Dec 11 2017 Important information about changes to paying HMRC Categories: EQ AccountingTaxation HMRC are making some important changes to the way they accept payments. Please make sure you are aware of these changes and the dates they come into action which can be found below. At the Post Office You won’t be able to pay at the Post Office from 15 December 2017. Where electronic payment is more
Oct 6 2017 Auto-enrolment – Are you ready? Categories: EQ Accounting Auto-enrolment (AE) was introduced for large employers in 2012. The provisions compel employers to register with The Pension Regulator (TPR) (www.tpr.gov.uk/registration), and ultimately provide adequate provision for employee pensions through an AE process. Employees can opt out, and certain jobholders can have their inclusion in the process postponed, but the responsibility lies firmly with employers more
Jul 19 2017 HMRC to use PAYE information to make in-year adjustments Categories: EQ AccountingTaxation From July 2017, HMRC will start to use PAYE information to make in-year adjustments to taxpayers tax codes in real-time. This will avoid both under and overpayments from occurring by the end of the tax year. Taxpayers will be notified when the right tax is not paid and, through their Personal Tax Account, HMRC will more
Jul 14 2017 MTD Update Categories: EQ AccountingTaxation Following it’s removal from the Finance Bill earlier in the year, the treasury has issued guidance as to its revised plans for Making Tax Digital. Under the original plans, businesses and landlords with turnover in excess of £10,000 would have been required to submit mandatory quarterly reports. With those who are VAT registered commencing from more
Jun 29 2017 Free seminars take businesses to the cloud Categories: EQ Accounting Fife businesses are being invited to free drop-in sessions highlighting the benefits of Cloud accounting. In the near future, it is expected that most businesses, including sole traders and landlords, will be required, by law, to submit accounting information quarterly via computer software rather than manually once a year. Although the finer detail of the more
May 31 2017 VAT fuel scale charges Categories: EQ AccountingTaxation HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2017. VAT registered businesses use the fuel scale charges to account for VAT on private use of road fuel purchased by the business. You can find the more
Mar 25 2017 Minimum Wage Rises Categories: EQ Accounting The National Minimum Wage (NMW) or National Living Wage (NLW) rates are increasing from 1 April 2017. Employers need to ensure they are paying their employees at least the appropriate NMW or NLW rate. You can find the new rates in the table below. Going forward the NMW and NLW rates will be reviewed annually in April. more
Mar 22 2017 Are you looking for ways to save time in your business? Categories: EQ AccountingLeisure We have found that the level of automation available from using accounting software, such as Xero, benefits a business by reducing the time taken to process the books and records. Take Bank Rules as an example, they are an important tool when processing bank transactions. These allow the user to define how recurring entries should more