Take advantage of the Annual Investment Allowance
The annual investment allowance (AIA) allows businesses to obtain an immediate deduction against profits for capital expenditure up to the limit of the allowance. Where a business prepares accounts using the more traditional accruals basis, they are not allowed to deduct capital expenditure in computing profits; instead relief for capital expenditure is given under the […]
Pre-Trading Expenditure
Claim a deduction for pre-trading expenses As a general rule, a deduction is allowed for expenses that are incurred wholly and exclusively for the purpose of the trade. Thus, for the deduction to be available, the business must have started trading. However, most businesses will incur expenses in setting up the business. These may include […]
Xero : Need help ?
Check out this useful video from Xero HQ. Getting help and Support Alternatively, call us for help, we are Xero Certified Advisors Contact Page
Company CIS Refunds
HMRC have a new online form for companies acting as subcontractors who need to reclaim CIS tax. A company operating as a subcontractor in the Construction Industry Scheme (CIS) can offset any CIS tax deducted from it against PAYE liabilities when submitting Employer Payment Summaries (EPS) under RTI reporting. If the CIS deducted exceeds the PAYE, a repayment […]
Tribunal: Company directors don’t have to submit tax returns
HMRC guidance has historically been misleading and incorrect regarding Directors’ Tax Returns, and the result of tribunal case TC05929 confirms what many Accountants have been telling their clients for years. Read the full article on AccountingWeb
Xero Bank Feed Status
Having trouble with your Xero bank feed ? Check the Xero page below for both direct and Yodlee feeds : Xero Bank Feed Status
How to Check Your PAYE Code
HMRC issues some 20 million PAYE codes to employees and pensioners. The Low Incomes Tax Reform Group (LITRG) has issued a guidance note to help taxpayers to check their code is correct. LITRG PAYE Coding Guide Please contact us if you need more assistance!
Quickbooks Certified Pro Advisors
We’ve partnered with Intuit QuickBooks Online QuickBooks Online is # 1 cloud accounting solution for small business worldwide* We wanted to let you know that we’re now using QuickBooks Online, the cloud-based accounting solution from Intuit. As part of the process, we’re identifying which clients might benefit the most from using it. Looking at your […]
Xero Online Accounting Software
Xero Online Accounting Software is small business accounting software that operates in the cloud. This means all your financial data is stored online – so you can access it anywhere, anytime, from any device with an internet connection. There is also the added bonus of never having to worry about backups ever again ! The […]
Xero – Beautiful Accounting Software
Xero Certified Accounting Advisors We are pleased to announce we are now Xero Certifed Advisors Why Xero? We’re glad you asked. From baking to bricklaying, consulting to crafting – whatever keeps you busy, Xero makes your business life easier. Xero is online accounting software that connects you with your numbers, your business and us, your advisors. […]