The Positive Accountant Vol 2 Ed 11
I have seen an interesting reaction to last week's article about CGT on property disposals. As an aside, and slightly tongue in cheek, I mentioned the 'cardinal sin' of sending tax return information to an accountant in January.
Only to find that quite a few readers sent their information in over the weekend. Guilty consciences maybe ?
Seriously, I think there is a concern to get things done sooner than later at the moment, and that is no bad thing. I plan over the coming couple of weeks to pull together what I have and - more importantly - what I don't have in and to start requesting outstanding information.
http://www.positiveaccountant.com
What are my positives today:-:
1.I've discovered dictation on a Mac
I always knew the function was there, and remember trying it (and discounting it) years ago when I was a new Mac convert. But it's improved, really quite something now.
2. New guidance on the new furlough scheme is out
And the other positive is that there isn't much that is new or that we didn't already know.
3.More clients embracing e-commerce
For some businesses the lockdown has forced them to do things online that would never have dreamed of before (restaurants selling takeouts), for others it has just accelerated the process.
Falling into the latter category are friends and clients Paul and Mark Hayward, who run Dingley Dell Pork. As part of their diversification they opened an artisan charcuterie last year and have just launched their products online.
Very tasty the produce is too !
For those tempted, the link is
https://dingleydellcured.co.uk
What am I talking to clients about today ?
Notices of coding are continuing to cause concern. I've mentioned before that HMRC are increasingly trying to tax dividends, rental income and future tax liabilities through notices of coding, therefore through PAYE. And at the same time dumping people out of Self Assessment. All of which is, in my view, madness.
The worst part of this is that under the PAYE regulations, an employer has no choice but to follow the notice of coding issued. And it is taking between two and three months to get notices of coding corrected at the moment.
And something to continue to bear in mind - we don't get sent copies of notices of coding by HMRC. The 'takeaway' from this is tomake sure you send me your notices of coding as soon as you get them.
Until tomorrow, stay safe, stay positive
Adrian
07917 338342
Please - if you do read this far and feel inspired to forward it to anyone and everyone, please do so.
In danger of becoming an 'influencer' here is a picture of some Dingley Dell meats.