One common mistake made when people receive credit notes is that they mistakenly think they are an invoice as the document hasn’t been reviewed correctly or there is no clear distinction or difference between the invoice or credit note layout. Sound familiar?! Did you know it’s possible to edit your invoice layouts in Sage 50 Accounts to show credits as … Read More
Which Sage 50 tax code do I use for suppliers not VAT registered?
I posted a question in our free Sage 50 Accounts support group on a topic that I know causes much debate! The question was: “What Sage tax code do YOU use for suppliers not VAT registered?!” The post had 106 comments! So, what tax code should you use for suppliers who are not VAT registered? Should the amount, which has no … Read More
Changes to the Construction Industry Scheme (CIS)
If you’re a Limited company operating within the Construction Industry Scheme (CIS) you need to be aware of the changes coming into play as of this month (April 2022). HMRC have introduced additional information that needs to be submitted with your Employment Payment Summary (EPS) which you must submit for any CIS deductions suffered as a subcontractor. The additional information … Read More
What is the National Insurance Contribution Uplift?
From 6th April 2022 the Health and Social Care Levy will be coming into place. In order to fund the NHS and other health and social care sectors who have been impacted by the Coronavirus pandemic, national insurance contributions will have a levy applied to them of 1.25%. If you’re processing payroll HMRC recommend you make sure that your employees … Read More
Payroll Year End 2022
Sage have confirmed that they anticipate that the update for Sage 50cloud Payroll Bureau will be available soon. You will be notified via email and also in the Advice Centre when you access your Sage 50 software, so keep an eye out for these notifications. Here are some steps for you to take to prepare for your payroll year end. … Read More
Employment Allowance is increasing to £5,000
If you are in receipt of the Employment Allowance the good news is, that it’s increasing from April 2022. The maximum Employment Allowance is currently £4,000 but from April 2022 it will be increasing to £5,000. Businesses who are eligible for the allowance will be able to claim more against their secondary Class 1 National Insurance liabilities. This means if … Read More
National Living & Minimum Wage rate changes from April 2022
If you are currently paying your employees the National Minimum Wage (applies to those of school leaving age) or the National Living Wage (for people under 23) then you need to be aware of the changes coming into place from 1st April 2022. 23 and over For people aged 23 and over the minimum you can currently pay them per … Read More
Income tax and personal allowance in 2022/2023
If you’re using Sage 50 Payroll or Sage Business Cloud Payroll, the legislation tables and settings in your software will update either automatically or if you install the update. From 8th March 2022 installing this update became mandatory, meaning you can’t access your software until you do the update. In the Spring budget last year it was announced that thresholds … Read More
What makes a good bookkeeper?
Bookkeeping is something all businesses have to do. Keeping records of all incoming and outgoing transactions, and evidence of payments so that you can file your accounts and/or tax return at the end of the year is essential to your business, it’s not something you can avoid. Whether you choose to take on your bookkeeping yourself or hire a bookkeeper, … Read More
How to avoid procrastination
Procrastination can be a really frustrating personality trait that can hold you back in life and business, restricting your true potential. To be able to take action and do something about it, first you must recognise you’re doing it. What is procrastination? Some might say that procrastination is laziness, but this simply isn’t the case. Laziness is when you choose … Read More
