Five things your accountant can do as well as taxes

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.

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.

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.

Best Accounting Software for Online Sellers
Editor | 12 August 2019
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Small businesses that sell products online through platforms like EBay, Amazon, Shopify and Etsy need simple software that they can rely on to run at their best.
Cloud Accountant specialises in supporting online sellers with the financial management.
We work with hundreds of online businesses – including part-time sellers, start-ups and established businesses – and in the vast majority of cases we only recommend one accounting system.

HMRC Last Warning on Making Tax Digital

HMRC has urged businesses that will be affected by Making Tax Digital to submit their first quarterly return using approved software by 7 August.

Under the new rules, which came into effect on 1 April, businesses with an annual turnover over £85,000 need to sign up to Making Tax Digital and submit a quarterly VAT return before the 7 August filing date.

Freelancers Beat the January Blues
Editor | 30 January 2020
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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.

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.

Cloud Accounting Software: Xero Vs Quickbooks

Business owners need to make sure they have the right tools to manage their finances. When it comes to bookkeeping and accounting, more and more firms are choosing online software platforms over spreadsheets and desktop-based software.

This low-priced software gives business owners the ability to manage their finances from anywhere, with data stored securely in the cloud. But how do you choose which software is right for you.

Editor | 5 August 2019
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Nobody gets into because they love accountancy. But if you want your new venture to succeed and grow, you can’t afford to ignore the finances.

Bookkeeping and taxes can be scary for first-time business owners, but it isn’t too tricky as long as you pay attention to the basics.

In this blog post we share some business finance fundamentals that you need to get right if you want to sell online successfully.

Monzo Announces Xero, FreeAgent Integration
Editor | 15 July 2019
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Challenger bank Monzo has announced that its business customers will soon be able to integrate their accounts with Xero and FreeAgent.

The integration means that business transactions will automatically be imported into the accounting software each day, making it easier to track what’s coming in and what’s going out.

Combined with Xero and FreeAgent’s easy bank reconciliation systems, it will make financial processing quicker and easier than ever before.

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