Xero Cloud Accounting

Xero is an online accounting platform, allowing you to deal with your business finances on the go. It brings together your real-time bank transactions, invoicing and expenses in one simple dashboard, easily accessible wherever you are.

It saves you time, hassle – and money, too. Because everything you can see, we can see at the same time – putting us in the perfect position to advise you on your financial situation.

WHY XERO REALLY ADDS UP…

Xero is the world’s leading online accountancy platform, already helping more than 200,000 businesses to streamline their financial data. They all love it. We love it. 

Modern cloud accounting software, like Xero can help you in a variety of ways,

  • Manage invoices, expenses & cashflow in real time
  • Send invoices automatically and get paid online
  • Get balances, sales figures & bills on the move
  • Use simple budgeting tools to keep on top of spending
  • Integrate with more than 700+ brilliantly useful apps

Click the link below to find out more about Xero.

https://www.xero.com/uk/features-and-tools/accounting-software/

 

HMRC EXTENDS RTI LATE FILING EASEMENT UNTIL APRIL 2019

 

HMRC has extended the payroll Real Time Information (RTI) late filing easement until April 2019.

Under RTI payroll obligations employers must submit details of payments made to employees on or before the day that wages are paid via a Full Payment Submission.

The updated guidance extends the easement, introduced in April 2015 to April 2019. The easement applies where an employer’s FPS is late but all reported payments on the FPS are within three days of the employees’ payday. This easement applies from 6 March 2015 to 5 April 2019. However, HMRC go on to clarify that employers who persistently file after the payment date but within three days may be contacted or considered for a penalty. Potential monthly penalties range from £100 to £400 depending on the size of the employer.

WALES TO SET DEVOLVED INCOME TAX RATES

From April 2019, the National Assembly for Wales will be able to vary the rates of income tax payable by Welsh taxpayers.

Responsibility for many aspects of income tax will remain with the UK government, and the tax will continue to be collected by HMRC for Welsh taxpayers.

THE PROCESS FOR SETTING WELSH RATES OF INCOME TAX

From April 2019, the UK government will reduce each of the three income tax rates: basic, higher and additional rate, paid by Welsh taxpayers by 10 pence.
The National Assembly for Wales will then decide the three Welsh rates of income tax, which will be added to the reduced UK rates. The combination of reduced UK rates plus the Welsh rates will determine the overall rate of income tax paid by Welsh taxpayers.

If the National Assembly for Wales approves each of the Welsh rates of income tax at 10p, this will mean the rates of income tax paid by Welsh taxpayers will continue to be the same as that paid by English and Northern Irish taxpayers. However the National Assembly for Wales may decide to set different rates ‘to reflect Wales’ unique social and economic circumstances’.