day

El Loro

Yogi, I hope Mr Y's appointment goes well

 

That VAT reverse charge mechanism coming in a year's time for subcontractors is just for those in the construction industry so where the CIS rules apply. Anyone on the construction industry will recognise the term CIS, those outside won't as such.

 

Of course there's nothing to stop the reverse charge mechanism concept being extended in the future by the government. It's been around for years in relation mainly to businesses importing but also some other things.

El Loro

But not as big as Mothra:

That's a short clip I found on Youtube to give you an idea of the size. No idea what film it came from as those monster films from Japan were churned out over the years and there's some 10 of them which have those two monsters in. That's not including the American ones.

 

Years ago I saw one of the Japanese monster films at a cinema. Possibly the worst special effects I have ever seen in a film. I could actually see the studs on Lego bricks they had used for the buildings to be smashed down The companion film wasn't much better - a western where all the actors were clearly Japanese though I think there was one token westerner in it. (and it certainly wasn't an Akira Kurosawa film - some of his films are efectively westerns but with samurai, the best known being The Seven Samurai). I think I was attending a course, staying overnight in a hotel and went to some rundown cinema just to pass the time.

El Loro
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