Jul 5 2019 Are you signed up for Making Tax Digital? Categories: EQ AccountingMaking Tax Digital Making Tax Digital (MTD) is now live and if you meet the criteria for mandatory submission of VAT returns, then you should have received a letter from HM Revenue & Customs confirming this. By now you should have checked that you have suitable accounting software or ‘bridging’ software, to enable you to submit your VAT more
Jun 11 2019 The easy transition to Making Tax Digital Categories: EQ AccountingMaking Tax Digital Following on from our previous article discussing bridging software, we have provided a detailed example of how bridging software can help with your Making Tax Digital (MTD) submissions below. We have a client who was using a manual cashbook to process their monthly VAT Return for their farm, and discussed the implications of MTD for their business. more
Jun 6 2019 Helping Palimpsest Book Production Ltd with their transition to Employee Ownership Categories: Taxation Our Employer Solutions Taxperts have written a series of articles about Employee Ownership Trusts (EOT) on our EQ Taxperts website, including how an EOT sale structure is implemented, how the shareholders dispose of their shares to a Trust for the benefit of the employees, and how the selling shareholders are paid for their shares. In more
May 29 2019 A Day in the Life of a Bookkeeper Categories: EQ AccountingPeople At EQ, we understand that juggling the financial and operational side of your business, at the same time as actually running the business, is not easy. That’s why we have a dedicated department called EQ Accounting, to offer our expertise and support to your day-to-day financial controls, to allow you to focus on running your business. Our more
May 28 2019 Bridging Software for Making Tax Digital Categories: EQ AccountingMaking Tax DigitalTaxation With the advent of Making Tax Digital (MTD), HMRC will be expecting all businesses caught within the scheme to submit VAT returns through software, rather than through the traditional Government Gateway. Most software providers have now released MTD compliant software and this may involve paying to upgrade existing systems or changing them completely. Whilst some more
May 14 2019 Working With Our Clients – No Matter The Distance Categories: EQ AccountingHealthcareMaking Tax Digital As well as professionalism, expertise and trust, your accountant should work around you – making your business run more efficiently, rather than eating into too much of your valuable time. Time is something that South Uist Medical Practice, based in the Outer Hebrides, does not have to waste. With their priority being their 1000+ patients, more
May 9 2019 EQ are finalists for the Tax Team of the Year Award! Categories: EQ NewsTaxation We are excited to announce that we have again been shortlisted for the Tax Team of the Year award category at the Business Insider Scottish Accountancy and Finance Awards 2019. Now in their 12th year, the awards recognise achievement in the accountancy and finance sector, rewarding quality, commitment and innovation. We were required to illustrate more
May 7 2019 How to avoid the Annual Investment Allowance trap Categories: Property & ConstructionTaxation Following on from our previous article regarding the recent changes in the Annual Investment Allowance (AIA), businesses need to be careful as any qualifying capital expenditure falling within the allowance could be eligible for 100% tax relief. Below is a more detailed explanation of how you can avoid the AIA trap. On 1 January 2019, a more