Tax

The tax system of the future?

The Government has published ‘Building a trusted, modern tax administration system’, which sets out HMRC’s 10-year vision for the future of tax administration. HMRC said the plan “will ensure we create a modernized, digital tax system that is underpinned by modern digital infrastructure and uses closer to real-time information to provide better targeted support – making it easier for businesses

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How effectively are you transforming from a Compliance to Advisory focused accounting firm?

Spend a couple of minutes reading the BBC article below and you’ll be putting ‘Avoiding the Competency Trap’ as a priority agenda item for your next board meeting.  After all, why would you risk becoming an IBM or Xerox when you could just as easily become an Apple or Microsoft? https://www.bbc.com/worklife/article/20200608-what-is-the-competency-trap In the world of accounting the competency trap continues

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Bookkeepers Do You Have Clients Who Are Landlords?

Here Are The Changes To Landlord Tax 2020/21 You Will Need To Know For landlords, change is familiar. Almost every tax year, new legislation is introduced that impacts their finances – and this year is no different. In order to restart the economy, Chancellor Rishi Sunak has already introduced a couple of changes that are likely to affect property investors.

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Clients Considering Going Self-Employed?

At the turn of the decade earlier this year, there were over 2 million freelancers in the UK. Combined, they contribute approximately £125 billion to our economy. And as working from home has never been easier, it looks likely that the demand for self-employment will only continue to rise. The trouble is, self-employment isn’t as straightforward as simply winning business

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Go Simple Tax account deferral advise

Should You Defer A Client’s Second Payment On Account? For those that are new to the Self Assessment tax return process, payments on account are one of the most common stumbling blocks. Despite being introduced as an initiative to help taxpayers spread their tax payments, it often results in annual frustration and can actually harm your client’s cash flow if

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Key Tax Savings for clients who are self-employed hospital workers.

While the nation’s attention is currently fixed on the work of our carers and hospital workers, little thought is paid to those that are self-employed and still need to submit their tax returns. Of course, it’s sometimes tough to determine what counts as a deductible expense and what doesn’t. That’s why we’ve asked Mike Parkes from GoSimpleTax to provide a

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Still not filed your 18/19 tax return?

Still not filed your 18/19 tax return to be eligible for the Self-Employed Income Support Scheme You have until 23rd April 2020 to do so – don’t lose out, file today. https://www.gosimpletax.com/iab/

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New Tax Year has started

Use your time wisely get your ducks in a row now for your 19/20 Tax Return. Be ready with your income and tax Liability for 19-20. https://www.gosimpletax.com/iab/

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Businesses ‘need urgent clarity on off-payroll change’

The Association of Taxation Technicians (ATT) is calling for greater clarity on next April’s changes to the off-payroll rules. From April 2020, the off-payroll rules that already apply to contractors engaged in the public sector will be extended to the private sector. This will shift responsibility for determining whether an engagement falls within the off-payroll rules from the worker’s personal

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