We highly recommend you make a note to complete regular backups of your Sage payroll data. That way if anything happens to your computer, you can always restore your previously backed up data so you don’t need to process everything again. You should try to take at least one backup to an external device such as a USB. How do … Read More
Making Tax Digital – Are you ready? With the ever looming deadline approaching, 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. One thing to remember is that from April 2019, if your VAT turnover is above the VAT threshold (currently … Read More
Minimum pension contributions rates increase again in April Minimum contributions that are set by the government for auto-enrolment will increase again in April 2019. It will be the law. The increase will take the total minimum amount to 8% (at least 3% from you as the employer). This is assuming you’re calculating minimum pension contributions on qualifying earnings. If you … Read More
Fantastic Gadgets for Accounting From laptop touchscreen converters to handheld paper shredders, there are plenty of gadgets for accountants and bookkeepers. Check out this selection of our favourite products that make an accountant’s life easier and more productive. Okay, or maybe a little more fun! If you happen to be in the market for some new tech, then you may … Read More
Cybersecurity – Tips to protect your accountancy practice Repair systems in a timely fashion Restrict user access Change passwords regularly Segment networks Upgrade software to the current version – or at worst the last but one release Remove data you don’t need Limit your liability but educate your client In a world where accountants are advising clients on which … Read More
Making Tax Digital Making tax digital is HMRC’s way to digitise tax. Therefore, from April 2019 businesses with a turnover above £85k must submit VAT returns through the HMRC gateway. Businesses would do this using commercial accounting software like Sage. 89% of UK business will consequently change the way that they process their tax. If you’re going to be impacted … Read More
Here is a quick reference guide to get you started. Under the Pensions Act 2008 all employers will have to provide a workplace pension for eligible staff by 2018. This is called Automatic Enrolment (Auto Enrolment).