Taxfile Autumn 2017 Newsletter

Autumn Newsletter 2017 – Tax News, Tips & Recommendations

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Taxfile's Autumn 2017 newsletter for limited company clients

Taxfile’s Autumn 2017 newsletter for limited company clients is ready to view. It’s jam-packed full of useful tax- and Taxfile-related news so grab a hot drink and take a ten minute read. It may save you money and will certainly make you aware of some important HMRC deadlines coming up in the near future. Articles include:

    • Farewell to Ali
    • Bank Downloads Save Time & Money
    • Deadlines & Key Dates
    • The Future is Digital
    • Accounting for VAT
    • Have you made a Capital Gain?
    • Assets Overseas? Non-Resident Landlord? Read This!
    • Do you Employ People?
    • C.I.S. Subbies: Claim your Tax Refund for Christmas!
    • The Benefits of Using Taxfile
    • All Your Tax & Accounting Needs Taken Care of
    • Tax Affairs in a Mess?
    • Who Works at Taxfile?

You can Read more

Taxfile is a Finalist in the British Accountancy Awards 2016

Taxfile Nominated for Major Accounting Award

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Taxfile nominated as Finalist in the British Accountancy Awards 2016

Taxfile is delighted to be a Finalist in the ‘Independent Firm of the Year, Greater London‘ category of the sixth annual British Accountancy Awards 2016. It’s a great honour and Taxfile’s Founder, Guy Bridger, would like to pass on his congratulations to all Taxfile staff, particularly Julie, Ewelina, Faiz and Ali, as this is recognition for all their hard work. Taking place on the 29th of November at The Brewery, London, the event promises to be a night to remember with a three-course dinner, guest host and the Awards ceremony itself. More information about the awards, and those shortlisted, is available here.

Taxfile’s Dulwich office specialises in accountancy-related work for limited companies and SMEs. Part of that includes year end accounts as well as handling of corporation tax, income tax and payroll, NI, VAT and company formations. Taxfile also recently launched its service to help companies with their Auto Enrolment duties in relation to the new Workplace Pensions. So, really, Taxfile can help with anything from simple bookkeeping and tax returns to complex tax problems. Call 0208 761 8000 for further information, book a 20 minute appointment online here or send us an emailed message here and we’ll be happy to help.

The Dulwich office of Taxfile is at 11a Turney Road, London SE21 8LX.

Free accounting software package

FREE Sage Accounting Package for Every Active Taxfile Customer!*

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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 Read more

Taxfile newsletter (Autumn 2015)

Read Taxfile’s Autumn Newsletter & save money!

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Taxfile's Autumn Newsletter 2015We’re pleased to announce that Taxfile customers can now download our latest newsletter in Acrobat PDF format right here. Featuring in this Autumn newsletter are the following:

  • Early Birds save 5% by coming to Taxfile before Christmas;
  • Write a testimonial about Taxfile’s service and save £10 off your Taxfile bill;
  • Introduce a new client to Taxfile and save 12½% off our prices;
  • Taxfile’s latest high-tech services & facilities;
  • Useful tips;
  • And much more!

Left-click this link to open the Acrobat PDF in a new browser window. Most browsers will be able to display the PDF but if yours does not, right-click the link instead, then choose the option to save the file to your hard drive before manually opening it in Acrobat.

Save time on your bookwork, at no extra cost

Save time on your bookwork, at no extra cost

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At Taxfile we know that book work isn’t your top priority so we’re currently implementing a new system that will save you time on your book work (without costing you a penny extra) and also allow us to provide a better service to you.

Bankstream is a new service that, with your permission, enables us to securely collect electronic copies of your bank statements directly from your bank so as to make the analysis of your expenses and income much easier and faster. You continue to receive your statements as normal but no longer need to provide us with copies of them.  Bankstream does not give us access to your banking account so doesn’t give us the ability to create, amend or affect transactions on your account (no passwords or PINs will ever be requested from you — it’s completely safe). It simply gives us an additional electronic copy of your historical bank transactions so as to make accounting analysis easier and faster.

Bankstream

The Bankstream service itself is FREE to Taxfile customers (we absorb the cost). If you are interested in spending less time on your book work, ask us for a Bankstream Authority Form. Call 0208 761 8000 or find out more here.

Beat the price increase

Save Money — Beat the December Price Increase!

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Save money on your accounting - act fast!If you are the director of a Limited company, in a partnership or are self-employed, your personal tax return is due on 31 January 2015. You are strongly advised to supply your records, bank statements, receipts etc. to our Dulwich office in South London as soon as possible, please, so that you are not caught in a last-minute rush — Taxfile has several hundred tax returns to complete, so the earlier the better. Some limited company ‘year end’ accounts will also fall due on 31 December 2014 or 31 January 2015. For those businesses, it’s exactly the same message — time is of the essence.

As an added incentive, if you get your accounting records to Taxfile before 1st December, you will beat the December price rise. Taxfile has held its prices for several years now and Read more

Taxfile Newsletter Autumn 2014

Autumn Newsletter Ready to Download

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Autumn Newsletter 2014We have just completed our Autumn newsletter for customers and anyone else interested in our services and potential ways to save money on accounting, bookkeeping and tax for small and medium-sized businesses. Included in this edition are some time-sensitive articles including ways to avoid a small price increase if you act fast, ways to save time on your bookwork by using something called ‘Bankstream’ which is supplied free to Taxfile customers, how to get an early bird fee reduction if you submit your records to us before the end of December, a reminder about the free ‘tax enquiry fee protection’ service available to our customers (a couple of small provisos apply) and lastly a ‘mind map’ diagram showing interesting and useful information about our lovely multi-lingual staff. Download the newsletter here (Acrobat PDF file: right-click to save the PDF to your hard drive then open it in Acrobat Reader. Alternatively left-click the link to view the newsletter directly in most browsers).

Automatic Enrolment for WorkPlace Pensions

Automatic Enrolment for WorkPlace Pensions: Many SMEs Are Still Confused

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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 Read more

Automatic Enrolment for WorkPlace Pensions

Workplace Pensions & Automatic Enrolment

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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 Read more

Business Club Meeting

Business Club Meeting

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A Fair Tax On Profits

This event is free of charge to members of the London Southside Chamber of Commerce and their guests.

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The presentation should be of interest to anyone seeking a greater understanding of how individuals and businesses are taxed. Guy will outline the expectations of Her Majesty’s Revenue and Customs (HMRC), illustrating how individuals and organisations share the same responsibilities in calculating profits and managing their tax affairs. He hopes to enliven the debate about how we should deal with the challenge of maintaining profitability and paying tax and will explore the concept of what is fair in today’s society and suggest measures to create a more level playing field.

Date & Venue:

Tuesday 5th February 2013, 6:30pm to 8:00pm
Anthony Gold Solicitors, The Counting House, 53 Tooley Street, London Bridge City, London SE1 2QN

Booking:

Email: gerry@londonscc.co.uk
Phone: 020 3174 0989 or 07958 584479
A free buffet with wine and soft drinks will be served.

Guy Bridger, the speaker, is an accountant and tax advisor with offices in London and in Devon. He has won several awards and has recently been advising the Office of Tax Simplification.