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All news by: Danielle Griffin

Switching to QuickBooks Online from QuickBooks Desktop

QuickBooks have announced that QuickBooks Desktop will be discontinued in the UK. This will mean that there will not be a 2022 edition and they will be ending their full support for the product on 31 January 2023.

What are the MTD tax return changes from 2023/24?

In preparation for the introduction of Making Tax Digital for Income Tax Self-Assessment, the basis period rules for unincorporated businesses are being abolished. In its place, unincorporated businesses will be assessed on the profits actually earned in the tax year.

What are the MTD tax return changes from 2023/24?

In preparation for the introduction of Making Tax Digital for Income Tax Self-Assessment, the basis period rules for unincorporated businesses are being abolished. In its place, unincorporated businesses will be assessed on the profits actually earned in the tax year.

Extension to recovery loan scheme

The Recovery Loan Scheme (RLS) is currently open to businesses of any size to support them to access loans and different kinds of finance so they can rebuild after the pandemic and pandemic transition period, this replaced the former schemes of CBILS and BBLS.

Tax Diary January and February 2022

Key dates for your diary in January and February 2022.

What negatives came from the October 2021 Budget?

The October Budget 2021 was a mixture of both positive and negative news for UK residents and businesses. We have highlighted key negative news for both.

Understanding the benefits of using cloud tools when creating a cash flow forecast

Every business should monitor and understand their cash flow. To fully understand your business’ cash flow, you will need the most up to date financial information about your business. Cloud accounting software gives you the ability to access your business’ whole financial picture all in one place, at any time. 

XERO LAUNCHES MULTIFACTOR AUTHENTICATION

During the course of this year, all Xero users will have to set up multifactor authentication to meet the changes. Xero users are able to choose between two different authentication combinations, for example your email address and password, with something that has an authenticator app, like a tablet of smartphone. 

Am I eligible for the next Self-employed income support scheme grant (SEISS)?

If you became self-employed after 5 April 2019 and you have submitted your 2019-20 tax return before 2 March 2021, you may be eligible for the next two Self-Employed Income Support Scheme (SEISS) grants for the quarter end 30 April 2021 and the final claims period to 30 September 2021.

Smart Data laws on the way?

Consumers and small businesses will benefit from better deals and savings through innovative services, thanks to new Smart Data laws proposed by government.

Reporting to HMRC every quarter to go ahead in 2018​

The Government and HMRC remain committed to the "Making Tax Digital" project with more information being sent online to HM Revenue and Customs (HMRC) by employers, pension funds, banks and other institutions.

Reporting to HMRC every quarter to go ahead in 2018​

The Government and HMRC remain committed to the "Making Tax Digital" project with more information being sent online to HM Revenue and Customs (HMRC) by employers, pension funds, banks and other institutions.