Thursday 18 April 2019

DO NOT RETWEET HMRC's PROJECT ROAR PICTURE


Therefore, whatever you do:

DO NOT COPY THE PICTURE AND POST IT ON SOCIAL MEDIA AND ASK PEOPLE TO REPOST/RETWEET IT! 

Tax does have to be taxing.

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5 comments:

  1. Paws for thought, not exactly a roaring success, part of the Tiger Economy.
    Then there is always the poem by Blake W.?
    Must stop being catty!
    Is there an HMRC clawback claws?!

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  2. Hello...great blog...wondered if any HMRC staff/ ex-staff or accountants who frequent this site can help with a question...am helping friend complete self assessment return...self-employed income will be under personal allowance so can't be bothered to claim any expenses...will completing a return with same figure in turnover & profit expose to risk of HMRC enquiry or not as its small beer? Could hmrc use it as their 'in' to question the income side?

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    Replies
    1. Wrong question. The question you should ask is, "should my friend file an accurate tax return that truly reflects his taxable income and allowable expenditure so that any potential enquiry will find no inaccuracies?"
      No one can guarantee that a filed tax return will not be investigated as profiling is not generic.
      My other thought is, why is the three line account so demanding for your frend? My suspicion is that you're just fishing for info on how HMRC select cases for enquiry.

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    2. yea but surely if a tax payer chooses to claim no expenditure hmrc would have no issue with it as no tax would be lost

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    3. So long as the income side is correct there are no issues whatsoever with claiming nil expenses from HMRC's side of things; that said having a Turnover and Profit figure which are the same would expose you to a higher risk of it being investigated due to being in a slightly unusual situation - this would create the opportunity for them to examine income.

      Of course, if you are using SA302 for a mortgage application, you should ensure all the information is accurate to show your true net profit.

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