Friday, 19 January 2018

The Chairman's Admin Service

Last February we invested a large sum in a start-up using a government SEED scheme which guarantees 50% of your investment back in the tax year following the investment. The paperwork that enabled me to claim the 50% was allegedly sent in the summer of last year, but neither Hayley nor myself could recall receiving the certificate. We've spent an entire week persuading my accountant to lodge the claim without the actual certificate, which he was reluctant to do - and we were fast approaching the end of January deadline for self-assessment. Getting another certificate could take months. I'd actually forgotten about the tax relief - I'd already submitted my self-assessment in November, so it was a case of a retrospective application on having my memory jogged.

Given we were assured by the MD of said company that the certificate was sent by post, rather than via email (as was our assumption), Hay persuaded me to look through my important paperwork file rather than concentrating on my email archive. Hey presto! It was languishing in a little-used section of the filing system, heavily disguised as an HMRC tax certificate for SEED investment. My accountant was happy, Hayley was happy and I was happy and the revised self-assessment was duly resubmitted on Wednesday - enough, near as dammit, for a year's frugal living expenses. It was a close call.

Hay has now suggested I set up a business administration firm.....

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