Tax

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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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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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/