The Duty to Correct Already Existed. Now It Costs 20 Years
HMRC's draft duty to correct is read as a new obligation. Section 118(6) TMA 1970 already required it. The draft swaps one word, and six years becomes 20.
Personal
Opinion pieces, personal takes, and articles written exclusively for this blog.
I Want to See the Stockroom Before I Sign the Stock Sheet
Closing stock is the one figure in a small company's accounts that nobody independently tests. Here is what I ask for before I book the number.
Your Client's Rent Goes in the Notes. His Salary Doesn't
From January 2026, FRS 102 Section 1A drops the arm's-length carve-out for small company related party disclosure. What now lands on the public register.
Withdrawing a Tax Appeal Is Final. Even When You Were Misadvised
An agent's email withdrew a £233,013 VAT appeal. Section 85(4) made it final after 30 days, and the 28-day reinstatement letter arrived two months late.
The 40% Allowance Has No CT600 Box. I Use 725 and 760
The 40% first-year allowance has applied since January 2026, but the CT600 has no box for it until April 2027. Where I put the claim in the meantime.
Four Jobs I Won't Take Off My Clients' Hands, and Why Not
Most accountants sell maximum absorption. I hand some of it back on purpose: invoicing, credit control, payment approval. Here is the line I draw, and why.
He Verified His Own ID. His Co-Director Didn't. He Was Fined
The first Insolvency Service convictions for identity verification landed on 16 September. One director had verified himself. His co-director had not.
HMRC Stops Naming Smaller Defaulters. I Lose My Best Lever
From 2 October HMRC only names deliberate defaulters above £50,000. I counted the list: 56 of 149 names fall below the new line. What replaces the argument.
Nobody Is Backing Up Your Cloud Ledger. Including Me
Xero archives your file when you stop paying. QuickBooks deletes it after a year. HMRC wants six years of records. Here is what I export, and when.