Resources

Check out our resources library for useful articles and up to date news.

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Changing National Insurance in July

The rates for national insurance contributions (NIC) increased by 1.25 percentage points for everyone on 6 April 2022. From 6 July the NIC starting threshold will rise to £12,570 per year (£1,048 per month) for employees. This means that some lower paid employees will...

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Making Tax Digital for Income Tax Self-Assessment (MTD ITSA)

HMRC wants to be one of the most digitally advanced tax administrations in the world. It says that Making Tax Digital (MTD) is making fundamental changes to the way the tax system works. It also hopes that it will avoid tax errors, and this will result in more than £9...

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Our Letters of Engagement and Your Data

Over recent months we have been getting in contact with our clients to issue new letters of engagement and service schedules. This has been as a result of changes in legislation and we want to make sure we are fully transparent in the services that we provide, how we...

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NATIONAL MINIMUM WAGE

These rates are for the National Living Wage (for those aged 23 and over) and the National Minimum Wage (for those of at least school leaving age). The rates change on 1 April every year. Date Age 23 and over Age 21 – 22 Age 18 – 20 Under 18 Apprentice April 2022...

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CREDIT LIMIT FOR CUSTOMERS

Xero have added a new feature giving you the ability to set a credit limit for a customer so you can keep track of what they owe you. The credit limit can be set within the contact record, see the help notes here You can also add a credit limit block to a customer to...

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FURLOUGH SCHEME – CORONAVIRUS JOB RETENTION SCHEME (CJRS)

The Government released the Coronavirus Job Retention Scheme to run from 1 March 2020. All UK employers will be able to access support to continue paying part of their employees’ salary for those employees that would otherwise have been laid off during this crisis and...

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COLLECTING PAYMENTS VIA GOCARDLESS FOR XERO

We know how important it is for our clients to get paid on time and reduce hours spent on admin. That’s why we recommend GoCardless for Xero. GoCardless for Xero allows you to collect payments automatically or manually for any Xero invoice. The free GoCardless for...

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SELF ASSESSMENT & ON ACCOUNT PAYMENTS

If you are a sole trader you must file a self assessment tax return every year, either on paper or online. Before you can file a tax return you must register as self employed, with HMRC here. When you register you can also request online access, if you didn’t do that...

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INVOICING: WHAT TO INCLUDE ON YOUR INVOICES

When you issue an invoice to a customer there are certain things you must include on them (especially if you are VAT registered) and some that are best practice. The checklist below should help ensure you don’t miss anything Your company information: full name,...

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DO YOU HAVE TROUBLE GETTING CLIENTS TO PAY ON TIME?

Do you have a formalised process for invoicing your clients and collecting payments? The following steps are an example of the process you should have in place to ensure speedy payment: If you don’t have a contract in place make sure your client signs up to your terms...

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