Category: Pensions

FREE Sage Accounting Package for Every Active Taxfile Customer!*

comments Comments Off on FREE Sage Accounting Package for Every Active Taxfile Customer!*
By , January 15, 2016

Free Sage accounting and bookkeeping software package for all Taxtile customersCalling all South London small businesses – claim your FREE* Sage accounts & bookkeeping package from Dulwich accountants Taxfile.

When you’re an active client of Taxfile, whether new or existing, we can supply you with your own Sage accounting package, free of charge*, and we’ll even help set it up for you! There are various packages to choose from and we’re happy to advise which is best for you and your small business. They’re great for anything from simple bookkeeping to full accounts handling, allowing easy record-keeping, bank reconciliation, the handling of VAT (including VAT returns), RTI submissions, automatic tax and National Insurance calculations and filing, and even Auto Enrolment communications for your employees. There is also a low-cost Payroll bolt-on option for those who would like to control their own payroll.

Sage cloud-based accounting and bookkeeping software packages

The Sage Software Packages:

  • Our free* ‘Sage One Cashbook’ package is great for bookkeeping and cash flow management — perfect for sole traders and cash-based businesses. It’s cloud-based so all you need is an internet connection and you can access your records from anywhere;
  • Our free* ‘Sage One Accounting’ package is better suited for small businesses, including start-ups, and includes the ability to manage finances, create quotations and invoices (including via a phone/tablet app), prepare VAT returns and even automatically stream your bank statement information straight into the package via an automatic ‘feed’ making it great for bank reconciliation and helping to make sure you account for all your business expenses. The integral bank feed even learns how to recognise regular transactions so the software is able to account for them in the best way;
  • Our ‘Sage One Payroll’ package is a low-cost bolt-on for the above, suitable for businesses who want to handle their own payroll (fully, or assisted by Taxfile) and who have 15 employees or less. It helps small businesses sort out payroll including payslips and tax calculations as well as helping them to stay within the law, keep up to date on financial regulations and even handle RTI submissions and employees’ Workplace Pension Auto-Enrolment communications. Nearly all small businesses with employees must implement such communications to inform employees of their rights in respect to Workplace Pension contributions, so such automation is a great feature and an immense time-saver.

All the software packages are secure, cloud-based so can be accessed from anywhere that has an internet connection, and have direct links to HMRC for easy filing, where appropriate, for things like tax returns, VAT returns, National Insurance and RTI etc. Calculation of what’s due to HMRC can be automated with the software and then paid and filed from the package. Such links and automation will become more and more useful and important into the future as Continue reading 'FREE Sage Accounting Package for Every Active Taxfile Customer!*'»

Automatic Enrolment for WorkPlace Pensions: Many SMEs Are Still Confused

comments Comments Off on Automatic Enrolment for WorkPlace Pensions: Many SMEs Are Still Confused
By , August 26, 2014

Back in April we wrote about the new Workplace Pensions and Automatic Enrolment. Since then some concerning information has been brought to light following some research by HW Fisher & Company:

  • 67% of the 750 SMEs responding to the survey said that they have no idea when their ‘Staging Date’ is;
  • 49% of them said that they understand little or nothing about the preparations they will have to make;
  • 35% said they don’t know how to start the process so have done absolutely nothing so far;
  • 30% of the respondents are concerned about the set-up costs;
  • 32% of them said that they do not know how to gauge the future impact of participating in Workplace Pensions;
  • 62% are worried about the costs of continuously having to make employer contributions to staff pensions;
  • and 47% voiced concerns about the additional administrative overhead which would be involved managing the scheme.

The findings are not surprising. After all, many SMEs will not have any previous knowledge of dealing with staff pension schemes, nor will they have experience or perhaps even the budget to cover the associated costs. While the reasoning behind the introduction of WorkPlace Pensions and Automatic Enrolment is sound, the reality is that this is likely to become another unwelcome administrative burden for the smaller business owner – and of course it represents Continue reading 'Automatic Enrolment for WorkPlace Pensions: Many SMEs Are Still Confused'»

Workplace Pensions & Automatic Enrolment

comments Comments Off on Workplace Pensions & Automatic Enrolment
By , April 24, 2014

Between October 2012 and 2018, all UK employers must have complied with the new government initiative and have enrolled all eligible staff into a new ‘Workplace Pension’, a process known as automatic enrolment. Employers will each be allocated a staging date, which is the date by which they must launch the new Workplace Pension scheme for eligible employees. Failure to comply could mean penalties and enforcement actions being taken against the non-compliant employers.

Who pays in?

  • Employees who do not opt out of the scheme* will pay a minimum percentage of their earnings above £5,668 (figure correct at time of writing);
  • Employers will also contribute to the pension fund for employees;
  • The Government also helps because payments into the scheme are, in effect, tax-free.

What date do employers have to launch the scheme?

The date that the scheme goes live will vary from one employer to another, based primarily on the number of employees in the organisation. Larger employers will launch earlier (from October 2012) while those employing only a few employees will launch later (up to 2018). The exact launch date is known as the ‘staging date’ and employers can find out their own particular staging date by visiting this link and entering their PAYE reference. The Pensions Regulator advises that, once they know their staging date, employers should begin preparations at least 12 months in advance.

A quick PDF guide to preparing for automatic enrolment can be found by right-clicking this link or by visiting the Pensions Regulator help area. Tools for creating an employer’s action plan are also available, here.

Eligible Staff

Eligible staff are employees who Continue reading 'Workplace Pensions & Automatic Enrolment'»


Follow

Get every new post delivered to your Inbox

Join other followers: