What we think

Making Tax Digital Software – What’s the Situation?

Following the release of HMRC’s response to the MTD consultation documents last week, more information is now coming through regarding the practicalities of the making tax digital software requirements. One of the most significant concerns that came through from the consultation and the Treasury Committee is the timescale over which the program will be implemented…. Read more

FRS 102 for Farmers

Not just accountants technical jargon but impacting your accounts One of the most substantial changes to accounting standards in a generation is now in force with the introduction of the key new standards FRS 102, FRS 102.1A for small entities and FRS 105 for micro entities. Whilst this might sound like technical jargon that you… Read more

Albert Goodman and Xero

Making Tax Digital- What you need to know.

Making Tax Digital (“MTD”) is HM Revenue & Customs’ (“HMRC”) drive to make the UK the “most digitally advanced tax authority in the world” and will mean significant changes to how and when we all deal with our tax affairs, with changes coming in from as early as April 2018. HMRC see this as ultimately leading to… Read more

Tax Year End Planning

As the tax year draws to a close, now is an ideal time to consider tax year end planning and whether you have made full use of the reliefs and exemptions available to you: INCOME TAX Tax rates and personal allowances – An individual has a personal allowance of £11K in 2016/17, which means any income up… Read more

Auto Enrolment – Key Points To Note

Is it really necessary? Auto enrolment was introduced decades ago by nations such as Denmark, Switzerland and Holland – the UK is 35, even 40 years behind. It is a legal requirement – there are significant fines for those who don’t comply. Who does it apply to? It applies to all employers – from one… Read more