Re: What categories do these expenses fall into ?

Martin wrote:

"Tim" <me@xxxxxxx> wrote in message news:VIqdncNM68Gv_O_bRVnysAA@xxxxxxxxx

Common sense then would be to round each figure to the *nearest*,
and ignore the fact that the sum might not "appear" to add up properly...

Eh? RR didn't suggest getting the total wrong - just the opposite in
fact. Which is why I agree with him.

Maybe what to me is common sense (and standard practice) isn't so common
after all :-((

Maybe we can just agree that Tim is a pretty uncommon kinda guy.

"Martin" wrote
... - but if you enter non-balancing figures in their
on-line SATR system, I imagine it'll reject them.

Hmmm. If using the common-sense approach leads
to HMRC's system rejecting them, what to do?!

Could it be that HMRC's system does the sums for you, so there is no
opportunity for you to enter your rounded total, and hence for it to
reject it?

I noticed the other day that HMRC's online VAT system
will round the figures you enter, if you type in the accurate
(to the penny) amounts. I think all numbers were rounded
in the taxpayers favour ("income" down, "expenses" up).

As with most of HMRC's "rounding rules", things operate in the taxpayers'
favour. PAYE coding is another example - can give you a whopping £9 more
tax-free pay than you're entitled to... though this is lost if you then
have to complete a SATR :-(((

Don't you lose it anyway, even without a SATR, on the basis of the
cumulative info they already hold, and that tax underpaid will filter
through to the following year's notice of coding?

.

Relevant Pages

  • Re: What categories do these expenses fall into ?
    ... is just that -- the accurate sum, ... computed as the sum of any rounded numbers. ... Common sense then would be to round each figure to the *nearest*, ...
    (uk.business.accountancy)
  • Re: VaTech - the illegal immigrant of the BCS
    ... [Jefferson N. Glapski | jeffersonWEARE@xxxxxxxxxxxxxxxxxxxx] ... to the point where common sense appeals to you, ... You still surprised that Vick wasn't drafted in the 2nd round? ... waste my time explaining what I meant, again, to a total idiot. ...
    (rec.sport.football.college)
  • Re: MI5 chief defends the use of torture
    ... > I'm not an expert in such fields, but I am blessed with common sense. ... > seems to me that if foreign nationals are going to be subjected to ... round with a person strapped onto it, the person was dipped into a tub ... at the reactions to that....yer yer yer. ...
    (uk.legal)
  • Haye v Maccaranelli
    ... Common sense says Haye with a 6th round KO. ... He has proven he can deliver the KO punch when he needs too. ...
    (rec.sport.boxing)
  • Re: Rounding errors
    ... >>I think that the averages for the separate sums of the rounded set and ... >>the original set will almost always be slightly different for ... >Common sense says that if exactly half round up and half 'round down' ... Common sense says that heavier objects fall faster than lighter ones. ...
    (comp.lang.cobol)