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

How to add festive cheer to your invoices

As Christmas is quickly approaching we thought it would be great to tell you about adding some Christmas cheer to your Sage 50 Accounts invoices. There’s nothing like a personal touch on your invoices to put a smile on your clients face and help them to get into the Christmas spirit during these difficult times. You can easily add a … Read More

What do I need to know about the construction industry VAT reverse charge?

As of the 1st March 2021 the domestic VAT reverse charge must be implemented for the majority of supplies to building and construction services. HMRC have introduced this initiative to combat tax fraud. This was originally supposed to be introduced in October of this year, but due to the COVID-19 pandemic the government pushed this back. Businesses will need to … Read More

Beware HMRC fraud! Our insiders account…

Fraudsters are becoming more imaginative in their ways of scamming people out of their money. It’s unfortunate to say that there are so many scams doing the rounds, and HMRC are aware that their name is being used to convince people to hand over their money. According to UKfinance.org in 2019 criminals managed to steal over £1.2 billion through fraud … Read More

What’s New (and what’s disappearing!) in v27 of Sage 50 Cloud Accounts?

It’s out with the old and in with the new for v27 of Sage 50 Cloud Accounts. After listening to their customers’ requirements Sage have made some exciting changes to Access Rights and a new improved Sage ID service will be introduced from March 2021. As well as implementing new features they have removed features which were reported to be … Read More

Pressures on Financial Services throughout the COVID-19 Pandemic

These are strange times that’s for sure, and Accountants and Bookkeepers have really felt the pressure of the added stress that they have faced since the beginning of lockdown. Businesses have faced financial strain from the impact of the Coronavirus and as a matter of urgency they were turning to their Accountants and Bookkeepers for help and advice.  Although great … Read More

What is a PAYE Settlement agreement, and when do I need to pay it?

A PAYE Settlement Agreement (PSA) is an agreement with HMRC which allows you to make a one off payment annually, to cover all Tax and National Insurance due on; Minor, Irregular, Impractical expenses or employee benefits. Therefore you do not need to; Put them through your payroll Include them in your year end P11D forms Pay Class 1A National Insurance … Read More

Why has Making Tax Digital (MTD) been introduced and what are the benefits?

HMRC are aiming to become one of the most digitally advanced tax administrators in the world. They have made significant changes to the way our tax system works to make it more efficient, effective and less complex in order to achieve this. The HMRC carried out live pilot testing in order to prepare for MTD. They invited some businesses to … Read More