[Info-vax] HP stopping VMS paper documentation ?

[Paul Sture]

On Tue, 06 Dec 2011 15:23:43 +0000, ChrisQ wrote:

> Insofar as most people don't like having to pay tax at all . The problem
> for small business and vat is that a considerable amount of time is
> taken up keeping all the vat returns up to date, purchases in against
> sales out etc, especially if you have the kind of business that handles
> a lot of low value items. You end up being the unpaid tax collector for
> the government and you must also keep up with the rule and exemption
> changes, which are regular and which is why it's disliked.

Ah yes, I recall the various changes, but I honestly think that 
accountants exaggerate the complexity in order to justify their fees.

My first job on receiving my VAT Handbook was to read it from cover to 
cover and take notes.  On a couple of occasions I ended up correcting 
accountants, so maybe for the typical bean counter, it is a taxing 
subject :-)

> Having been registered for vat at one stage, I can tell you that the
> paperwork and on premises inspections to examine the books are a pita...

I disagree, although must admit that I had been running accountancy 
systems at work for many years, so it was familiar territory for me.

Having said that, the first time I did a VAT return, I discovered that my 
calculator wasn't accurate enough and ended up doing the calculations 
with paper and pencil.  The next day I bought a proper accounting desk 
calculator with till roll.

On premises inspections are a good reason to register a company at your 
accountant's address.  I don't think you can do that if you are self 
employed though.


-- 
Paul Sture