Registering for VAT can feel scary for businesses, but it is an essential part of growth. In this brief introduction to the tax, we give you all the most important information to help you grow more comfortable with the tax.
Accounting software makers FreeAgent has launched a trio of new features, making it even easier for self-employed workers and small business owners to get paid faster.
Late payments are a scourge on the self-employed and small business community. Research from Bacs* suggests that late payers cost SMEs up to £23.4bn every year, which is not to mention the unnecessary stress and anxiety caused to millions of the UK’s smallest businesses.
Making Tax Digital is a government scheme to digitise business taxation in the UK. It is being rolled out in phases, starting with businesses that pay VAT.
Businesses with a revenue above the VAT threshold must now file VAT returns digitally. And the only way to do this is by using compatible accounting software.
We’re still at home – and still working for you!! But from Monday most of the team will be back in our offices, observing the rules, and looking forward to picking up where we left off before we rudely interrupted by a pandemic, with our first class, friendly accountancy service!!
If you are self-employed or you run your own business, then your accountant probably helps look after your books and provides assistance when it is time to fill in your tax return.
Most small business owners find this kind of help incredibly useful, especially if they use cloud accounting software like FreeAgent or Xero to stay on top of the bookkeeping.
This year has been turbulent and challenging for all and we are excited to welcome in the new year and are hopeful that normality is within reach.
In 2020, as well as continuing our market lead in the world of eCommerce accountancy, CloudAccountant launched our specialist recruitment agency brand, AgencyAccountant, and we’re proud to have seen the brand and client base grow during the year.
“I am delighted to join CloudAccountant.co.uk and be part of the rapidly expanding team.
I’m really excited about being able to focus on our customers and ensure you are provided with the support and exceptional service CloudAccountant are so proud to offer. Even though we are an online service we’re real people, and I’ll be at the end of the phone for a chat and to listen to your business needs whenever you need me. My primary objective will be making your life easier!
I want to really focus on our clients’ experiences, listen to your feedback and be the first point of contact and support for you. I will always ensure your query gets directed to our experienced accountants who have the specialist skills to assist you, allowing you to focus your time and effort on growing your business.
I’ll be in touch with everyone soon to say hello and learn more about you and your business, However, if you have any urgent feedback or need help with any aspect of our service, please don’t hesitate to get in touch! I look forward to speaking with you soon”. Email firstname.lastname@example.org or call 07775 603799 / 01625 544 675
A VAT cut in the food, drink and hospitality sectors came into force this week following the Chancellor’s ‘Summer Economic Update’ last week.
The UK’s Coronavirus Job Retention Schemes provides a lifeline for businesses struggling to come to terms with the pandemic.
Eligible employees can be ‘furloughed’ and the government will pay 80% of their pay, up to £2,500 per month. Employers can also top this pay up to 100% if they wish.
You can find out more details about the scheme on the government website.
To make it easier for businesses to access this scheme, Xero and FreeAgent have added new tools to their payroll systems.
Freelancing could help fight back against the January Blues, new research from IPSE (the Association of Independent Professionals and the Self-Employed) suggests.
The trade body representing freelancers found that more than three quarters (77%) of freelancers were happy working for themselves, while only five percent said that they were unhappy. This compares to a national average of 69% who are happy in their jobs.