300,000 Reasons to Double Check Your Self-Assessment

Self-employed workers are being urged to double check their self-assessment for accuracy after it was revealed that HMRC opened more than 300,000 tax return investigations last year.
It has also been revealed that one-third of self-assessors could be paying too much tax.
Just ahead of the January 31 deadline, it has been revealed that the tax authority opened 300,762 new tax investigations in 2019 and received £1.2bn in extra tax from investigations into self-assessment tax returns in 2018/19.

Where to get help with your self-assessment

Every year around 11 million Brits are required to submit and pay a self-assessment tax return by January 31.

Many people are already way ahead of the game, with around 3,000 people completing their returns on Christmas Day and about 50,000 filing on New Year’s Eve and New Year’s Day.

But with the deadline looming large, many more are looking for help to fill in their online forms. In this blog post, we look at some of the best sources of help for self-assessment strugglers, but first, we’ll find out who actually needs to complete a tax return.

FreeAgent iPhone App Gets a Refresh

FreeAgent has been busy over the last few months, quietly rebuilding their multi-award winning iOS mobile app to make it even slicker and more reliable.
The iPhone app has been specially designed for freelancers, the self-employed and other small business owners to use on the go.

MTD Six Months On: 94% of Firms File on Time
Editor | 14 October 2019
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The biggest transformation to the tax system this century, Making Tax Digital (MTD) for VAT came into force for more than a million businesses in April.

Under the changes, VAT-registered businesses with a turnover that exceeds £85,000 need to keep digital tax records and submit their VAT returns to HMRC using compatible software like FreeAgent or Xero.

The Best Cloud-Based Apps for Small Business Owners

Small business owners have a lot on their plate. And anything that makes their lives a little bit easier can pay huge dividends in the form of business growth and success.

A new breed of tools, which store information in the cloud and allow users to access it from anywhere, on any device, have revolutionised how these busy owners get things done.

Accounting the most stressful part of running a small business

UK micro-businesses spend ten weeks of the year working on financial according to research from digital business bank Starling.
In a new report, the app-based challenger bank shines a light on the working practices of 5.6 million of the UK’s smallest firms.

Claiming Christmas Party Expenses Through Your Limited Company

Christmas might still feel half an age away, but many limited company owners will be frantically trying to agree dates and arrangements for their annual Xmas bash.

The company Christmas party is traditionally a time to thank employees for all of their hard work and let loose with food, alcohol and entertainment. And whether you are a one-person limited company or a firm employing 50 people or more, the good news is that you can claim back some party expenses from your annual tax liability.

HMRC Launches New Online Customer Forum

HMRC has launched a new set of Community Forums designed to make it easier for taxpayers to get their tax questions answered.

If you have a question about property income, VAT, expenses, Making Tax Digital, Self Assessment, Brexit or a whole range of other topics, you can submit a question to be answered by an HMRC expert.

The forums are split into a range of different subject areas and taxpayers can use a search function to search for a question that may have already been answered.

CloudAccountant.co.uk are supporting World Mental Health Day on Thursday 10th October.

CloudAccountant.co.uk are supporting World Mental Health Day on Thursday 10th October. We are also fundraising for Mind, the mental health charity, throughout October.

The World Health Organisation recognises World Mental Health Day on 10 October every year. This year's theme set by the World Federation for Mental Health is suicide prevention.

Today CloudAccountant.co.uk are holding a Tea and Talk event to encourage colleagues to have a natter if something is the matter. Just by building social links and relationships, can make workplaces happier and a more mentally healthy community.

Cloud accounting software provider Xero has announced plans for its first office in the North of England, with a Manchester site set to open in November.

The New Zealand company, which already has offices in Milton Keynes and London, says that it will create up to 40 jobs in Manchester by early 2020.

Xero has experienced rapid growth in the UK. The online accounting company saw its UK subscribers increase almost 50% to more than 463,000 in the year to 31 March 2019.

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