VAT PENALTIES

  NO VAT PENALTIES FOR MISSING THE FIRST QUARTERLY MTD DEADLINE If you pay your VAT quarterly by direct debit the sign-up window has closed. This is for the 7 August (30 June quarter) submission. Do not worry as HMRC have announced that there are no VAT penalties this time. You may file the old...

Xero Integration: Taking your time…

Making Tax Digital for VAT became mandatory in April of 2019. It applies to the majority of businesses with a taxable turnover above the VAT threshold of £85,000. These businesses needed to move from a manual or desktop accounting package to an online package. They would need to use software to submit their VAT returns...

XERO: WE’VE BECOME A GOLD PARTNER!

  As a result of ever more Rawcliffe clients using Xero we have been awarded the status of Gold Partner. MTD compatible software like Xero will be mandatory for businesses above the VAT threshold who VAT return information to HMRC. As it stands for other businesses, MTD will become mandatory in 2020. It is important that all our clients...

The Making Tax Digital Timeline 2015 -18

Are you still a little fuzzy when it comes to Making Tax Digital– what’s it all about and does it affect your business? Fear not, as we’ve condensed all our MTD posts from the last two years into one Making Tax Digital Timeline. If you just want to know where things are up to presently then skip to...

Xero: Manage Your Business on the Go

The way HMRC wants information from tax payers means that you may need to move from your existing desktop or manual record keeping and onto an online accounting package. The good news is we are certified in the installation and operation of Online Accounting software. Its is digitally compliant and specifically designed for small and medium...

Xero: Why Your Business Should Make the Switch

As Making Tax Digital draws ever closer you may have noticed an increase in our references to Xero; cloud accounting software that is compatible with MTD. Aside from the fact that the implementation of this kind of software will be mandatory, switching to Xero can offer you business a vast array of benefits including the ability...

MAKING TAX DIGITAL FOR VAT GUIDANCE ISSUED

HMRC have now issued their detailed guidance on the digital record keeping and return requirements for Making Tax Digital (MTD) for VAT.  VAT Notice 700/22 clarifies that spreadsheets may still be used to keep business records provided that there is bridging software that links to the Government gateway. There will however be a one year “grace”...

XERO: WE’VE GOT SILVER STATUS!

We are very pleased to announce that we have now received Silver Status as a Xero Partner! Rawcliffe & Co has been a Xero Partner for some time now and an increasing number of our clients are reaping the benefits of signing up to  Cloud Accounting Software. So what are the benefits? You can manage...

RECEIPT BANK FOR RAWCLIFFE CLIENTS

    At Rawcliffe & Co we are always looking for ways to make our clients’ lives easier. Our latest initiative is Receipt Bank, the award­-winning app that automatically converts all your invoices and receipts into data, making it easy for you send your financial information straight to us.       With Receipt Bank’s easy submission...

MAKING TAX DIGITAL DELAYED FURTHER, APART FROM VAT REPORTING

HMRC have confirmed that no further MTD for business changes will be brought in before 2020 at the earliest. The Treasury set out its revised priorities for current digital transformation projects, to make room for the additional demands on its resources of work to upgrade customs systems in preparation for Brexit. The HMRC statement notes...