Business Accounts

HMRC has launched a new secure online service called Personal Tax Accounts. The idea is that individuals, once registered, will be able to log in and see details of their employment(s) and their tax codes for each source of employment.  They will also be able to generate an estimate of any tax deductions.

The benefits of this system are that if any personal details are incorrect or the tax codes are wrong, you will be able to adjust these online, instead of spending hours waiting to speak to a HMRC advisor.

You know you have seen hundreds of invoices, but you can’t for the life of you remember what should be on there and where. Here are some guides on how to invoice your customers.

HMRC has obtained details of all debit and credit card payments made to UK businesses and is giving businesses the chance to declare unreported income via their new campaign.

 This is an opportunity for any business who has not declared all, or some, of their card income to voluntarily disclose unpaid amounts. HMRC has stated that businesses that do this will get preferential terms and anyone who does not come forward will face higher penalties and possibly criminal prosecution.

Bookkeeping. Everyone loves it, right?

What do you mean you can think of better ways to spend your weekend?

That’s the problem you see, when I asked a few people how long it took and when they last did their bookkeeping the replies included: