The Positive Accountant Vol 1 Ed 20

I once had a client - I'll call him Mr George, now long since departed from this mortal coil - who when I visited approximately once every six months pointed to the mantelpiece.  

My first job on each visit was to open his (six months's worth of) post and tell him which of the HMRC letters he needed to take action on and to drop the rest in the fire.

I'm reminded of him today as I've been inundated by people contacting me saying 'I've had an email from HMRC about filing my tax returm, what shall I do ?'

So, to save me metaphorically opening each of those electronic envelopes and burning them, here is the position.  HMRC legally have to request a tax return each year.  Historically this is by paper but even HMRC is now in the 21st century. 

The deadline is end January, so no panic.  Although for my own sanity I'd like to get them done sooner than later.

Hope that helps

Remember, if you have 'missed' any previous editions, they can be found at

http://www.positiveaccountant.com

What are my positives today:-:

1. I filed my second and third 2019/20 tax returns.  It's still a great feeling !  Tax return in with nearly nine months still to go...

2.   I don't have to read'Taxation'at the moment. I find reading magazines about tax one of the most boring activities known to mankind.  I accept I need to keep up to date with new tax cases and legislative changes but . . . .

For those not in the know,Taxationcould be calledPlayboy for Accountants. It comes out weekly and  accountants across the land salivate by their letterboxes on Thursday mornings.  

Not me, mine tend to stack up until my conscience gets the better of me (and/or the pile becomes a health and safety hazard).  I then treat reading them like a box set binge session.  By which time some of the earlier editions have been superceded by developments.  eg 'Our tips for the Budget' can be skipped if the Budget has by then already happened.

The thing is, tax is changing so quickly (as in daily) right now that as soon as the printing is completed it's out of date.  Which means Taxation can follow the path of Mr George's post without even the slightest twinge of guilt !

3.  Coffee costs are going down

Early on in this odd period that we're living in, I was helping a cafe put together some budgets.

I was told 'We spend £1,000 a month on coffee', to which, without thinking, I responded 'So do I"

Not any more...(and in case Debbie is reading, I was exaggerating, honest !)

Andwhat am I talking to clients about today ?  

20th April - the day that HMRC have promised the furloughing system goes live !  Maybe we'll have some rules by then.

Cloud Bookkeeping- the big growth area in accounting in the last two -three years has been moving accounts systems onto the cloud.  Quickbooks, Xero and to a lesser extent Sage One have broken away from data being held only on one computer, accessible via secure internet connections, and thank goodness for that.  The year end 'delivery of books' can be as simple now as an email saying 'all done., off you go'.  Got a bookkeeping problem ? An email or phone call and it can be resolved, just like that.

We've got something like 70% of our clients now on cloud accounting, and it's noticeable how many of the remaining 30% are talking about changing.

Until tomorrow, stay safe

Adrian 

adrian.mole@quove.co.uk

07917 338342

It was pointed out that yesterday's photo was perhaps a bit exotic.  So here is Sandown, Isle of Wight

No purpose for it whatsoever except to give balance, a bit like they do on the 'Today' programme.