Many practitioners will be engrossed in the annual chore of submitting clients’ self-assessment tax returns before the 31 January deadline – that and chasing clients for missing information.
The Christmas break should be a time for rest and recuperation and yet this year there are not only unfiled tax returns demanding attention, but there is also the ghost of Christmas future reading from its Brexit script.
Less than one hundred days until the 29 March deadline and we still don’t know if its no-deal, deal, second referendum or no Brexit.
Just two days after the Brexit deadline, there’s Making Tax Digital to consider. Imagine being the government developer that is responsible for switching over to the new VAT delivery system on 1st April 2019. Finger’s crossed.
If there is one thing that could and must be achieved in 2019, and the earlier in the year the better, it’s certainty. How the powers that be expect businesses to plan when the rules of engagement with our largest trading partner, the EU, are still an unknown beggars belief. Most of us make investment decisions based on a reasonable certainty that we can achieve a realistic return on our investment. Without this confidence there will be a temptation to sit on our cash reserves and ride out the economic storm that would appear to be on its way.
Never-the-less, let’s make the most of the Christmas hiatus. Most of us will return to the office after New Year and this will be the last post on our blog before 2019. May all your problems for the next two weeks be solved by pain killers or hair of the dog. Merry Christmas, and in spite of everything uncertain, a very healthy and prosperous New Year.