TaxCorporate TaxPros and cons of a ‘go-ape policy’

Pros and cons of a 'go-ape policy'

The softly, softy, approach, it seems, will be the strategy the accounting profession takes as it tries to block proposed new self assessment filing deadlines

The problem is that there has been no consultation on the topic of SA filing
deadlines leading up to Lord Carter’s surprise recommendation to shift them
forward.

Also, as if to compound the problem, there has already been disquiet within
the profession that holding discreet and measured discussions with HMRC is not
the answer on this subject. So should accountants go ape with HMRC on this?

Against a ‘go ape’ policy, the supposed clarification of revenue recognition
accounting rules raised concerns that practitioners could be hit with big
one-off tax bills, leading accounting umbrella group CCAB to lobby
paymaster-general Dawn Primarolo for a tax spreading relief, which worked to a
certain extent.

But on the other hand you only have to look back a few months at the furore
brought about by the proposed introduction of the revised Construction Industry
Scheme.

An image of accounting bodies’ indignant heads of tax walking out of talks
with HMRC one by one may strike an amusing image, but there are already whispers
that this should be the strategy to take with the taxman on SA filing.

Kevin Reed is a reporter at Accountancy Age

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