Directors and “Phoenix” Companies

A number of indivuduals exploit the Ltd Company structure to constantly rack up debt, put the company into Administration and then set up a new Company, which acquires the previous business. this should be stopped- for both Individual creditors and HMRC, who must lose considerable sums due to this activity. Receiver's should be told-by legislation if required, that if a Company fails, that business must be put up for sale on the open market and not sold to the previous directo(s), in what is often a pre-packged deal.

Why is this idea important?

A number of indivuduals exploit the Ltd Company structure to constantly rack up debt, put the company into Administration and then set up a new Company, which acquires the previous business. this should be stopped- for both Individual creditors and HMRC, who must lose considerable sums due to this activity. Receiver's should be told-by legislation if required, that if a Company fails, that business must be put up for sale on the open market and not sold to the previous directo(s), in what is often a pre-packged deal.

small business rate relief and micro companies

The rating sysyem on small industrial premises where most small business operate is disproportionate to the revenue that these companies make. Currently there are only two provisions in the system either you own a small business defines as having a turnover of, I think a million or less and large business as having a turnover exceeding this amount. How about emerging micro companies. I myself have a micro company operating making small boats for the uk market our turnover is less than £175,000. However I pay rates the same as a company doing almost 6 times the turnover. I propose that micro companies in manufacturing should get a quarterly sliding scale of rates defined from the profits made and not set down as a fixed monthly figure which sometimes is not achievable on a monthly basis to pay. I have only 2 full time workers and 2 part time. I am doing what I can take drive the business forward but realistically, a sliding scale set within the current system would ensure that the business could grow much more quickly and not have the headache of facing court enforced payments when things are slow. This would also save money on courts and other areas..  I am fairly sure no one will even read this but who knows.. Best regards Jonathan www.jrsmarine.com

Why is this idea important?

The rating sysyem on small industrial premises where most small business operate is disproportionate to the revenue that these companies make. Currently there are only two provisions in the system either you own a small business defines as having a turnover of, I think a million or less and large business as having a turnover exceeding this amount. How about emerging micro companies. I myself have a micro company operating making small boats for the uk market our turnover is less than £175,000. However I pay rates the same as a company doing almost 6 times the turnover. I propose that micro companies in manufacturing should get a quarterly sliding scale of rates defined from the profits made and not set down as a fixed monthly figure which sometimes is not achievable on a monthly basis to pay. I have only 2 full time workers and 2 part time. I am doing what I can take drive the business forward but realistically, a sliding scale set within the current system would ensure that the business could grow much more quickly and not have the headache of facing court enforced payments when things are slow. This would also save money on courts and other areas..  I am fairly sure no one will even read this but who knows.. Best regards Jonathan www.jrsmarine.com

Remove Work Permit Regulations and Lower Tax Rates in Football

As a keen football fan I want to see the best footballers playing in the Premier League. However, due to high tax rates and work permit restrictions this doesn't always happen. Players get attracted to lower tax rates in other countries and some emerging players cannot get moves due to work permit restrictions.

Lets make this area one which doesn't apply or flex the rules much more so that we can continue to get good footballers.

Why is this idea important?

As a keen football fan I want to see the best footballers playing in the Premier League. However, due to high tax rates and work permit restrictions this doesn't always happen. Players get attracted to lower tax rates in other countries and some emerging players cannot get moves due to work permit restrictions.

Lets make this area one which doesn't apply or flex the rules much more so that we can continue to get good footballers.

PLEASE READ URGENT lower the multipler on business rates and either reduce VAT for food outlets or put it on ALL food

I have been trading for 4 years and in the last 3 years my business rates have been enough to pay.( I live in Millom Lake District ) This next 5 years have seen seen an increase of over £5k.This is not acceptable.I have challenged this and this now all comes down to the multiplier that the Copeland council uses.I live in a small town with hardly any facilities yet I am paying more rates than a very much bigger town (Kendal).I have been told that as Copeland as no money this is why I am suffering.The town where we trade and live has not a lot of jobs so trying to survive is paramount so we do not have to put people on the dole.Nobody wants to listen to us local businessess even my local MP cannot do anything PLEASE HELP.

 

My next groan is VAT

As a restaurant we cannot claim VAT on any food product YET your government is happy is charge us VAT on ALL our sales.Every 1/4 I have to pay approx £4K yet if VAT was put on food we will be able to start making some form of profit. PLEASE consider some kind of help for small trademan especially those in the food trade.We opened this business to give my children a future and if things do not change they will ave to either go on the dole or work for somebody else.

Many thanks for reading this small plea

 

Mrs G Dicorato

Why is this idea important?

I have been trading for 4 years and in the last 3 years my business rates have been enough to pay.( I live in Millom Lake District ) This next 5 years have seen seen an increase of over £5k.This is not acceptable.I have challenged this and this now all comes down to the multiplier that the Copeland council uses.I live in a small town with hardly any facilities yet I am paying more rates than a very much bigger town (Kendal).I have been told that as Copeland as no money this is why I am suffering.The town where we trade and live has not a lot of jobs so trying to survive is paramount so we do not have to put people on the dole.Nobody wants to listen to us local businessess even my local MP cannot do anything PLEASE HELP.

 

My next groan is VAT

As a restaurant we cannot claim VAT on any food product YET your government is happy is charge us VAT on ALL our sales.Every 1/4 I have to pay approx £4K yet if VAT was put on food we will be able to start making some form of profit. PLEASE consider some kind of help for small trademan especially those in the food trade.We opened this business to give my children a future and if things do not change they will ave to either go on the dole or work for somebody else.

Many thanks for reading this small plea

 

Mrs G Dicorato

Reduce company late filing penalty from £1500

A company with less than £100,000 revenue that is more than three months late in filing its accounts will be charged £1500 penalty with no possibility to reduce it.  This means an additional tax far out of proportion to the damage caused.

When a company owner is trying hard to keep their business afloat making sure the accounts are filed is not top of their priority.  Yet the penalty is a huge amount for a business

Why is this idea important?

A company with less than £100,000 revenue that is more than three months late in filing its accounts will be charged £1500 penalty with no possibility to reduce it.  This means an additional tax far out of proportion to the damage caused.

When a company owner is trying hard to keep their business afloat making sure the accounts are filed is not top of their priority.  Yet the penalty is a huge amount for a business

Money laundering rules

The paperwork required to open a new bank account is a substantial burden on banks and individuals. It should be removed unless it can be proved to make a real difference to money laundering. It would be easier to restrict the amount of cash payable into a bank account to control black and grey market transactions.

Why is this idea important?

The paperwork required to open a new bank account is a substantial burden on banks and individuals. It should be removed unless it can be proved to make a real difference to money laundering. It would be easier to restrict the amount of cash payable into a bank account to control black and grey market transactions.

Ring-fence ‘Green’ stealth taxes

 

Ring-fence all 'green taxes' so that they don't go into the treasury pot to top up government spending and must legally be spent on green and sustainable initiatives.

Why is this idea important?

 

Ring-fence all 'green taxes' so that they don't go into the treasury pot to top up government spending and must legally be spent on green and sustainable initiatives.

Reduce Bureaucracy By Reducing Income Tax

Increase the threshold for Income Tax significantly – say to £50,000 p.a and remove most people from the Income tax system – with significant savings in administering income tax. Tax Credits cease to be relevant either.

To replace the revenue increase direct taxation – primarily VAT. There is no consequential increase in the adminstration of VAT as it is collected anyway atthe current rate.

Ensure that essentials are zero rated for VAT ensuring the less well off do not pay the increase.

A tax system then based upon peoples spending and related to whether they can afford it. If you buy the luxuries in life you can afford the tax.

Government should then live within the budget of what the population can afford.

Why is this idea important?

Increase the threshold for Income Tax significantly – say to £50,000 p.a and remove most people from the Income tax system – with significant savings in administering income tax. Tax Credits cease to be relevant either.

To replace the revenue increase direct taxation – primarily VAT. There is no consequential increase in the adminstration of VAT as it is collected anyway atthe current rate.

Ensure that essentials are zero rated for VAT ensuring the less well off do not pay the increase.

A tax system then based upon peoples spending and related to whether they can afford it. If you buy the luxuries in life you can afford the tax.

Government should then live within the budget of what the population can afford.

Tourist tax on flights

Remove this "Gordon Brown wanted a piece of the pie" tax on the one area of the transport network that was actually successful and performing for customers, which is now damaging the industry as per a number of airlines reducing flights and reducing visitor numbers.

 

 

This unfairly targets airlines operating out of the UK whereas many European competitors don't have this tax and have a commercial advantage.

This 'green tax' went directly to the treasury for Gordon Brown to waste on national debt. At least ring fence it to invest in a greener UK airline industry so that we can get ahead from our worldwide competitors.

Why is this idea important?

Remove this "Gordon Brown wanted a piece of the pie" tax on the one area of the transport network that was actually successful and performing for customers, which is now damaging the industry as per a number of airlines reducing flights and reducing visitor numbers.

 

 

This unfairly targets airlines operating out of the UK whereas many European competitors don't have this tax and have a commercial advantage.

This 'green tax' went directly to the treasury for Gordon Brown to waste on national debt. At least ring fence it to invest in a greener UK airline industry so that we can get ahead from our worldwide competitors.

Simplify Corporation Tax

Corporation tax be levied solely on the Reported Profits (capital or revenue) within the annual accounts of a company or group of companies. The only offset being for foreign taxes paid (as now).

The CT tax rates could then be on a sliding scale – say from 0 to 30%. The higher the profits the larger the tax percentage.

Why is this idea important?

Corporation tax be levied solely on the Reported Profits (capital or revenue) within the annual accounts of a company or group of companies. The only offset being for foreign taxes paid (as now).

The CT tax rates could then be on a sliding scale – say from 0 to 30%. The higher the profits the larger the tax percentage.

Abolish Business Rate and increase corp.tax

Abolish the Business Rate.  It is based on assumptions as to the rental value of the site.  It is slow to respond to changing circumstances.  It's appeal process attracts an industry of conmen (often).  It employs an army of civil servants to administer bot h in the Valuation Services and the Local Authority collecting the rate.  The money all (except 5%) go direct to central government.

Why not just increase Corporation Tax/Income Tax for Business people and work out some way of ensuring foreign companies operating in this country also pay something for their site.  This system of collection is a tried and tested relatively simple method, based on facts and figures and directly related to the well-being of the company and its ability to pay.  It is quicker to respond to changes in circumstances.  The appeal industry would cease to be needed doing away with some of the businesses costs that get conned each year. 

Simple, just need to convince the Local Authorites to give it up!!!!

Why is this idea important?

Abolish the Business Rate.  It is based on assumptions as to the rental value of the site.  It is slow to respond to changing circumstances.  It's appeal process attracts an industry of conmen (often).  It employs an army of civil servants to administer bot h in the Valuation Services and the Local Authority collecting the rate.  The money all (except 5%) go direct to central government.

Why not just increase Corporation Tax/Income Tax for Business people and work out some way of ensuring foreign companies operating in this country also pay something for their site.  This system of collection is a tried and tested relatively simple method, based on facts and figures and directly related to the well-being of the company and its ability to pay.  It is quicker to respond to changes in circumstances.  The appeal industry would cease to be needed doing away with some of the businesses costs that get conned each year. 

Simple, just need to convince the Local Authorites to give it up!!!!

Simplify Tax to Save Admin Costs

Why can't the tax year run from 1 January (as it does in the USA)? Running from 6 April one year to 5 April the next is awkward to administer and makes comparisons with other countries' reporting extremely difficult. We should come into line with the global world.

Why isn't Council Tax direct debit collected as 12 equal installments? 

Why do Tax and National Insurance amounts vary each month by just small amounts when the same gross salary is being paid each month? It just makes the calculations more complicated.

 

Why is this idea important?

Why can't the tax year run from 1 January (as it does in the USA)? Running from 6 April one year to 5 April the next is awkward to administer and makes comparisons with other countries' reporting extremely difficult. We should come into line with the global world.

Why isn't Council Tax direct debit collected as 12 equal installments? 

Why do Tax and National Insurance amounts vary each month by just small amounts when the same gross salary is being paid each month? It just makes the calculations more complicated.

 

Abandon HMRC’s compulsory submission of iXRL accounts and CT returns

It is wrong for HMRC to compulsory require the submission of Corporation Tax returns and annual accounts using iXBRL. A cutting edge technology that very few understand or will ever need outside these HMRC requirements. 

Why is this idea important?

It is wrong for HMRC to compulsory require the submission of Corporation Tax returns and annual accounts using iXBRL. A cutting edge technology that very few understand or will ever need outside these HMRC requirements. 

move paye year end from 5th april to 31th march

Having one week of PAYE and NI in a different accounting year (most UK companies have year-end on 31 march) is an unecessary complication for small companies who do their own accounts. 

Why is this idea important?

Having one week of PAYE and NI in a different accounting year (most UK companies have year-end on 31 march) is an unecessary complication for small companies who do their own accounts. 

Remove goldplating from Regulations on content of accounts

Review the Statutory Instruments on the contents of financial statements (SI 2008/409 & 410) and remove anything which is a) not useful and b) not required by the 4th and 7th EU Directives. I would start with SI 2008/410 Schedule 7, paras 2, 3, 4, 5, 10, 11 & 12. I have never seen an informative disclosure on employee involvement or employment of disabled persons, so why require it?

Why is this idea important?

Review the Statutory Instruments on the contents of financial statements (SI 2008/409 & 410) and remove anything which is a) not useful and b) not required by the 4th and 7th EU Directives. I would start with SI 2008/410 Schedule 7, paras 2, 3, 4, 5, 10, 11 & 12. I have never seen an informative disclosure on employee involvement or employment of disabled persons, so why require it?

Take Small Businesses out of VAT with <£250k turnover

Small businesses have too much government paperwork, red tape and tax. Please take any small business out of VAT that has a turnover less than £250,000 p.a.. For the small amount I have to pay, it is a lot of work for me, and probably costs HMRC a dispoportionate amount to collect it.

Why is this idea important?

Small businesses have too much government paperwork, red tape and tax. Please take any small business out of VAT that has a turnover less than £250,000 p.a.. For the small amount I have to pay, it is a lot of work for me, and probably costs HMRC a dispoportionate amount to collect it.

Delay mandatory XBRL filing until after change in UK GAAP

The mandatory filing of accounts with HMRC in XBRL format should be delayed until after the changes in UK financial reporting. Under current plans SMEs are faced with tagging their accounts under current UK GAAP for XBRL, then repeating the exercise when IFRS for SMEs is introduced (likely to be 2013). This is unnecessary duplication of effort. Also, it is not at all clear that the software houses will be properly ready for the current deadline, causing more problems for SMEs.

Why is this idea important?

The mandatory filing of accounts with HMRC in XBRL format should be delayed until after the changes in UK financial reporting. Under current plans SMEs are faced with tagging their accounts under current UK GAAP for XBRL, then repeating the exercise when IFRS for SMEs is introduced (likely to be 2013). This is unnecessary duplication of effort. Also, it is not at all clear that the software houses will be properly ready for the current deadline, causing more problems for SMEs.

Repeal MLR Regs for- IHT advice

Remove the requirement for those giving Inheritance Tax Advice in the course of taking instructions to write a Will to register as an accountancy provider under the Money Laundering Regulations

Why is this idea important?

Remove the requirement for those giving Inheritance Tax Advice in the course of taking instructions to write a Will to register as an accountancy provider under the Money Laundering Regulations

Reform Tax Laws for Expats

At present the tax laws allow UK expats to enter the country for 90 days (I appreciate that this is a roungh calculation based on rolling tax years), the rest of the European Union is on average 180 days per annum, prior to any tax liabilities.

This stops UK expats from investing into the UK as there is little or no incetive for them to do so. For example I spend all my time in other parts of Europe when not in work, I have invested in properties, I spend money on food, fuel, health and continualy look for other investment opportunities. I never look in the UK because as soon as I enter the country the clock starts ticking, at 90 days that doesnt even allow time to buy a house.

Repeal the existing laws, replace it with 180 days allowance then proportinal tax, for example the next 30 days at 10p in the pound, the following 30 days 30p etc.

Why is this idea important?

At present the tax laws allow UK expats to enter the country for 90 days (I appreciate that this is a roungh calculation based on rolling tax years), the rest of the European Union is on average 180 days per annum, prior to any tax liabilities.

This stops UK expats from investing into the UK as there is little or no incetive for them to do so. For example I spend all my time in other parts of Europe when not in work, I have invested in properties, I spend money on food, fuel, health and continualy look for other investment opportunities. I never look in the UK because as soon as I enter the country the clock starts ticking, at 90 days that doesnt even allow time to buy a house.

Repeal the existing laws, replace it with 180 days allowance then proportinal tax, for example the next 30 days at 10p in the pound, the following 30 days 30p etc.

Reform of Benefit Payments, the National Minimum Wage and Unemployment statistics

I believe that there should be a reform of both the system of benefits in this country, in line with a reform of the national minimum wage. If minimum wage had increased at the same level as the average cost of living, it would be much higher than the current rate of £5.80 per hour. This could decrease the number of people who were relying on benefits as the incentive to take a job, even a job at the minimum wage, would reap better rewards.

The amount of money paid as benefits should be decreased. A serious review should be conducted into the cost of living for families. This should include basic costings such as the price of food, rent, bills and clothing per person – specific to each area. This is the amount that the Job Seeker's Allowance should be based on. People should live on the breadline and consider the consequences of spending every penny. This would encourage people to search for jobs, in order to live more comfortably.

Disability living allowance should be more tightly regulated and the conditions for payment should be reformed (and if nothing else should no longer include blisters, indigestion, warts, coughs and sore throats). I am not heartless and understand the necessity of these benefits for people who genuinely can't work and appreciate that those who are truly needy should receive this help but it is currently too easy to abuse.

Why is this idea important?

I believe that there should be a reform of both the system of benefits in this country, in line with a reform of the national minimum wage. If minimum wage had increased at the same level as the average cost of living, it would be much higher than the current rate of £5.80 per hour. This could decrease the number of people who were relying on benefits as the incentive to take a job, even a job at the minimum wage, would reap better rewards.

The amount of money paid as benefits should be decreased. A serious review should be conducted into the cost of living for families. This should include basic costings such as the price of food, rent, bills and clothing per person – specific to each area. This is the amount that the Job Seeker's Allowance should be based on. People should live on the breadline and consider the consequences of spending every penny. This would encourage people to search for jobs, in order to live more comfortably.

Disability living allowance should be more tightly regulated and the conditions for payment should be reformed (and if nothing else should no longer include blisters, indigestion, warts, coughs and sore throats). I am not heartless and understand the necessity of these benefits for people who genuinely can't work and appreciate that those who are truly needy should receive this help but it is currently too easy to abuse.

HMRC powers

remove the rights of the HMRC of invading a persons private space – their powers are  now totally out of proportion to what they need to get their job done, and effectivly they can operate outside the laws which individuals are forced to live by.  Ban them form snooping on social websites etc such as facebook etc – make this type of activity illegal.

Why is this idea important?

remove the rights of the HMRC of invading a persons private space – their powers are  now totally out of proportion to what they need to get their job done, and effectivly they can operate outside the laws which individuals are forced to live by.  Ban them form snooping on social websites etc such as facebook etc – make this type of activity illegal.

Reduce the duty on premium drinks

Reduce the duty on premium quality drinks, in particular real ale, real (British) lager (as defined by CAMRA) and real cider (defined as cider made with pure fruit with no additives other than preservatives – exact definition to be supplied by CAMRA), and single malt whisk(e)y.

Why is this idea important?

Reduce the duty on premium quality drinks, in particular real ale, real (British) lager (as defined by CAMRA) and real cider (defined as cider made with pure fruit with no additives other than preservatives – exact definition to be supplied by CAMRA), and single malt whisk(e)y.