After a tumultuous election campaign the final result was anything but decisive. With no party winning an overall majority, we look at what freelancers wanted out of the election, who they voted for and what could happen next.
The creator of Xero add-on MinuteDock is returning to his native New Zealand. As a Xero Silver partner it was great to work with someone that is so prominent on the Add-on marketplace. Collaborating over the Cloud made perfect sense and it’s been encouraging to see the number of subscribers to MinuteDock steadily increase over the last 18 months.
Tracking categories in Xero can be used for a number of different options, keeping a track of the work you do for a certain job or seeing how much profit you make per job.
For example, you can set up tracking per region. This can be done by adding tracking category options through the settings in Xero. Once done, they will appear in most instances when you are working in Xero, for example, when creating invoices/quotes, raising purchase invoices/bills and even when reconciling the bank.
With any small business cash flow is king. Even if the business I profitable if your customers aren’t paying you then you won’t be able to survive for long. Here are some useful tips from our friends at Xero to help you get paid quicker.
If you are a contractor feeling down after the Chancellor’s Autumn Statement then Cloud Accountant hope to cheer you up with their Black Friday offer of One Month Free!
On Wednesday the Chancellor’s Autumn Statement said they’d be restricting tax relief from 6th April 2016 for contractors in respect of Travel and Subsistence Expenses. Good news is if you operate through a limited company this doesn’t apply to you if you are also outside the scope of IR35.
Our Operations Director and Deputy Accountancy Services Manager attended the FreeAgent Practice Summit in London attended by contractor accountants across the UK and hosted industry experts such as Julia Kermode CEO of the FCSA, David Halsey, The Head of the Office at the Office Tax Simplification and John Stokdyk, the Global Editor of AccountingWEB
The Summit was extremely useful with excellent insights into the direction HMRC are looking to take and where Cloud Accounting looks likely to take the accounting profession. It’s all good news for clients as Cloud Based applications like FreeAgent and Xero automate more and more of the usual accounting tasks allowing more added value advice to be provided for the same fees.
FreeAgent have conducted research which reveals that as many as 3.2 million people intend to start their own UK business in 2017.
The numbers have been arrived at from a poll of 1,000 British Workers which showed that 1 in 10 of the current 31.76 million UK workforce.
25% of those polled are looking to become self-employed over the next few years which rises to 30% for those who are looking to start a business in the future but don’t have any firm plans in place as yet.
The Association of Independent Professionals and the Self Employed (IPSE), has called for a ‘technological revolution’ in banking following the publication of a report by the Competition and Markets Authority (CMA).
If you are a contractor or freelancer then you have probably read various doom and gloom reports on how the Government is clamping down on the various tax reliefs you can currently legitimately receive.
There have also been consistent rumours for years that IR35 will be replaced and it will be almost impossible for contractors to work through their own limited company and benefits from the tax incentives this currently offers.
From next April there is also the new Dividend tax.