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Not because of Brexit itself but more because of how incompetently they're handling it thus far and the implications of that: 1. No certainty that our customer
by jarym 9y ago
Not because of Brexit itself but more because of how incompetently they're handling it thus far and the implications of that:
1. No certainty that our customers will remain here or that they'll keep buying. We're seeing larger customers slow down spending.
2. No certainty that we can hire the right people from wherever we need to.
3. Little hope that the government will act in a pragmatic, pro-business manner (in fact, red-tape and the corporate tax burden is all but certain to rise for anyone who's not a large multi-national). HMRC (the tax man) are on some crusade to impose some MTD (Making Tax Digital) program and some other disasters on business, tightening up rules on the use of independent contractors, etc. This is not the government showing flexibility, this is the government going about business as usual whilst squabbling over what Brexit means and leaving the economy unattended.
- alexbilbie 9y agoMaking Tax Digital's aim is to massively simplify tax returns (including VAT returns) for both individuals and businesses. It's whole aim it reduce time it takes dealing with taxes and give a live overview of tax obligations rather than waiting until the end of the financial year (or longer) to find out what you owe. I don't understand how any of that can be considered contentious especially as it's been pushed back to beyond April 2019 for roll out?
- jarym 9y agoQuarterly 'summary' accounts for small businesses that will almost certainly require software and incur penalties if made late or with mistakes. Asking your average market stall trader or a small retail shop to now require that they keep their management accounts up-to-date quarterly (when at the moment it needs to be done annually and the average accountant charges several hundred ££) is why its contentious. Edit: here is a short summary from CIoT: https://www.tax.org.uk/policy-technical/technical-news/making-tax-digital-vat-main-issues-consideration https://www.tax.org.uk/policy-technical/technical-news/makin...