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Making tax digital - VAT etc
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- Lemon Quarter
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Re: Making tax digital - VAT etc
I still think it is better to argue on these specifics rather than on the issue of whether or not having a digital tax system is a good idea.
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- The full Lemon
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Re: Making tax digital - VAT etc
johnhemming wrote:Sorry about the mistake. You are right. I am not surprised if HMRC did not worry about it in practice, but there is always a question as to what the rules strictly said.
I've always maintained that HMRC actually has two sets of rules. There are the published rules. Then there are the published rules that are not actually monitored or cared about. Knowing the latter is a very valuable piece of knowledge but since it isn't published you just have to figure it out by experience i.e. trial and error.
Or talk to someone who knows these unwritten rules. One of the things I like about my accountant is that he used to work for HMRC, so he knows first hand what they look at and what they don't care about. This sometimes takes the form of my wanting to provide extra information or documentation that appears to be required, and he will say something like "Don't bother, that's not what they look at".
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- Lemon Quarter
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Re: Making tax digital - VAT etc
Luckily, I don't do any of that.
I am flat rate VAT and don't have purchase invoices. I run cash accounting and just keep a very basic sheet showing incomings, outgoings, invoices, VAT due, bank account summary.
Accountant does the rest at the end of the year.
Mel
I am flat rate VAT and don't have purchase invoices. I run cash accounting and just keep a very basic sheet showing incomings, outgoings, invoices, VAT due, bank account summary.
Accountant does the rest at the end of the year.
Mel
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