Simon Sweetman is 'poacher turned gamekeeper' (my phrase) in the tax world. Earlier today, I recorded a conversation with Simon which is reproduced below as a podcast.
Highly knowledgeable and vigorous defender of the small businessman, Simon discusses a variety of issues including IR35, revenue investigations, s.19A and the publican's scare from possible VAT visits. He also has a take on ELS/FBI.
The central message that comes across regarding IR35, investigations and VAT visits is simple: DON'T PANIC. The situation in all cases has been overblown (especially in the popular Accounting press) and that in Simon's practical experience to date, HMRC have as many hurdles to overcome as you do.
The good news is that the small business investigation is proving something of a dead duck for HMRC and they are looking at ways of going after the really big fish - following KPMG's experience, there is a sense that HMRC fancy having some of that kind of action...
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<< click here to download the MP3 file
Show notes to guide you to stuff you're interested in (remember, you don't have to listen to everything - you can skip through to things of interest to you:
00:00 - 00:30 - Intro including music from Sinch - Identity Theft
00:31 - 02:14 - Simon's background and the services he offers to practitioner
02:15 - 05:48 - The current anti-avoidance climate
05:49 - 07:34 - a demoralised HMRC, IR35 not producing as anticipated
07:35 - 08:52 - more case, but no problems arguing status
08:53 - 11:03 - construction industry status cases
11:04 - 13:03 - penalty issues in status cases
13:04 - 15:33 - managing appropriate contracts
15:34 - 18:03 - is the government trying to help ease the burden of small business? Apparently so.
18:04 - 22:12 - VAT compliance letters are effective. "I got one" (Simon helped frame the wording for the VAT folk)
22:13 - 22:53 - the reality of unannounced publican visits - forget it - they're back peddling to some extent
22:54 - 23:10 - take advice early, especially if you're uncomfortable with the 'new' regime
23:11 - 24:48 - s.19a cases and current revenue attitudes (combative!)
24:48 - 26:32 - avoid the big boys...and lawyers (mostly)
26:33 - 27:33 - government consultation groups activity
27:34 - 29:25 - average tax take on small business investigation cases? c.£500 - uneconomic, for everyone
29:26 - 34:03 - big boys and major schemes at risk, but HMRC and big boys cosying up
34:04 - 37:19 - Small Business Review - government may not deliver
37:20 - 41:48 - ELS/FBI - HMRC unlikely to move start date
41:49 - 43:32 - can 'we' learn from the French (yes!)
43:33 - 43:48 - closing remarks
43:49 - 44:38 - outro and closing music: The Honour Recital, Pain Will Ease
Music for download can be found at PureVolume
In order to listen to this podcast, you will need an MP3 player like Real Audio. If you want to download to your iPod then you will need iTunes. This podcast has been automatically uploaded for RSS so if you want to access it from FeedDemon for future listening then you can grab it from there.
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