Since preparing our tips during December we have been super busy with the January tax return rush! Although I am pleased to say that we were able to meet the deadline for all of our clients…even the one who’s information we didn’t get until 26 January!
February saw us spend time with some new clients and help others with pre-year-end tax planning – keep an eye out for the checklist we are just finalising of things you should be considering before the end of the tax year…it’s just over 4 weeks away – don’t throw away unused allowances!
Last week we spent two days in London at the QuickBooks Connect event. We were able to earn all about the exciting new updates QuickBooks are releasing in the next few weeks and we think they’re GREAT! There are lots of ways which can make your record keeping much more straightforward and less time consuming – leaving you to get on with doing what you enjoy! We also received some updates – direct from HMRC about the Making Tax Digital initiative that will come into effect in April 2019 for ALL businesses above the VAT threshold. We are now concentrating on working with our existing clients to set up systems and potentially move software sooner, rather than later to be ready for the new quarterly reporting requirements. We are also trying to secure some exciting promotional rates for clients that wish to move across to the QuickBooks Online platform, if you are interested please get in contact as we will only have limited licences at the discounted rate – the discounted rate will be for the lifetime of the product and much better than the QuickBooks promotional rates!
At QuickBooks Connect we also heard from some well know people about their business experiences and despite not being a great football fan, found Gary Neville’s interview about his business interests fascinating. He related the team spirit and commitment within Manchester United to that which he resonated in his business interests. Gary Neville has now built a successful business portfolio, not necessarily related to his primary ‘career’. Could you be someone that takes a different turn and develop a successful business?
If you would like to discuss anything regarding pre-year-end tax planning we would be happy to meet with you, all initial meetings are free of charge and on a no obligation basis for potential clients.