Blog

But I'm only a Landlord - surely I won't need to submit 4 tax returns a year?...

The idea behind Making Tax Digital is HMRC becoming part of the digital age and that will mean fundamental changes to the tax system to make it “more effective, more efficient and easier for tax payers.”

Contactless payments and how they work...

Britain holds the accolade of being the most Contactless country in Europe, pre Brexit. The list of locations that accepts Contactless payments is lengthening and even unattended vending machines have the functionality to accept them.

What is cloud technology and how does it help with accounting?...

First of all, don’t worry. This isn’t going to be a post where we look to confuse you with the technical aspects of cloud technology. Instead, we thought that as cloud computing is becoming an even more vital business tool for our clients, we’d tell you how it can help with your accounting.

I'm going Self Employed. What do I do about HMRC?...

The first action is to register with the happy chappies at the tax office. This doesn’t need to be in person, or feel like visiting the Spanish Inquisition. Instead, the government has invested a lot of time and money in making this a digital process, so more can now be done online.  

But I'm only a sole trader - surely I won't need to submit 4 tax returns a year?...

The idea behind Making Tax Digital is HMRC believing that all businesses both big and small will make fewer errors if they maintain their records more regularly. They know that many small businesses only write their books up once a year when demanded by their accountants. HMRC also believe that this lack of regular book keeping is losing tax for the Treasury not only because of errors in recording income and expenditure but also because the time delay between earning money and having to pay the tax is so long that often businesses go bust before they actually pay up.