TSB to shut 82 branches in cost-cutting move

TSB is to close 82 branches next year in a further blow to the UK’s cash-based small businesses. It is cutting up to 400 jobs as part of a strategy overhaul aimed at saving £100m by 2022. The move, announced this week, has been strongly criticised by the Unite union, which urged the company to reverse the “appalling decision”. National

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Episode 1 – from finance to entrepreneurship

Episode 1 of the IAB Podcast. From finance to entrepreneurship. Learning to see the changes and making decisions. Interviewing Matthew Peng from Scoro Matthew graduated in Accounting and Finance, before accidentally falling into supporting and implementing what was the golden years of desktop technology for small businesses and professional accounting firms across Australia. Working for Ernst & Young for a

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How to fix your clients this tax season

As a bookkeeper in practice, I always worked hard (way, way too hard most of the time!), I have a high tolerance for pressure and can sustain long working hours for extended periods. However, every January, without fail, I nearly broke myself! The sheer volume of work, communications, checklists, and correspondence were overwhelming. The pressure is enormous, tempers are frayed

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What you need to do before a no-deal Brexit

If your organisation receives personal data from the EU/EEA, you should review your contracts and, where absent, include Standard Contractual Clauses (SCC) or other Alternative Transfer Mechanisms (ATM) to ensure that you can continue to legally receive personal data from the EU/EEA. Businesses that are part of a multinational group may be able to rely on binding corporate rules (BCRs),

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Self-employed clients? How to make the most out of the quiet months

The summer presents somewhat of a dry spell for many of your self-employed clients. The kids are off, decision makers are on holiday, and incoming leads are beginning to slow. That’s why most people who earn outside of PAYE choose to take the opportunity to enjoy a well-earned break. However, there are other uses for your client’s time. These quiet

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A bookkeeper’s role in digitalising tax affairs

Now that Making Tax Digital (MTD) for VAT is in effect, it’s easier to reflect on HMRC’s digitalisation initiative with clarity. Where before certain parts of the legislation initially appeared unclear, today we’re able to identify the exact responsibilities of both clients and bookkeepers. Whether that’s knowing how to move your accounts online or selecting bridging software to ensure compliance,

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Have you or your clients fallen for a GDPR myth?

In a recent mini survey carried out amongst our members, 40% of respondents were confident that their businesses were GDPR compliant with the remaining 60% saying they had taken some steps but knew they were not finished.  These results suggest that our members are well aware of their data protection obligations but are you 100% confident you know exactly what

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VAT for bookkeepers and accountants – A guide to digital records

This article has been provided by GoSimpleTax. Provided your clients are VAT-registered and have a taxable turnover above the threshold, you’ll be expected to assist in their Making Tax Digital (MTD) compliance. For the most part, you’ll need to help clients ensure that their VAT records are in a digital format. This will mean an end to any paper-based bookkeeping.

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Changing the name of your business doesn’t change your Automatic Enrolment duties

This blog post has been provided by The Pensions Regulator’s Head of Compliance and Enforcement, Joe Turner.  If you get married and change your name, those you owe money to don’t forget you. If you move house, your debts remain tied to your credit record. It might seem obvious, then, that an employer that decides to change its identify cannot

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