Page 25 - DIY INVESTOR MAGAZINE - NOVEMBER 2018
P. 25

        IT TAKES A DEBT OF AS LITTLE AS £750 TO ATTRACT A WINDING-UP PETITION, SO EXPECT TO READ A DEAL MORE ABOUT BUSINESS DEATHS
All of this is taking place against the backdrop of HMRC insisting on bringing in Making Tax Digital in 2020 or 2021, meaning 4 tax returns a year to be submitted
late, attract penalties and late interest at 3.25% on, and generally add to the sense of frustration, divide, and outright anger that we feel.
It shows what I have previously identified as a fundamental lack of trust from HMRC towards us self- employed – surely we can all work together with shared objectives such as paying a fair amount tax through a simple system?
We don’t mind it being more regular, it helps us with our planning and keeps us on top of things.
What might help is a consultation with us on the massive difficulties we face in completing our Tax Returns.
I have just helped a client new to self-employment through that task of Hercules, someone who is excellent at their job, very concerned at keeping proper records and doing everything by the book, and yet was completely overwhelmed by an extraordinary online form that asks arcane questions and seems to have been created with one aim in mind: to catch us out and make us feel like criminals. There are bigger fish out there to catch in your net, Mr Hammond...
   Click the logo to visit
  25 DIY Investor Magazine | Dec 2018


























































































   23   24   25   26   27