Heym SR20
Well-Known Member
I could be out doing anything else, instead turning that box of receipts into my accounts to do a P&l for my tax return.
VAT does a flat rate scheme, where I pay a proportion of my income as VAT return - takes ten minutes.
Instead for tax having to enter all the paper clips, postage and other expenditure etc. it's a good day of my time when I could be something productive or fun or indeed both. Or I could pay an accountant to do it.
Multiply myself across the UK - there is a huge amount of wasted time where self employed spend hours adding up bits of paper, or their accountants are doing the same - what a complete waste of productive effort.
so if it works for VAT why should nt it work for income tax for small businesses.
VAT does a flat rate scheme, where I pay a proportion of my income as VAT return - takes ten minutes.
Instead for tax having to enter all the paper clips, postage and other expenditure etc. it's a good day of my time when I could be something productive or fun or indeed both. Or I could pay an accountant to do it.
Multiply myself across the UK - there is a huge amount of wasted time where self employed spend hours adding up bits of paper, or their accountants are doing the same - what a complete waste of productive effort.
so if it works for VAT why should nt it work for income tax for small businesses.