Changes for HMRC customers who pay VAT by Direct Debit

HMRC are in the process of changing their VAT services, this will mean that existing customers will need to be transferred over to a new IT platform. All customers who currently have a Direct Debit set up with HMRC will be affected. What action do I need to take? By law HMRC must have a valid point of contact for … Read More

What Changes have been made to the Furlough scheme?

If you are taking advantage of the Government Furlough Scheme then you need to be aware of the changes that came into effect from 1st July 2021. It is essential to continue to pay your employees at least 80% of their wages and the cap of £2,500 per month remains in place. You will continue to contribute to your employees … Read More

What you need to know about the changes to Voluntary VAT submissions

We understand that in this current climate it can be difficult to keep on top of all the changes which are being made by the government and HMRC. So we thought we would tell you about what you need to know about the changes in VAT returns which are approaching us. Businesses with a turnover exceeding £85,000 must be VAT … Read More

UK VAT Changes from 20% to 5% for Tourism and Hospitality Sectors (08/07/2020)

In today’s summer statement, the UK’s Chancellor said he plans to change UK VAT for the hospitality and tourism sectors from 20% to 5% with effect from Wednesday 15th July 2020 until Tuesday 12th January 2021. Any businesses that buy and sell food, provide accommodation or manage attractions will be affected by the change. We’ll publish more on this topic … Read More

Option to defer paying VAT ends on 30‌‌ June 2020

If, due to COVID-19, businesses could not afford to pay their VAT, HMRC offered a deferral without interest or penalties, meaning although the VAT return still needed to be filed, any VAT due for payment between 20 March 2020 and 30 June 2020 could be deferred until 31 March 2021. To do this, any business who had a Direct Debit … Read More

Coming in 2020 TWO Sage 50Cloud Payroll year end updates

Come and join our support community of Sage 50 Payroll Users on Facebook for tips and advice. This year the Government have announced that the Budget will be issued later than usual on 11th March 2020. Due to this Sage (UK) will be releasing two Sage 50Cloud Payroll updates. The 1st update will be released in February 2020, which will … Read More

MTD Upgrade to v25 of Sage 50

Thinking about a Sage 50 version 25 MTD Upgrade? We’ve had a number of phone calls from clients wanting to upgrade to Sage 50 version 25 in order to be compatible with the upcoming MTD requirements. The good news is that if you’re already a Sage user, the price you pay should be lower than the RRPs you may already … Read More

Common FAQ’s about Making Tax Digital

Making Tax Digital – What does it mean for your business? If you are VAT registered then you will need to start to keep a digital record  (i.e. use software to record all your VAT invoices and receipts). If you are not VAT registered then digital record keeping is optional. If you are VAT registered and do not currently use … Read More

HMRC send out making tax digital letters

Have you received a letter from HMRC about Making Tax Digital? If so, you’re not alone. About 200,000 HMRC Making Tax Digital letters have been issued to businesses to let them know about the new service and how VAT record keeping and the way that VAT returns are submitted will change from April 2019. HMRC has sent the first 20,000 … Read More