http://www.accountsplace.com/blog/ The latest Blog feeds from www.accountsplace.com en-us Mon, 20 Apr 2026 12:35:32 +0100 Rocketspark http://www.accountsplace.com/blog/post/24600/making-tax-digital-for-income-tax/ From April 2026 small businesses, sole traders and landlords will need to change how they report income tax to HMRC. New legislation, known as Making Tax Digital for Income Tax (MTD for IT) is set to be introduced which will see a change in financial requirements. To comply with MTD for IT requirements, businesses will need to do the following:Send quarterly updates on business income and expenses.Keep digital records.Submit returns annually using MTD compatible software.The MTD for IT roll... Mon, 16 Jun 2025 11:29:21 +0100 http://www.accountsplace.com/blog/#post24600 http://www.accountsplace.com/blog/post/23614/self-assessment-deadline/ In figures published by HMRC on 6.1.25 there were 5.4 million customers who still needed to complete and pay their Self Assessment. The deadline for submitting the return and paying any due tax is the 31st January.  Even if you don't think you are liable to pay any tax you must still submit your return, otherwise you will be subject to a fixed penalty of £100 for missing the deadline.After 3 months, additional daily penalties of £10 per day will be charged up to a maximum of £900. After ... Thu, 16 Jan 2025 14:43:04 +0000 http://www.accountsplace.com/blog/#post23614 http://www.accountsplace.com/blog/post/23545/dext-introduces-new-and-enhanced-features/ Dext have recently some exciting new features; Mileage and Enhanced Expense Approvals, to help make business and employee expense management effortless. To accurately calculate reimbursable mileage amounts, simply enter the trip start and end dates using Dext's mobile or web app. This will automatically calculate the claim based on distance travelled, tax rates, single or multiple passengers and more.Dext have also extended their approvals capability to employee expenses, including mileage ... Mon, 18 Nov 2024 14:18:26 +0000 http://www.accountsplace.com/blog/#post23545 http://www.accountsplace.com/blog/post/23533/chancellor-outlines-package-of-reforms-to-hmrc/ Chancellor Rachel Reeves yesterday outlined a package of reforms to improve the UK's tax system to help fix the foundations of the UK economy. The three strategic priorities for HMRC are closing the tax gap, modernising and reforming and improving customer service.As part of the package, HMRC will soon launch a consultation on electronic invoicing (e-invoicing) to promote its wider use across UK businesses and government departments.The introduction of e-invoicing can significantly reduce admini... Tue, 24 Sep 2024 12:09:03 +0100 http://www.accountsplace.com/blog/#post23533 http://www.accountsplace.com/blog/post/23569/just-ask-xero/ At Xerocon London recently, Xero demonstrated the exciting new product Just Ask Xero (JAX).  Available in beta in August this year, JAX will help bookkeepers and their clients run their businesses more efficiently. You'll be able to Just Ask Xero to complete tasks such as generating an invoice or editing a quote right from the apps and devices you commonly use.This development will fundamentally change the way you  complete routine tasks on the go, as they can now be done outside of Xe... Tue, 25 Jun 2024 13:45:50 +0100 http://www.accountsplace.com/blog/#post23569 http://www.accountsplace.com/blog/post/23565/income-tax-self-assessment/ The end of January heralds a rush to submit Income Tax Self Assessment forms as the last minute.com community realise the submission deadline is imminent.2024 was to have seen the introduction of Making Tax Digital for ITSA but this has been delayed until 2026. However getting ready for the change over is really not something that should be left to the last minute. Under MTD for Income Tax, sole traders and landlords will need to keep and maintain digital records and use MTD compatible software ... Tue, 30 Jan 2024 13:07:55 +0000 http://www.accountsplace.com/blog/#post23565 http://www.accountsplace.com/blog/post/23624/the-gold-standard/ We are delighted to have been awarded Xero Gold Partner Status. It took a lot of hard work to achieve this and we are very proud of the whole team whose efforts made this possible.Gold Partner Status reflects the depth of our experience using Xero and consequent ability to ensure our clients fully maximise the benefits of using Xero Cloud based accounting.  Gold Partner Status guarantees that every member of the team are fully certified and therefore up to date with all product updates... Tue, 05 Dec 2023 15:35:15 +0000 http://www.accountsplace.com/blog/#post23624 http://www.accountsplace.com/blog/post/23524/artificial-intelligence/ Artificial Intelligence has been the tech topic of 2023 with much discussion on the potential impacts, opportunities and challenges that the technology poses for businesses, consumers and indeed the entire world.  AI itself is not new and chances are you already use AI in the tools you use every day from Google searches and facial recognition in photo's to predictive text and automated bank reconciliations.Since it's inception, Xero has aimed to provide small business  customers and th... Thu, 21 Sep 2023 13:40:46 +0100 http://www.accountsplace.com/blog/#post23524 http://www.accountsplace.com/blog/post/23643/xero-introduce-invoice-payments-online/ A prerequisite for a successful business is being paid on time by your customers. Late payments can severely impact cash flow and chasing bad debts takes time that could be better spent elsewhere.You can now accept payments straight from a Xero online invoice by debit or credit card, by direct debit via GoCardless or Stripe, or through Google Pay or Apple Pay. Giving customers more payment choices increases the likelihood of being paid on time. It is free and easy to set up in Xero with no ongoi... Tue, 25 Jul 2023 12:01:53 +0100 http://www.accountsplace.com/blog/#post23643 http://www.accountsplace.com/blog/post/23542/cybercrime/ As reliance on cloud based technology has grown, so inevitably has criminal activity. The economic impact of cybercrime is massive and can destroy a business. Whilst no business can be 100% safe you can take steps to increase your resilience.Failure to adequately protect your data can not only lead to breaches of GDPR regulations and possible subsequent financial penalties but also the costs of downtime, people time, device costs and lost opportunities.One of the commonest types of cybercrime is... Tue, 27 Jun 2023 12:15:26 +0100 http://www.accountsplace.com/blog/#post23542