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The Positive Accountant - Vol 2 Ed 35

Updated: Jan 30, 2021

The Positive Accountant - Vol 2, Ed 35

I wasn't expecting my proverb of Edition 34 to be controversial.

The official translation was "Better to be a dog in times of tranquility than a human in times of chaos."

Many have pointed hat it should be abbreviated, to 'Better to be a dog.'

As has been pointed out:-

- No worries about viruses;

- If you don't like another dog it's OK to bark and snarl

- No money worries

- No tax

- No-one expects you to like cats

- You have to do as you are told, but probably have more respect for your family/owner than the rest of us have for our politicians

That's all pretty convincing, even leaving out the rude ones (of which there were lots).

What are my positives today ?

1. Henry has a new engine

This one demonstrates the power of positive thought.

I've been struggling with an oil pressure problem recently and so this morning I took my plane to a local aero mechanic in Norfolk. (Only in Norfolk would you find a village with an aerodrome called Liittle Snoring. Presumably - and I ought to to check - next door to Greater Snoring)

Whilst there, a Tiger Moth landed (really impressively) which the owner had brought it in for some minor adjustments to its new engine installation. We got talking about aircraft and whilst he was interested in my new fangled (built 1973 !) plane, I asked about his venerable Tiger.

He refused to tell me his age but did say he bought it when he was 19 and it will be the 50th anniversary of owning her later this year. Over that time he has flown it most weeks, and this is his third new engine.. That is one every sixteen years on average.

He was telling me that every engine he has had has made the plane fly differently, and at each change he has learned how to make the next one easier. This one has an automatic carburettor heater.

Without any irony whatsoever he said he wasn't keen on that feature, but rather than bother modifying the carburretor he will make sure that when he changes the engine next time that it has a manual carb heat.

2. Silly Signs continue to arrive (AGAIN)

This one from a fellow Scuba diver.

Scuba gear always has warnings about what can go wrong if it is used incorrectly or without the right training. That's insurers and lawyers for you.

But this particular one relates to an underwater camera housing. I think even Google Translate couldn't be guilty of this - 'Use this and you will die'

3. The Bank of England are only expecting a 9.5% shrinkage this year

Granted that ordinarily this would be a disaster. But in May they were thinking 20%. It's never the size, its the context...

In other articles there were suggestions that we might, after all, see a V-shaped recovery overall (although this is going to have some huge sector variations.)

Tomorrow is a VAT deadline (7th August, for filing June quarter ends). Maybe people are out of practice but here are a few reminders:-

- Yes, the payment is due and cannot be deferred

- If it's not paid by direct debit, cleared payment by electronic transfer is due tomorrow

- If you cancelled the direct debit to take advantage of the deferral last quarter, you will need to recreate it, but

- You are probably too late to create a direct debit for this quarter, so pay it 'manually'

- If you are struggling to pay it, contact HMRC and agree a payment plan

- There is a surcharge but only if you are late paying twice in a rolling 12 month period. Keep a track on this !

- We are still in a 'light touch' regime - no penalties - if you should have signed up for Making Tax Digital (Digital bookkeeping and filing of VAT returns), but that will run out in March next year

- The deadline for filing is midnight tomorrow (the 7th)

Stay safe, stay positive


This is a definite positive, the oil pressure needle needs to stay where it now is....

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