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How else can we make this work?

Whilst AIM can be used by businesses who don’t have an advisor, it has the possibility to strengthen the relationship between the advisor and their client as it encourages regular communication throughout the year, closer to the time the transaction occurred rather than at year end.

How can we implement AIM so that it works to everyone’s advantage?

Comments

Kylie Cronin
I am an accountant and I think AIM is a fantastic proposal. However, with the new UOMI rules meaning no UOMI will only be charged from the 3rd provisional tax date, I see a HUGE increase in our workload from 1 April to 7 May each year. We can barely cope with the workload from our larger clients wanting to get each provisional payment right, but now with all smaller clients (who used to just rely on paying standard uplift) wanting to have their tax mostly up to date by 3rd prov, I don't know how we'll cope. Have you considered moving the deadline for P3? We could easily cope with this for the client's who have their GST done by us, but for those clients completing their own GSTs they will want us to do a year-end review. If they can't get reviewed in time for P3, guess who's going to get the blame when there are UOMI charges... the accountants. The only other answer is to increase staff levels but then what do we do with the extra staff after that busy period? Either the due date needs to be shifted out to June or probably even July, otherwise could the UOMI date be changed?

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2 months ago
Bruce Stone
I can see many clients being duped by software sales people that they can do everything themselves and their accounting bills will come down. The reality is the more the client does the bigger the mess the tax advisor has to sort out later, usually with little gratitude from the client or the Department.

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you disagreed.
2 months ago
Jane Fitzgerald
Have a sound discussion with accountants as they perform the end year details for a range of clients and if this was to increase their workload substantially some timing changes would need to be made to allow for this.

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2 months ago
Susan
Keep it simple. More time spent with accountants just ends up costing £

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2 months ago
Sandra Kraakman
How can you make this work? By talking to those who do the work regularly and have to meet tax deadlines - the accountants. I can see that this will put huge pressures on them.

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2 months ago
Maree
keep it simple. Cut out using accountants for bookkeeping and use as financial advisors only.

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1 month ago
Toni Walker
I have a lot of reservations about this proposal currently. It is designed for small businesses but the government is adding regular technical adjustments already to the process. In my experience as a Chartered Accountant a software system is only as good as the skills of the person using it & I have seen both success & failure in this from clients. This is currently far too complex for small businesses & needs a lot more thought as the "devil is in the detail" of this proposal. It is interesting to observe how it is being promoted for its simplicity which appears to taxpayers naturally, but on reading the detail currently I don't think it will actually play out that way. Please think more simply if you are going to progress with this idea.

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1 month ago
Margaret Baker
Hi, It has been a point made to accountants regularly that they are now expected to add value instead of just focusing on compliance issues for their clients. So I am welcoming this opportunity to remove the complexity of compliance allowing me to focus on the clients business success. It is a work in progress at this stage and it is my hope that this new system will provide efficiency for both the advisor and the client moving forward.

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1 month ago
Raewyn
I'm thinking that the AIM system is going to suit some people but definitely not all people with small businesses. As I've been going through question after question most of it has little relevance to the way our business is run. We've simplified, streamlined, and made things so basic that it takes very little time to manage our books. I enjoy working with my spreadsheets, used to work in an accountants office so know what is required and think AIM is definitely not for our situation. It would suit businesses that have complexity built in by necessity but we don't fit much of the criteria spoken of throughout the whole discussion that I've seen so far.

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1 month ago
Nicola Wynne
Keep it simple and expect an annual washup. If you end up making it complicated the mistakes will increase as most only use tax advisers for annual accounts

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1 month ago
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