HMRC Carries On Regardless, Ignoring Warnings

Well done ICAEW for raising concerns over 2 years ago when HMRC first issued consultation on #2019LoanCharge. ICAEW submitted a response that has been largely confirmed this week by @LordsEconCom Its a shame HMRC did not appear to take notice of the concerns raised at the time https://t.co/A7QK2SfQ4T

— Gordon Berry (@wealthagent) December 6, 2018

Tax does have to be taxing.

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Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

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Another HMRC Victim

#2019LoanCharge. For sanity sake I have today resigned from my senior cyber security role as needed downtime – Stress & lack of sleep finally got to me. Guess I'm just another HMRC victim.

— London IT Worker (@UK_Exodus) December 6, 2018

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

"I Do Not Think, In My Opinion, Parliament Can Let This Continue"

Chris Leslie, a former head of investigations at HMRC, added his voice to those who know that HMRC is abusing its position wrt IR35 and the loan charge scandal.

He pointed out that as a general rule, HMRC should have exercised “reasonable discretion” when probing taxpayers caught by the charge.

The Lords found HMRC to be guilty of a “failure to pursue taxpayers proportionately to their circumstances”, so much so that it caused them “anguish”.

Leslie is quoted by ContractorUK:

“The extent and nature of the investigations should be proportionate to tax risk.

The inequality of arms and costs are well-illustrated [by the Lords in their report].

[While] there is a balance to be struck and HMRC are tasked to achieve results, with newly trained investigators with substantial regulatory powers, the matter is ‘concerning.’ I do not think, in my opinion, parliament can let this continue.”

Quite!

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

HMRC's Response To Lord Forsyth - It Doesn't Give a Fuck!

Our response to today's @LordsEconCom report on HMRC's powers

For more information on the loan charge, please see our fact sheet https://t.co/q7z3O5qZ3g pic.twitter.com/ZpE4IQhATg

— HMRC Press Office (@HMRCpressoffice) December 4, 2018

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Lord Forsyth Savages HMRC's Retrospective Tax

On the #2019loancharge, we concluded that the loan charge is retrospective in its effect. Parliament has laid down time limits for tax matters which give certainty to taxpayers about their affairs. It undermines this framework to artificially trigger a future charge. [5/9] pic.twitter.com/AnX0NzsMw1

— Lords Economic Affairs Committee (@LordsEconCom) December 4, 2018

Powers given to HMRC to tackle tax avoidance and evasion are undermining the rule of law and justice.

This is devastating the lives of middle and lower income individuals, from the private and public sector (including the National Health Service) who used disguised remuneration schemes, in many cases being required to do so by their employers.

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"

Chancellor Takes Excess Comfort From One Company's MTD Progress

At a small business reception at 11 Downing Street, Philip Hammond asked Gary Turner, managing director at software company Xero, about Making Tax Digital and Xero’s preparations to which Turner confirmed that Xero are ‘all sorted’ and are working with HMRC on the project.

From 1 April 2019, VAT registered businesses earning above the current VAT threshold of £85,000 are mandated to keep digital records and submit VAT returns using MTD-compatible software.

Xero is one of many software providers who are providing compatible software for businesses to use come April 2019.


Now whilst this is all well and good, as far as the Chancellor hearing what he wanted to hear, there is rather a large fly in Hammond's ointment, as espoused by Damon Anderson, director, partner and product at Xero, who told Accountancy Daily:

‘Our research has shown that 25% of small businesses currently are not even aware of Making Tax Digital and these that are only 23% realise it’s compulsory, so it is important for us to make sure that everyone is aware that it is coming up very soon.

People have been able to file VAT in Xero for a long time, but we have taken the opportunity to upgrade the experience and have added 30 new features so Making Tax Digital for VAT is taken care of. We are not worried about our ability to prepare for Making Tax Digital we are more concerned about people realising that it is something they have to do.’

Yup, there are a lot of businesses that are not ready for MTD...is HMRC?

Tax does have to be taxing.

Professional Cover Against the Threat of Costly TAX and VAT Investigations

Insurance to protect you against the cost of enquiry or dispute with HMRC is available from several sources including Solar Tax Investigation Insurance.

Ken Frost has negotiated a 10% discount on any polices that may suit your needs.

However, neither Ken Frost nor HMRCISSHITE either endorses or recommends their services.

What is Solar Tax Investigation Insurance?

Solar Tax Investigation Insurance is a tax-fee protection service that will pay up to £75,000 towards your accountant's fees in the event of an HM Revenue & Customs full enquiry or dispute.

To find out more, please use this link Solar Tax Investigation Insurance



HMRC Is Shite (www.hmrcisshite.com), also available via the domain www.hmrconline.com, is brought to you by www.kenfrost.com "The Living Brand"