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As with all these things, the devil is in the detail
Hmmm... wonder how long this arrangement will be optional? I really do not like the idea of having a direct debit set up with HMRC one little bit.It will allow them to link to their bank account so they can pay in instalments or by direct debit.
Mr Osborne will say that he wants 55 million people to have digital tax accounts by 2020 -
I have my VAT set by direct debit saved me remembering to pay it.Originally posted by Gumbo Robot View PostComment
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NPower, Thames Water, and the BBC to name a few already have the ability to help themselves to my bank account.
How's not doing an SA going to work out for dividends? I suppose it would be nice not to have to enter the information HMRC already knows, but even as a permie I get some small dividends from another company I have a small shareholding in, so I'll still be doing an SA.Will work inside IR35. Or for food.Comment
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Do your VAT amounts not vary?Originally posted by Unix View PostKnock first as I might be balancing my chakras.Comment
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You can have variable direct debits. Your phone bill is one.Originally posted by suityou01 View Post⭐️ Gold Star ContractorComment
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Right. But how does the VAT man know how much to take?Originally posted by PerfectStorm View Post
Knock first as I might be balancing my chakras.Comment
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From the return that is completed by yourself or your accountant, presumably.Originally posted by suityou01 View PostRight. But how does the VAT man know how much to take?Comment
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When you submit your return it has the amount you need to pay, this is what is taken a few weeks later.Originally posted by suityou01 View PostRight. But how does the VAT man know how much to take?Comment
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Direct debits are great as long as you trust the organisation that receives your money. A direct debit to HMRC, what could possibly go wrong?
I add a calendar reminder when my accountant tells me how much I owe, then pay it myself.I'm not even an atheist so much as I am an antitheist; I not only maintain that all religions are versions of the same untruth, but I hold that the influence of churches, and the effect of religious belief, is positively harmful. [Christopher Hitchens]Comment
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