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Friday Roundup Podcast 9th October 2020

The news from the week ending 9th October 2020 Sarah Palmer – COO Simon Jordan – Marketing Kerry Wale – Finance Below are the notes from the podcast On this week’s Friday Roundup we have… Simon Talks about our guest on this week’s coffee morning Amanda Swales – Go Simple Tax Clear your diary for the return of The Fundamentals 2 Kerry

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Bookkeepers The Paper Tax Self-Assessment Tax Return – What you need to know.

The paper return deadline is this month, 31st October, therefore we thought it would be useful to invite Mike Parkes from GoSimpleTax to explain how best to prepare your clients for the Self-Assessment tax return submission and file with confidence. If your clients are new comers to submitting Self-Assessment tax returns, they should understand it pays to know that there are

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On-Boarding new recruits remotely. A checklist to get it right first time

For new staff, how the first few days of a new job are experienced has a lasting effect on how they view you as employer. Sadly, stories abound of the yawning gap of how the job and employer was portrayed when attracting applicants to apply and what the place and people were like on day-1.  There’s even a well-used HR

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Working from home will cost UK economy £15.3bn

Remote working at current pandemic levels could see a £15.3bn hit to the UK’s GDP each year, according to new data from PwC. Of this, £12.1bn would come from lower consumer spending. The resulting reduction in the clustering of economic activity (less networking and interactions) could decrease GDP across England and Wales by a further £3.2bn. To put this in

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Self assessment taxpayers can spread the cost of tax bills

Self assessment taxpayers can apply online for additional support to help spread the cost of their tax bill into monthly payments without the need to call HMRC. From 1 October, the online payment plan service can already be used to set up instalment arrangements for paying tax liabilities up to £10,000. HMRC has increased the threshold to £30,000 to help

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Advice for firms over-claiming furlough funding

HMRC is stressing the importance of companies continuing to check each of their CJRS claims is accurate before submitting it. And it is also recommending they check previous claims to avoid any penalties for claiming too much. If a company has claimed too much CJRS grant, and has not repaid it, then it must notify HMRC and repay the money

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Businesses given flexibility to pay back loans

More than a million businesses that took out a Bounce Back Loan are to be offered more flexible repayment terms through a new ‘Pay as You Grow’ initiative. They will now have the option of extending the length of the loan from six years to 10, projected to cut monthly repayments by nearly half. Interest-only periods of up to six

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A Guide To Record-Keeping And Expenses For Bookkeepers

Whether your client is new or not to self-employment, record-keeping might sound like hard work to them – and certainly will be to you when they have days to spare for the deadline and cannot find ‘that receipt’. And while that may be true, it does come with its own reward – namely, that sole traders can claim back allowable

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Where do tax avoiders live?

Towns commonly associated with City workers have the biggest concentration of people who admit to tax avoidance. A study by UHY Hacker Young found Windsor leads the UK for the highest concentration of ‘avoiders’. The Berkshire town saw 23 disclosures to HMRC of unpaid tax per 100,000 population last year. The UK average is seven disclosures per 100,000 people. Affluent

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