Digitalising the tax system has been a hot topic on the government’s agenda for several years now. My earlier blog “I’m a sole trader – will I need to submit 4 tax returns a year?” outlined the government’s initial proposals on Making Tax Digital (MTD). The last year has seen a huge response from the […]
Budget 2017: Key points for small business owners
It would appear that small businesses and the self-employed have once again come into the firing line through measures introduced in the Chancellor’s Spring Budget. For the full 68 page report on the Budget 2017 you can click here. In the meantime, here are the key points affecting small business owners: Compliance with Making Tax […]
Why is everyone talking about Xero?
As an accountant, I regularly receive calls from software companies, inviting me to trial their product. So when I was first approached by Xero I have to admit that my initial reaction to the “salesy“ (although admittedly slick) marketing pitch was to run a mile. But actually, Xero proved to be anything but an […]
Can I still claim tax relief if I lose a receipt?
You sit down to tackle the mound of paperwork in your weekly, monthly or dare I mention annual bookkeeping ritual (click here for why this isn’t a good idea) only to discover you’re missing receipts for expenses you know you’ve incurred. You understand that “allowable” expenses are a good thing when it comes to working out […]
I’m a sole trader – will I need to submit 4 tax returns a year?
You’re a sole trader running a small business. You’re feeling comfortable with the whole annual self-assessment tax process and you’ve mastered Excel spread-sheets. But, brace yourself. The government has planned a big digital overhaul of the tax system with a raft of new tax changes coming your way. The rationale behind the “Making Tax Digital” plan is HMRC’s […]
7 things you can do using online accounting software that you can’t do with Excel
You’re a small business owner managing your own bookkeeping using Excel. But recently, the complexity of the business has changed. You’re trying to muddle through with the same old processes and procedures but inside you’re crying out for some order, some structure (and a bit of a breather). Can you relate? When it’s OK to […]