New tax return deadlines announced in the budget

System

Am I the only one worried about the new deadlines for filing tax returns announced in the recent budget. I struggle to get clients returns in by January each year and in two years time we will have two months less (four for non online filed returns)
Does anyone know if this is definite or just a proposal?

System

Re:New tax return deadlines announced in the budget

Only a proposal at the moment, but knowing this government it doesnt look as though there will be any consultation about it .....

You are not the only one worried - i am too - not only trying to get all my tax returns done in time, bye bye summer holidays, but also more months without tax returns to keep the cash coming in only VAT etc.

Some cynics have suggested that it is a revenue exercise, so that more people are late filing therefore incurring the £100 penalty, others say it is too bring us in line with other EU states (harmonisation of tax one wonders?).

I have heard some people say that they will change their sole trader clients year ends to 30.04.

Just my few rambling thoughts - sorry too late in the day for coherence! :?

Claudia

System

Re:New tax return deadlines announced in the budget

Thanks for the reply Claudia. Looks like it's just me and you panicking.
I had considered the cash flow problems , but your note of losing my summer holidays was such a shock I had to go and lie down. For a week. So sorry for taking a while to reply.

System

Re:New tax return deadlines announced in the budget

I have to say you've given me a few sleepless nights. I work every day including weekends in January just to get those clients who give their things in in December so making them do it beforehand and having to do all our clients in less time worried me!

The only benefit (and it's the tiniest one) is that the December exams wouldn't be so pressured but that will only be effective for a while.

Don't mess with the date, Gordon Brown!!!

System

Re:New tax return deadlines announced in the budget

I wouldnt mind him messing with the date if he brought the year end forward from 5 April to 31 December - then it would be as you were - but i would get Christmas back again.

A financial year end the same as the real year end would be logical (so no point doing that then!) and would just shift the year around by a couple of months. We would all have Christmas and people couldnt use Christmas break as the time to get all their stuff together to give to us in January - so maybe they would be more organised.

Here's hoping, but i wont hold my breath! :idea:

System

Re:New tax return deadlines announced in the budget

I think you have hit the nail on the head Claudia. It makes sense so it can't possibly be done!!!