NEWS AND TIPS

The News And Tips page will be regularly updated with information we consider may be of interest to those running a small business or considering a business start-up in the future.

OUR OWN “SHOWCASE” WEBSITE

Having no previous experience, we have built a website at adminadvice.net which demonstrates a few of the many features you can include when building your own websites. (N.B. Note the fast loading speed from the host servers we recommend).

March 2019 MAKING TAX DIGITAL FOR VAT

Pandle Accounting Software have been added to the HMRC list of software suppliers supporting Making Tax Digital for VAT

February 2019  NEW TOP LEVEL DOMAIN EXTENSION

A fourth top level domain has been added by Google (.com, .net and .org are the others). The .dev (development) was added during February with domains initially available for $10,000 and then $3,000. From 28th February the cost is similar to a .com extension and this provides an opportunity to pick up a domain where previously the top levels were taken. An example, should you be in the golf niche, it has been very difficult to find a relevant domain name, however on 28th February you could acquire golfclubs.dev. I am sure many more opportunities are avalable, I have personally purchased mywebs.dev.

January 2019 BREXIT DELAYS MAKING TAX DIGITAL INTRODUCTION

HMRC has delayed the full roll-out of MTD to focus on the UK’s Brexit preparations. From April 2019, quarterly VAT returns are required to use the approved software, however the planned quarterly tax returns for individuals, scheduled to take effect from 2020 have been put on hold.

January 2019 INTRODUCTION OF PANDLE GLOBAL

Accounting software company Pandle has announced the introduction of Pandle Global. Any business, anywhere in the world can now access their refreshingly simple software which is already helping over 20,000 UK businesses to become brilliant bookkeepers.
Pandle Global offers the FREE version as well as Pandle Pro, website is www.pandle.com

December 2018 SELF ASSESSMENT TAX

The revenue are expecting over 11 million self assessment tax returns to be submitted by the deadline of 31st January 2019. That is a tax return for more than 1 in 6 adults in the UK!

September 2018 HMRC UPDATE ON MAKING TAX DIGITAL

HMRC states it is working with more than 150 software suppliers who have said they will provide software for Making Tax Digital for VAT in time for April 2019.

Pandle Software is ready for MTD within the next few months and will definitely be up and running well before the April 2019 deadline.

July 2018 WORDPRESS GUTENBERG EDITOR

Replacement of the current WordPress editor to the new Gutenberg WordPress editor is expected very shortly with the release 5.0
A member of Wealthy Affiliate has produced a range of videos showing all the new developments. Once again membership of Wealthy Affiliate has kept us ahead of the curve.

April 2018 PERSONAL TAX – THE MARRIAGE ALLOWANCE

Introduced on 6th April 2015, over one million couples are still missing out on a tax reduction which could now be worth £900 (back-dated to 2015). If one partner in a marriage or civil partnership is a non tax payer, they can transfer a portion of their free pay allowance to their tax paying partner. See Pay Less Tax UK.

April 2018 THE GENERAL DATA PROTECTION REGULATION (GDPR)

Businesses are required to be GDPR compliant by the implementation date of 25th May 2018. The GDPR applies to all EU organisations – businesses, charities or public authorities – where the collection, storage or processing of personal data is involved. Non EU countries collecting data of EU citizens are also included under the requirements of this directive.

April 2018 MAKING TAX DIGITAL

From April 2019 VAT registered businesses with a turnover above £85,000 will be required to keep digital records and submit their returns through MTD compatible software. The revenue expect more businesses to commence making returns digitally from April 2019 on a voluntary basis. The plans to extend to other taxes have been delayed to 2020 at the earliest.