10 top tips to get ready for Making Tax Digital – Business Article

Is your business ready for HMRC’s revamp to the tax system? If you’re yet to start the process and need support to get ready for Making Tax Digital, this article will help you take the steps to get things moving. When Making Tax Digital begins in April, starting with the VAT programme, it will be the first step taken by HMRC to reduce the £9bn of tax revenue that is lost each year due to incorrect submissions. Who is affected…

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Making Tax Digital checklist: How to ensure you’re ready for MTD – Business Article

As of 1 April 2019, VAT-registered businesses in the UK will need to submit their VAT returns using “functional compatible software”, as part of HMRC’s Making Tax Digital (MTD) plans. With the deadline approaching, we’ve created a Making Tax Digital checklist to help you. And below, you’ll find a checklist infographic, which highlights the considerations and steps you need to take to prepare for MTD. One key thing to remember is that from April 2019, if your VATable turnover is…

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Tax return 2019: a stress-free guide to tackling it | Money – Business Article

The weather may have turned arctic, but frostbitten fingers won’t get you out of doing your tax return. HM Revenue & Customs has issued a list of the most bizarre (and unsuccessful) excuses it received from customers who missed last year’s self-assessment deadline. They included “My boiler had broken and my fingers were too cold to type”. If you have been putting off the day when you have to gather up all your bits of paper and sit down and…

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Payroll can be simpler for small business owners | Dynamic Business – Small Business Advice – Forums – Business Article

The decision to make your first hire is a sign of growth and success; a watershed moment for any business. Unfortunately, for over one-third of Australian small business owners taking on staff also means adding hours of payroll documentation and processing onto their workload every week. Something they might not expect.  Most people don’t start their own business to sweat over backend accounting and payroll processes, yet new research by Xero reveals more than a quarter (28%) of Australian small…

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