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Brexit, Vat returns

Brexit. VAT returns.

So we’ve recently heard that Brexit is being pushed back but that hasn’t stopped us so we thought we’d revisit everything we have done in advance of this and the impending making tax digital.

For those who weren’t aware, making tax digital comes in 1 April 2019 and is basically going to mean that if you are VAT-registered and your turnover exceeds the current VAT registration threshold of £85,000, you will no longer be able to submit your VAT returns through the HMRC portal. Instead, you will either need to use some accounting software or equivalent software to submit your VAT return.

Focusing first on making tax digital; we are now helping clients go digital with piece of mind and without fear through the following:

1. We introduced Receipt Bank that helps you maintain your receipts so much more easily and reduces the risk of losing them and subsequently any potential tax or VAT relief thereon where applicable.

2. We’ve partnered up with two of the biggest accounting software providers on the market – Xero and Sage, which subsequently now allows us to offer them both at prices that cannot be matched by going direct. These pieces of software; alongside ourselves, then help you control your finances and cash flow and plan for tax and VAT liabilities before they arise. We’re even offering free training to get to you set up at the minute.

3. We have introduced further partnerships; outside the world of accountancy, to support you in other day to struggles including experts in HR, branding, marketing, financial advisors, solicitors and many more.

All of the above will help make you compliant with making tax digital when it arrives 1 April 2019 with minimum fuss, time or effort and will make your lives easier. There will however be more newsletters focused on this over the coming months.

And there is more to come:

1. We will soon be introducing road maps for clients to better help them achieve those goals that they first set out to achieve i.e. retire at 55.

2. As we enter the crazy tax return season and the build up towards Christmas we will make it easier than ever to get your self-assessment tax return information to us and signed without ever having to set foot outside through Iris OpenSpace which is basically a further add-on to the benefits we already provided through the portal.

3. We will very soon be launching our own branded app which will bring all of these changes listed above under the one app so you can access everything in one place; all at the click of a button.

Now we might not know what changes Brexit will bring or when Brexit will even happen but we do know that we are helping our clients build stronger, sustainable and more resilient businesses in less time than ever to withstand such challenging economic conditions.

So who doesn’t want an easier life with better results?

Receipt Bank – Fetch

Don’t worry this section isn’t about dogs.

Did you know that through Receipt Bank you can have it ‘fetch’ invoices from other online accounts you have?

‘Wow’ I hear you say. All you do is click on add items when you are logged into your account then the fetch option will be on the screen then just follow the instructions.

Another step on the road to becoming digital and the management of paperwork is getting easier again.

Monthly offer – Xero

Xero rang us earlier the month and put two offers in front of us that we simply couldn’t refuse and which in turn we are sharing with you the customer.

If you know you want to use Xero but cost is the barrier then we have two affordable options:

1. If you only need read-only access we have a package that is comparable in price with Sage Business Cloud Accounting but significantly more comprehensive.

2. If you want the full package we have one that will again be comparable with Sage for the first 12 months but it has full functionality. After the first 12 months the price would rise but this is great opportunity to dip your toes in the water.

We only have limited packages with respect to these two offers and only 9 remaining for the second offer so get in touch as soon as possible if you want to take advantage. You are welcome to share these offers with friends and family who are not clients also.

Tax Return Season

As we enter the crazy season of tax returns; if you haven’t got yours in already then get it in as soon as possible to avoid any nasty surprises before or after Christmas when it comes to finding the money to pay any tax owed.