Good morning Buddies 
A sunny but cool start to the day here. Rain expected later 
Enjoy your day everyone
@El Loro posted:Coming back from Cheltenham this morning and saw a car drive past in the other lane, ignored the traffic lights which had turned red several seconds before. I think the driver knew that there were no cameras there so went straight through.
Thatâs disgraceful and very dangerous 
@Moonie posted:Thatâs disgraceful and very dangerous
The driver must have been going over the 40 mph speed limit for that stretch of road, must have seen the lights turn red, had enough distance to stop even at 50mph, and must have decided to gamble that the vehicle waiting to move from the adjoining road had yet to move.
@El Loro posted:The driver must have been going over the 40 mph speed limit for that stretch of road, must have seen the lights turn red, had enough distance to stop even at 50mph, and must have decided to gamble that the vehicle waiting to move from the adjoining road had yet to move.
Some people donât seem to realise that a car is deadly weapon and can do a lot of damage even at those speeds
night EL Slim moonsieee
@El Loro posted:@slimfern not much of note on the Talking Pictures tv schedule during the coming week other than on Friday 15.00 "Saps at Sea" (1940) which is considered to be Laurel & Hardy's last film worth watching. It's about an hour long.
Morning El 
Thanks for that
There may be nothing of note this week but I have a whole catalogue of things I've recorded that I can watch, courtesy of you 
night EL slim moonsieee
Well done El night EL slim moonsieee
Got as phone call this morning from the outfit carrying out surveys for HMRC. I had received a letter about this a few weeks ago and had emailed the outfit to opt out. I had received an email back to accept my request. Someone will get told off for not processing my request. The caller this morning was apologetic.
The survey was about HMRC services and was targetted at both those who have to complete tax returns and also at agents. Fairly obviously I use my tax software to file my tax return rather than use HMRC's own. And I use that software for filing clients returns. My use of HMRC services is minimal and I didn't want to waste my time in answering questions in a survey.
A very early Charlie Chaplin film which has him in a somewhat different role from that of his tramp role. Directed by George Nichols and the lead actress was played by Minta Durfee (who was Roscoe 'Fatty' Arbuckle's wife). Not from the same poster as those clips I posted a warning about. Picture quality is degraded particularly at about 2 minutes in and the soundtrack must have been added possibly by the poster.
@El Loro posted:Got as phone call this morning from the outfit carrying out surveys for HMRC. I had received a letter about this a few weeks ago and had emailed the outfit to opt out. I had received an email back to accept my request. Someone will get told off for not processing my request. The caller this morning was apologetic.
The survey was about HMRC services and was targetted at both those who have to complete tax returns and also at agents. Fairly obviously I use my tax software to file my tax return rather than use HMRC's own. And I use that software for filing clients returns. My use of HMRC services is minimal and I didn't want to waste my time in answering questions in a survey.
It's annoying isn't it El 
I keep getting texts from my local surgery to have a flu vaccine...I rang to inform them that I don't want it, but until someone actually sits at the computer and removes my name from the 'list', I will continue to recieve those invites
I imagine it's pretty much the same with your circumstance.
Computers are brilliant but computer generation can be a real pain in the proverbial 
@slimfern posted:It's annoying isn't it El
I keep getting texts from my local surgery to have a flu vaccine...I rang to inform them that I don't want it, but until someone actually sits at the computer and removes my name from the 'list', I will continue to recieve those invites
I imagine it's pretty much the same with your circumstance.
Computers are brilliant but computer generation can be a real pain in the proverbial
Not quite the same, but there used to be the term "garbage in, garbage out" (GIGO)/ (possibly derived from "first in, first out" (FIFO) which is a business term used as a method for valuing stock).
GIGO means that if the data input on computers is rubbish, then the resulting output is also rubbish. I've had clients who had kept their records on computer, they thought that the records were OK, but when I went through the prints, they were were far from OK and I would have to spend time workung out what entries were needed to correct things.
(That's why the government/HMRC determination to force making tax digital on the self employed and landlords is fatally flawed though the government/HMRC ignore the warnings they are being given).
@El Loro posted:
Not quite the same, but there used to be the term "garbage in, garbage out" (GIGO)/ (possibly derived from "first in, first out" (FIFO) which is a business term used as a method for valuing stock).
GIGO means that if the data input on computers is rubbish, then the resulting output is also rubbish. I've had clients who had kept their records on computer, they thought that the records were OK, but when I went through the prints, they were were far from OK and I would have to spend time workung out what entries were needed to correct things.
(That's why the government/HMRC determination to force making tax digital on the self employed and landlords is fatally flawed though the government/HMRC ignore the warnings they are being given).
I think the whole HMRC system is flawed...it gets worse every time there is a budget...mini or otherwise.
I don't envy you your job one bit El
I'd be 
@El Loro posted:A very early Charlie Chaplin film which has him in a somewhat different role from that of his tramp role. Directed by George Nichols and the lead actress was played by Minta Durfee (who was Roscoe 'Fatty' Arbuckle's wife). Not from the same poster as those clips I posted a warning about. Picture quality is degraded particularly at about 2 minutes in and the soundtrack must have been added possibly by the poster.
Just goes to show that love always wins the day
and that peeping Toms & Janes will get their comeuppance eventually
@slimfern posted:I think the whole HMRC system is flawed...it gets worse every time there is a budget...mini or otherwise.
I don't envy you your job one bit El
I'd be
If you think the HMRC system is flawed, it's nothing compared to what it will be like from 6 April 2024 when MTD-ITSA comes in. I, along with many other accountants, will be forced to retire by then as we won't want to be involved with what will happen. Tax returns for year to 5 April 2024 will be on the present basis so being filed from 6 April 2024 to 31 January 2025.
MTD-ITSA quarterly returns from 6 April 2024 have to be filed within 1 month of end of each quarter.
It's obvious that any accountant who has no staff will not be able to do this.
Those accountants who continue will force their clients to keep computer records, either by using accounts software (which that accountant uses) or using Excel spreadsheets.
Those who are unable to use computers may be able to apply to HMRC for dispensation but, I think, will still be required to ring HMRC each quarter to give the figures over the phone. Dispensation will be at HMRC's discretion and can't be assumed. It would be people who live in areas where there's minimal internet availability, or they are unable to use computers due to disability, or some religious groups who abstain from using computers.
It seems that for those whose turnover is under the VAT threshold (ÂĢ85k) will be able to file a consolidated figure for expenses. Originally all would have had to file expenses by categories specified by HMRC.
Of course there will be fines for those who don;t file or file late.
@El Loro posted:If you think the HMRC system is flawed, it's nothing compared to what it will be like from 6 April 2024 when MTD-ITSA comes in. I, along with many other accountants, will be forced to retire by then as we won't want to be involved with what will happen. Tax returns for year to 5 April 2024 will be on the present basis so being filed from 6 April 2024 to 31 January 2025.
MTD-ITSA quarterly returns from 6 April 2024 have to be filed within 1 month of end of each quarter.
It's obvious that any accountant who has no staff will not be able to do this.
Those accountants who continue will force their clients to keep computer records, either by using accounts software (which that accountant uses) or using Excel spreadsheets.
Those who are unable to use computers may be able to apply to HMRC for dispensation but, I think, will still be required to ring HMRC each quarter to give the figures over the phone. Dispensation will be at HMRC's discretion and can't be assumed. It would be people who live in areas where there's minimal internet availability, or they are unable to use computers due to disability, or some religious groups who abstain from using computers.
It seems that for those whose turnover is under the VAT threshold (ÂĢ85k) will be able to file a consolidated figure for expenses. Originally all would have had to file expenses by categories specified by HMRC.
Of course there will be fines for those who don;t file or file late.
Of course...
I can see a day when the treasury coffers are made up of just fines
@slimfern posted:Of course...
I can see a day when the treasury coffers are made up of just fines
Whenever the government announces policies it has to come up with what they think the effect on the Exchequer (what's in the government's coffers) will be.
These are their official figures for MTD-ITSA, I'm not making them up:
2022-23 +ÂĢ20m
2023-24 +ÂĢ55m
2024-25 +ÂĢ210m
2025-26 +ÂĢ400m
There's a pilot being done at this time and people can already opt in if they want to, that's why there are figures for 2022-23 and 2023-24. People who trade as partneships rather than individually self-employed don't get dragged in until 5 April 2025 which may be why the 2025-26 figure is higher than the 2024-25 one.
Those amounts are the sum of the exttra tax they think MTD-ITSA will raise and fines.
They seem to think that people are either undeclaring their income or overstating their expenses and that bringing in MTD-ITSA will reduce this, hence they think that it will bring in more tax. That's either flawed thinking or offensive.
@El Loro posted:Whenever the government announces policies it has to come up with what they think the effect on the Exchequer (what's in the government's coffers) will be.
These are their official figures for MTD-ITSA, I'm not making them up:
2022-23 +ÂĢ20m
2023-24 +ÂĢ55m
2024-25 +ÂĢ210m
2025-26 +ÂĢ400m
There's a pilot being done at this time and people can already opt in if they want to, that's why there are figures for 2022-23 and 2023-24. People who trade as partneships rather than individually self-employed don't get dragged in until 5 April 2025 which may be why the 2025-26 figure is higher than the 2024-25 one.
Those amounts are the sum of the exttra tax they think MTD-ITSA will raise and fines.
They seem to think that people are either undeclaring their income or overstating their expenses and that bringing in MTD-ITSA will reduce this, hence they think that it will bring in more tax. That's either flawed thinking or offensive.
I think a bit of both tbh El ...it's disgraceful and somewhat dishonest if you ask me
Most people aren't against paying tax, we all know it's needed, but to make it so that folk are trapped into paying more is not right!!
@slimfern posted:I think a bit of both tbh El ...it's disgraceful and somewhat dishonest if you ask me
Most people aren't against paying tax, we all know it's needed, but to make it so that folk are trapped into paying more is not right!!
The government/HMRC recognise that MTD-ITSA will have a cost for the self-employed and landlords (computers/training/software etc) Their official estimate for the self-employed and landlords is as follows:
A one-off cost of ÂĢ1,383 million.
Annual costs of ÂĢ260 million less savings of ÂĢ109 million = a net ÂĢ152 million.
So the cost to the self employed & landlords is somewhat more than the extra tax HMRC expects.
My figures are from this document:
https://www.gov.uk/government/...nesses-and-landlords
No wonder they emigrate
night El Slim moonsieee velvet
Announced today that the Bond Street staion for the new Elizabeth line in Londom has opened. That station is the one after the station at Paddington.
https://www.bbc.co.uk/news/uk-england-london-63054287