Night night, sleep well, sweet dreams Buddies 
@El Loro posted:Herbert Howells is best known for his choral compositions but also did this:
Performed on piano and violin though composed for organ.
It is believed that this piece of music was inspired by the view from the top of Chosen Hill looking towards the Malverns. He was friends with Ivor Gurney (a poet & composer from Gloucester) and they would go on walks through the local countryside.
gorgeous EL - thankyou
@El Loro posted:According to Wiki this is the only surviving sound film of him. He was conducting the London Symphony Orchestra in his first Pomp and Circumstance March (Land of Hope and Glory) at the opening of the Abbey Road Studios in London.
loved this fantastic -very rousing yet gentle - thank you EL
Night EL slim moonsieee
Good morning everyone it's a wet and very windy day to come again.
Enjoy your day everyone 
Milky Way Gallery...
https://www.livescience.com/milky-way-photos.html
I think some of the colouring makes the pictures almost like fantasy images.
@slimfern posted:Milky Way Gallery...
https://www.livescience.com/milky-way-photos.html
I think some of the colouring makes the pictures almost like fantasy images.
Some stunning photos 
As you say, some of them look like book covers I've seen over the years,
The NASA website has a gallery of image of the day.
https://www.nasa.gov/multimedi...agegallery/iotd.html
From time to time it has an image which can be remarkable.
I reckon NASA is the epitome of engineering and problem solving. What do I know though - still mindblowing what they do
I await my Snoopy Award for that comment @Nasa . A Speedmaster would be nice.
Hope all are A1. Let's see if this thundersnow materializes today or tomoorow. Blizzard has a new word these days - like everything else 
Take care troops
@ÂĢ5k list. Near enough 40 now. And that was only a few years ago. Naw Rolex, Snoopy is special 
Failure is not an option.
@velvet donkey posted:I reckon NASA is the epitome of engineering and problem solving. What do I know though - still mindblowing what they do
I await my Snoopy Award for that comment @Nasa . A Speedmaster would be nice.
Hope all are A1. Let's see if this thundersnow materializes today or tomoorow. Blizzard has a new word these days - like everything else
Take care troops
I hope the bad weather doesn't affect you too much No thunderstorms or blizzards expected here.
Closest I'm getting to a blizzard is that I'm snowed under with client work 
That's the best news of the year 
@slimfern posted:Milky Way Gallery...
https://www.livescience.com/milky-way-photos.html
I think some of the colouring makes the pictures almost like fantasy images.
love these EL stunning and thought provoking
night EL slim moonsieee velvet
Good morning everyone it's a showery day with a strong breeze but not as windy as yesterday.
Enjoy your day everyone
Good morning everyone
Some sunshine here, may get showers at times.
A newly discovered tree in a rainforest has been named after Leonardo DiCaprio. He helped to get logging stopped there.
https://www.bbc.co.uk/news/sci...environment-59888755
I hope everyone has a good day
@El Loro posted:Good morning everyone
Some sunshine here, may get showers at times.
A newly discovered tree in a rainforest has been named after Leonardo DiCaprio. He helped to get logging stopped there.
https://www.bbc.co.uk/news/sci...environment-59888755I hope everyone has a good day
A deserved reward for doing a good deed for the planet I think
Well done Leo 
@slimfern as you've seen Orson Welles's films I though I would mention that the Talking Pictures tv channel is showing his 1962 film "The Trial" this evening. He made it in Europe, hence many of the actors are European, though the lead character was played by Anthony Perkins. Film is in English. As was the case with many of Welles's films it was beset with production problems. When I mention that it was based on a novel by Franz Kafka and is about an unassuming office worker who is arrested and put on trial without being told what he's been charged with, it's clearly a nightmarish film.
@El Loro posted:@slimfern as you've seen Orson Welles's films I though I would mention that the Talking Pictures tv channel is showing his 1962 film "The Trial" this evening. He made it in Europe, hence many of the actors are European, though the lead character was played by Anthony Perkins. Film is in English. As was the case with many of Welles's films it was beset with production problems. When I mention that it was based on a novel by Franz Kafka and is about an unassuming office worker who is arrested and put on trial without being told what he's been charged with, it's clearly a nightmarish film.
Have you seen it El?
@slimfern posted:Have you seen it El?
I think I may have seen "The Trial" many many years ago though I don't remember it. I'm recording it. It's being shown by Talking Pictures in its "Cellar Club" slot where it tends to shows old horror films though it's not specifically in the horror genre. Was X rated back in 1962 but now rated PG.
@El Loro posted:I think I may have seen "The Trial" many many years ago though I don't remember it. I'm recording it. It's being shown by Talking Pictures in its "Cellar Club" slot where it tends to shows old horror films though it's not specifically in the horror genre. Was X rated back in 1962 but now rated PG.
I think I'll do the same...maybe make it a daytime viewing... just in case 
Is a busy time of the year for Accountants, hope all is going well for you
@slimfern posted:I think I'll do the same...maybe make it a daytime viewing... just in case
Is a busy time of the year for Accountants, hope all is going well for you
I agree, it's not a film to watch before going to bed
I am busy with client work but as I'm semi-retired I don't have the same number of clients that I used to so I', not expecting to be working silly hours as many accountants will be this month.
HMRC announced yesterday that they won't charge a penalty if someone files their return by the end of February rather than the official deadline of 31 January. The tax though is still payable by 31 January and people will be charged interest from 1 February. So the extension shouldn't be seen a giving the green light to taxpayers not to bother filing by 31 January.
@El Loro posted:I agree, it's not a film to watch before going to bed
I am busy with client work but as I'm semi-retired I don't have the same number of clients that I used to so I', not expecting to be working silly hours as many accountants will be this month.
HMRC announced yesterday that they won't charge a penalty if someone files their return by the end of February rather than the official deadline of 31 January. The tax though is still payable by 31 January and people will be charged interest from 1 February. So the extension shouldn't be seen a giving the green light to taxpayers not to bother filing by 31 January.
That's when our accounts used to have to be filed for......did have one year where we had a late filing, but that was a delay due to our accountant....he paid the fine for us (He'd had our completed books early in the November)
It always bemused me as to why we didn't have our end of year in line with HMRC ...5th April. (end of March) 
@slimfern posted:That's when our accounts used to have to be filed for......did have one year where we had a late filing, but that was a delay due to our accountant....he paid the fine for us
It always bemused me as to why we didn't have our end of year in line with HMRC ...5th April. (end of March)
In the days before the self assessment system came in for income tax returns there were advantages to having the year end early in the tax year rather than later. It would take me to long to find out exactly what those were as it's been years since the system changed.
Those advantages ceased when the self assessment system came in thanks to the introduction of overlap relief. Now, a self employment person will pay tax on the taxable profits made over the life of the business, On the old system it was possible to effectively pay tax twice on profits on a period of say 5 months but nothing on a different period of 5 months.
Problem with overlap relief is that it's based on a period at the beginning of a business's life and doesn't get increased.
Suppose a business with a year end of 30 April makes a profit of ÂĢ12,000 in the first year. The overlap relief is 11/12ths so ÂĢ11,000. By the time the business comes to an end it's been making profits of ÂĢ50,000 a year. Final tax return has taxable profits of ÂĢ50,000 for the last full year plus ÂĢ45,833 for the last 11 months less overlap relief of ÂĢ11,000 = ÂĢ84,833. So lands up by some ÂĢ30,000 being taxed at 40% rather than 20%. If that business had used a year end of 31 March/5 April it would never have gone into the 40% bracket.
That's why I always encouraged my clients to having year ends to match the tax year end. Of course it the business is smaller than that so doesn't risk going into the higher rate on cessation, it doesn't matter what year end is used.
If MTD for income tax comes in from April 2024 HMRC will require self employed person to have the 31 March/5 April year end. With the intention that they (and landlords) will have to file quarterly figures with HMRC digitally within 1 month of the end of each quarter, this will cause chaos for taxpayers and accountants Obviously accountancy institutes have highlighted this. and MTD has been delayed a couple of times but it's still coming.
The basic argument for MTD put forward is that HMRC's investigations have shown that taxpayers have underpaid tax through error and by making filing digital it will get over these errors.
There are 3 flaws to the argument.
Firstly there's the fact that not all computerised accounting records are accurate. I refer to this as GIGO, garbage in, garbage out.
Secondly, common sense tells you that if errors can be made in one way (reducing profit) it's just as likely that errors can be made the other way (increasing profits). I am referring to genuine errors rather than deliberate fiddling.
Thirdly, and this is the way HMRC do investigations. Yes, some of them are done because they have information that someone is being naughty. Obviously an investigation is likely to support that. But most if them are done on a random basis. Taxpayers are selected well before the tax returns go in. In many case, HMRC will take a cursory look and realise there's no need to go any further and the taxpayer will never realise that they had been looked at. HMRC will generally only do an investigation if they think it's worth their while. They have to justify the cost of carrying out an investigation.
So it's hardly surprising that their investigations show that tax has been underpaid.
To extend that result to taxpayers generally is a good example of how to use statistics to justify a policy,
HMRC did say that the amount of tax being underpaid was an estimate and not necessarily the actual amount.
The fact that HMRC are under long term pressure to keep on reducing their costs and so need to get taxpayers to do more of the processing has of course nothing to do with MTD. I won't get inti the politics about this.
@El Loro posted:In the days before the self assessment system came in for income tax returns there were advantages to having the year end early in the tax year rather than later. It would take me to long to find out exactly what those were as it's been years since the system changed.
Those advantages ceased when the self assessment system came in thanks to the introduction of overlap relief. Now, a self employment person will pay tax on the taxable profits made over the life of the business, On the old system it was possible to effectively pay tax twice on profits on a period of say 5 months but nothing on a different period of 5 months.
Problem with overlap relief is that it's based on a period at the beginning of a business's life and doesn't get increased.
Suppose a business with a year end of 30 April makes a profit of ÂĢ12,000 in the first year. The overlap relief is 11/12ths so ÂĢ11,000. By the time the business comes to an end it's been making profits of ÂĢ50,000 a year. Final tax return has taxable profits of ÂĢ50,000 for the last full year plus ÂĢ45,833 for the last 11 months less overlap relief of ÂĢ11,000 = ÂĢ84,833. So lands up by some ÂĢ30,000 being taxed at 40% rather than 20%. If that business had used a year end of 31 March/5 April it would never have gone into the 40% bracket.
That's why I always encouraged my clients to having year ends to match the tax year end. Of course it the business is smaller than that so doesn't risk going into the higher rate on cessation, it doesn't matter what year end is used.
If MTD for income tax comes in from April 2024 HMRC will require self employed person to have the 31 March/5 April year end. With the intention that they (and landlords) will have to file quarterly figures with HMRC digitally within 1 month of the end of each quarter, this will cause chaos for taxpayers and accountants Obviously accountancy institutes have highlighted this. and MTD has been delayed a couple of times but it's still coming.
The basic argument for MTD put forward is that HMRC's investigations have shown that taxpayers have underpaid tax through error and by making filing digital it will get over these errors.
There are 3 flaws to the argument.
Firstly there's the fact that not all computerised accounting records are accurate. I refer to this as GIGO, garbage in, garbage out.
Secondly, common sense tells you that if errors can be made in one way (reducing profit) it's just as likely that errors can be made the other way (increasing profits). I am referring to genuine errors rather than deliberate fiddling.
Thirdly, and this is the way HMRC do investigations. Yes, some of them are done because they have information that someone is being naughty. Obviously an investigation is likely to support that. But most if them are done on a random basis. Taxpayers are selected well before the tax returns go in. In many case, HMRC will take a cursory look and realise there's no need to go any further and the taxpayer will never realise that they had been looked at. HMRC will generally only do an investigation if they think it's worth their while. They have to justify the cost of carrying out an investigation.
So it's hardly surprising that their investigations show that tax has been underpaid.
To extend that result to taxpayers generally is a good example of how to use statistics to justify a policy,
HMRC did say that the amount of tax being underpaid was an estimate and not necessarily the actual amount.
The fact that HMRC are under long term pressure to keep on reducing their costs and so need to get taxpayers to do more of the processing has of course nothing to do with MTD. I won't get inti the politics about this.
The year before I left where I was working, the 'Quickbooks' I was using went digital. It was a real nightmare to set it up, others had problems too because there was a glitch....sorting it involved the Quickbook's lady accessing my computer from her end.
Once it was sorted and set up, it wasn't any different from before really....as long as data was entered properly and on time
I think uniforming the EOY makes good sense tbh...especially if it helps stop underpayments
@El Loro posted:Good morning everyone
Some sunshine here, may get showers at times.
A newly discovered tree in a rainforest has been named after Leonardo DiCaprio. He helped to get logging stopped there.
https://www.bbc.co.uk/news/sci...environment-59888755I hope everyone has a good day
lovely story and fantastic that a Zleb actually cares -lovely tree as well
night EL slim moonsiee
Good morning everyone it's extremely windy at the moment and due to last all day with heavy rain.
Enjoy your day everyone
@slimfern posted:The year before I left where I was working, the 'Quickbooks' I was using went digital. It was a real nightmare to set it up, others had problems too because there was a glitch....sorting it involved the Quickbook's lady accessing my computer from her end.
Once it was sorted and set up, it wasn't any different from before really....as long as data was entered properly and on time
I think uniforming the EOY makes good sense tbh...especially if it helps stop underpayments
MTD for income tax will be mandatory for any self employed person who has turnover/sales over ÂĢ10,000. That's a very low threshold. It would be more sensible to set the threshold at ÂĢ85,000 the VAT registration threshold but there's no sign the ÂĢ10,000 will be increased. Businesses such as the one you had would be more able to cope. It's the self employed person with a small business who is more likely to have problems. An entity such as Quickbooks would need to increase the size of their support team substantially as the current size would not cope.
@El Loro posted:MTD for income tax will be mandatory for any self employed person who has turnover/sales over ÂĢ10,000. That's a very low threshold. It would be more sensible to set the threshold at ÂĢ85,000 the VAT registration threshold but there's no sign the ÂĢ10,000 will be increased. Businesses such as the one you had would be more able to cope. It's the self employed person with a small business who is more likely to have problems. An entity such as Quickbooks would need to increase the size of their support team substantially as the current size would not cope.
Agree with that 100%
And yes bringing tax and VAT in line with each other would make sense
@slimfern Although "The Trial" has a PG rating, Talking Pictures has given it a 15 for distressing scenes and attitudes and language from a previous era which some may find offensive. I started watching the beginning last night to see if I remembered it but I don't. Very unusual beginning showing still scenes made using pins, effect is similar to Durer etchings.
Talking Pictures had been reported to Ofcom a couple of times for showing old programmes and films which the complainer thought were offensive stereotyping. Although Ofcom cleared Talking Pictures, I suspect that as a result Talking Pictures are more likely warnings like that to cover themselves.
Talking Pictures are showing "The Green Man" (1956) this evening. A must see if you haven't seen it before. Comedy with George Cole as a vacuum cleaner salesman trying to foil an assassin (Alastair Sim).
@El Loro posted 13/8/2021:Last weekend my brother mentioned to me the Marble Arch Mound in London.
Just watch the clip on this BBC article to see what people think about it:
https://www.bbc.co.uk/news/uk-england-london-58197626
And after the disastrous reception will close permanently tomorrow:
https://www.bbc.co.uk/news/uk-england-london-59906865
@El Loro posted:@slimfern Although "The Trial" has a PG rating, Talking Pictures has given it a 15 for distressing scenes and attitudes and language from a previous era which some may find offensive. I started watching the beginning last night to see if I remembered it but I don't. Very unusual beginning showing still scenes made using pins, effect is similar to Durer etchings.
Talking Pictures had been reported to Ofcom a couple of times for showing old programmes and films which the complainer thought were offensive stereotyping. Although Ofcom cleared Talking Pictures, I suspect that as a result Talking Pictures are more likely warnings like that to cover themselves.
Talking Pictures are showing "The Green Man" (1956) this evening. A must see if you haven't seen it before. Comedy with George Cole as a vacuum cleaner salesman trying to foil an assassin (Alastair Sim).
I think I have seen 'The Green Man' ...worth a second watch ..Thanks EL