Quarterly tax returns - petition

**SimonMac** · 18 December 2015, 08:23

Originally posted by mudskipper View Post

As is the way with these things, someone has created a petition about the proposal for quarterly returns.

https://petition.parliament.uk/petitions/115895

https://www.gov.uk/government/upload...Accessible.pdf

1.288 (p71)
the Spending Review and Autumn Statement announces that the government will: ...

]by 2020, require most businesses, self-employed people and landlords to keep track of their tax affairs digitally and update HMRC at least quarterly via their digital tax account. HMRC will ensure the availability of free apps and software that link securely to HMRC systems and provide support to those who need help using digital technology. This will not apply to individuals in employment or pensioners, unless they have secondary incomes of more than £10,000 per year from self-employment or property. The government will consult on the details in 2016

Not one to put my head above the parapet, but with RTI, Quarterly billing for VAT and PAYE this does not seem much of an additional overhead, although I assume that quarterly updates will also me money being paid quarterly which is the driver for Hector to get a steady flow if income rather than a big hit once a year

**MarillionFan** · 18 December 2015, 08:40

Originally posted by SimonMac View Post

Not one to put my head above the parapet, but with RTI, Quarterly billing for VAT and PAYE this does not seem much of an additional overhead, although I assume that quarterly updates will also me money being paid quarterly which is the driver for Hector to get a steady flow if income rather than a big hit once a year

Go long on accountancy firms

**SimonMac** · 18 December 2015, 08:42

Originally posted by MarillionFan View Post

Go long on accountancy firms

That was my second thought, anyone who has an accountant I assume would get them to do their return for them, price may go up for the service, but as you are paying for convenience as much as subject matter expertise maybe it will push more people down the route of controlling their accounts themselves

**MarillionFan** · 18 December 2015, 08:46

Originally posted by SimonMac View Post

That was my second thought, anyone who has an accountant I assume would get them to do their return for them, price may go up for the service, but as you are paying for convenience as much as subject matter expertise maybe it will push more people down the route of controlling their accounts themselves

I can see why they're doing it. It's like with companies and invoices, longer pay terms mean longer to get your money. But's it's a faff.

I've been on to the petition site, but decided to sign the Free Beer on Friday & 50p Price Cap on Northern Prostitutes petitions instead.

**Zero Liability** · 18 December 2015, 08:46

Yes and incrementally it'll get worse and worse if you don't draw the line at some point. Just because you're already experiencing hassle in providing info does not mean it should get even worse, particularly under a 'business friendly' govt.

**SimonMac** · 18 December 2015, 08:51

Originally posted by Zero Liability View Post

Yes and incrementally it'll get worse and worse if you don't draw the line at some point. Just because you're already experiencing hassle in providing info does not mean it should get even worse, particularly under a 'business friendly' govt.

Well that is the thing, its not really a hassle to do quarterly VAT and PAYE (especially for those who get their accountant to do it

)

I would be interested to see if any of the accountants on the forum have an opinion on this, will it be more work for them? Will they put the prices up to compensate? If so it then doesn't become a hassle issues, its a financial decision

**eek** · 18 December 2015, 09:03

Originally posted by SimonMac View Post

Well that is the thing, its not really a hassle to do quarterly VAT and PAYE (especially for those who get their accountant to do it

)

I would be interested to see if any of the accountants on the forum have an opinion on this, will it be more work for them? Will they put the prices up to compensate? If so it then doesn't become a hassle issues, its a financial decision

For those with automated systems (crunch say) it will be painless. For others probably a lot more work and an excuse to get automated.

Going back to the original point the issues are:-

1) the guinea pigs about to be subjected to the system (if its anything like the new CT600 forms

)...
2) quarterly forms aren't a hassle if you are used to them and have systems already in place, if you don't its going to be a big change.
3) when money is paid hasn't been specified yet. You would guess the purpose is for HMRC to get money in earlier but that isn't explicitly stated and its clear HMRC have forgotten that many companies have 9 unprofitable months followed by 2-3 profitable months that pay for the entire year.

**SimonMac** · 18 December 2015, 09:05

Originally posted by eek View Post

For those with automated systems (crunch say) it will be painless. For others probably a lot more work and an excuse to get automated.

Going back to the original point the issues are:-

1) the guinea pigs about to be subjected to the system (if its anything like the new CT600 forms

)...
2) quarterly forms aren't a hassle if you are used to them and have systems already in place, if you don't its going to be a big change.
3) when money is paid hasn't been specified yet. You would guess the purpose is for HMRC to get money in earlier but that isn't explicitly stated and its clear HMRC have forgotten that many companies have 9 unprofitable months followed by 2-3 profitable months that pay for the entire year.

The last point is moot as this seems to be personal tax returns, so they assume its steady throughout the year

**mudskipper** · 18 December 2015, 09:16

Originally posted by SimonMac View Post

The last point is moot as this seems to be personal tax returns, so they assume its steady throughout the year

I took it to be business returns - i.e. corp tax.

Quarterly tax returns - petition