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Taxpayer Is Fined By HMRC For Submitting a Tax Return Using Employers P60 - How Using A Tax Advisor Can Save Money

With the tax return deadline drawing close we read with interest a report by accountingWeb on an employee who was fined by HMRC for submitting his tax return using his P60 which was issued by his employer, it was found that the employer had made an error on the P60. The tribunal found that the error in his P60 was the fault of his employer, the mistake meant that earnings between April and August were not included on his P60, he used the figures on this P60 for his tax return. The tribunal looke...

November 11, 2019

Come Along To Bucks Bizz Networking's First Birthday Celebration on Thursday 19th September at Flackwell Heath Golf Club

Bucks Bizz Networking would love as many people as possible to celebrate their first birthday, raising a glass to their successful first year and to many more. Tickets must be booked in advance so book now to avoid disappointment. Please see the invite for booking information or visit https://www.bucksbizz.co.uk/event/1st-birthday-networking-event/Who Are Bucks Bizz Networking?They are a business networking group with a community focus, based in High Wycombe, Bucks. Started by seasoned netw...

September 5, 2019

Xero Bank Feeds Are Changing......

Xero users will be affected by the new EU requirements for the banking industry that come in to effect on 14th September, 2019. Designed to give you more control of your banking data and how it’s used. Whilst this is welcomed it means the way that Xero retrieves the information from your bank has to change and you need to update Xero, this will ensure your transactions can continue to flow into Xero each day. We have more information on our website, click here for open banking help.N...

August 1, 2019

If You Use Hubdoc, This is a Must Read

Hubdoc's have advised that there are upcoming industry-wide legislative changes that will impact Hubdoc’s bank fetching capabilities in Europe and the United Kingdom. What regulation changes are being introduced? The second Payment Services Directive, or PSD2, is legislation adopted by the European Union in 2015 to encourage the development and use of new financial technologies, such as Open Banking.  As part of PSD2 compliance, new EU standards are scheduled to come into effect on 14 Se...

August 1, 2019

Cashtrak Are Pleased to Announce That We Have A New Member of Staff

We are pleased to welcome Caroline to our growing team. Caroline is an experienced bookkeeper with a demonstrated history of working in the accounting industry. Caroline is also skilled in sales, management, account management, Microsoft Excel, and invoicing. She's a strong accounting professional accredited by the ICB. Caroline brings a wealth of bookkeeping experience and a passion for payroll! She will be managing our payroll portfolio and some ad hoc clients along the way. All of u...

August 1, 2019

31st July Self Assessment Tax Return Deadline

If you're self-employed and pay your tax through payment on account, 31 July marks the deadline for your second payment. The amount you have to pay is based on your earnings for 2017-18. You must submit your tax return as you did in January.  'Payments on account’ are advance payments towards your tax bill (including Class 4 National Insurance if you’re self-employed). You have to make 2 payments on account every year unless: Your last Self Assessment tax bill was less than £1,000...

July 5, 2019

Loving the New Xero 50% Off Offer!

Xero have been very busy recently! They have launched their first UK TV advert, became MTD compliant, were at at the recent Accountex exhibition and have now announced they are offering their monthly subscription for 50% off for up to 4 months when applied for by 30th June, 2019. This gives users a fantastic opportunity to see why we love Xero - it will revolutionise your business!  it is so easy to use they have 24/7 supportthe dashboard is customisable allowing you to keep track of b...

June 13, 2019

Automated Credit Control - Chasing Debtors with No Effort!

Everyone knows these sort of clients - you have to put so much time and effort in to getting payment for the service you have provided. There are lots of reasons clients pay late:Cashflow problemsUnderstaffedForgetfulPoorly organisedBecause they want to!So how do you deal with them? In an ideal world we would only deal with the perfect payers but we don't live in an ideal world. Lots of e mails and phone calls could do it, visiting in person, threatening to put a stop on the account, debt collec...

May 30, 2019

We are Recruiting! Two Bookkeepers Needed

Successful, multi-award winning, friendly bookkeeping practice require 2 superstar bookkeepers! Due to continued growth we need 1 part time bookkeeper and 1 full time bookkeeper. These are ideal positions for recently qualified bookkeepers with no desire for running their own practice however applications from experienced bookkeepers would be welcomed. This is a home-based role with regular office attendance required (training period will be mostly office based.) Should be located within 25 mile...

May 20, 2019

Self Assessment Tax Return - Why Submit to HMRC Early?

It may be a surprise to learn that we have already written to our self-assessment tax return clients asking them to start thinking about their submissions and sending their paperwork to us as soon as possible and we have started to submit some of our early birds tax returns! So, why are we doing this so early? The tax return deadline isn't until 31st January. Well: Historically, deadline day is the busiest single day for filing. There were more than 11.5 million taxpayers required to file their ...

May 17, 2019

Cashktrak are Collaborating with Eight Wealth Management and Xero to Host an Informative Seminar on MTD

We are delighted to announce that Cashtrak, Eight Wealth Management and Xero are joining forces to present an informative seminar on the recent changes relating to MTD (Making Tax Digital.) All three companies have had a lot of questions from clients about MTD so we believe this seminar will provide an invaluable insight in to MTD. The invitation is open to everyone. We will cover: What is MTD? Why it is important to your business? How to prepare your business for MTD with accounting software Th...

April 11, 2019

Re-Enrolment - What an Employer Needs to Know About Employee Pensions

As part of auto enrolment legislation, you have a duty to assess and re-enrol eligible employees into your workplace pension scheme every three years. Once you’ve carried out re-enrolment for the first time, your next re-enrolment window will be calculated from your previous re-enrolment date. Since you started your pension scheme, some of your employees may have left, stopped paying pension contributions, or chosen to pay less than the minimum automatic enrolment contributions. In any case wh...

April 4, 2019

We Love to Hear Fantastic Feedback from Clients

Cashtrak provide a bespoke bookkeeping service that we tailor to our client's needs. We work hard to provide a wide range of services from self-assessment tax returns to VAT returns ensuring that they are cost effective, check out our website for more information on our services: www.cashtrak.co.uk/page/services. We strive at Cashtrak for customer satisfaction so we are always grateful for positive feedback from our clients.  Karen Kimberley at The Engagement Ring www.theenga...

March 26, 2019

Workplace Pensions Minimum Contributions Increase

The minimum contributions for your automatic enrolment workplace pension scheme will increase from 6 April 2019 (also known as phasing.) Whilst a lot of payroll providers have software that will automatically manage this, it is the employers responsibility to make sure these increases are implemented. If you don’t have any staff in a pension scheme for automatic enrolment, or if you are already paying above the increased minimum amounts then you don’t need to&nb...

March 20, 2019

Exciting News... Cashtrak Are Expanding!

We are pleased to welcome Andrea Williams to the Cashtrak family. Carol met Andrea through Carol's role as the Chair of the Oxford branch of the Institute of Certified Bookkeepers (ICB) meeting and realising Andrea's professionalism, thoroughness and love of bookkeeping meant that once a role became available at Cashtrak, Andrea was the obvious candidate. Andrea is busy training and looking forward to be let loose on a portfolio of our clients....

March 15, 2019

Cashtrak is a Fluidly Silver Partner! Cashflow and Forecasting - The Next Generation

During our trial with Fluidly we were blown away with its flexibility and automation, cashflow forecasting and credit control all in one.What is Fluidly? Accounting software records what has happened in the past. Fluidly powers your financial future. Cashflow forecasting is the gateway to financial decision-making. Intuitive cashflow forecasting powered by AI. Fluidly is for modern businesses that want to know exactly what their financial future holds and how to optimise it. Fluidly takes t...

March 1, 2019

Our Charity of the Year - Thames Valley Air Ambulance are on TV!

The second, 10 part series of Emergency Helicopter Medics starts on More 4 on Sundays at 9pm - tune in to see how our support helps the life saving work TVAA so brilliantly undertake.  The series gives a unique insight into the lifesaving work of three local air ambulance charities, this new second series takes viewers from behind the scenes to the frontline of saving lines. Alongside East Anglia and Great North Air Ambulances, you'll see how Thames Valley Air Ambulance brings the expe...

March 1, 2019

Making Tax Digital for VAT (MTD) is less than 2 months away, are you ready? Cashtrak can help you!

Making Tax Digital (MTD) is less than 2 months away, are you ready? Cashtrak can help you! Making Tax Digital (MTD) is an HMRC initiative designed to make sure the UK tax system is effective, efficient and easier for taxpayers. Making Tax Digital for business (MTDfb) begins on 1 April 2019 with MTD for VAT. From that date, VAT-registered businesses above the threshold of £85k will have to keep digital records and submit VAT returns using compatible software.  HMRC lists Xero as software th...

February 19, 2019

Cashtrak are winners again!

Cashtrak are proud to announce we won the Institute of Certified Bookkeepers LUCA award for large practice of the year!  We are incredibly honoured that our hard work and commitment to our clients and the Institute of Certified Bookkeepers has been recognised and Cashtrak are delighted to be the only practice to be awarded this prestigious title twice!   ...

February 8, 2019

Not long now until the LUCA Awards 2018!

It is not long now until the 2018 LUCA Awards.  Described as the 'Oscars of the bookkeeping world' the profession's most prestigious awards will be presented during a three-course dinner on Monday 26 November at the Radisson Blu Edwardian Hotel at Heathrow.  Carol and Aaron will be attending and look forward to catching up with other bookkeepers and learning more about the future for our profession....

November 23, 2018

Did you pay too much tax last year? 

You met the Self-Assessment deadline of 31st January with ease and also paid your tax liability. However, you feel that perhaps you have paid too much tax?      Does this sound familiar?  If so, you are not alone. Here are a few of our tips for consideration during the current tax year to help mitigate the impact of your tax liability:   Keep accurate records throughout the year, supported with management accounts, so you can easily&nbs...

November 16, 2018

Luca Awards 2018 Finalists Revealed

Fantastic news - Cashtrak has been shortlisted for FIVE of the Institute of Certified Bookkeepers LUCA awards! This is an incredible achievement and we are so proud to be on the shortlist. The LUCA Awards are the ‘Oscars’ of the bookkeeping profession and are presented by the Institute of Certified Bookkeepers in recognition of the year’s outstanding bookkeepers and the many organisations that complement the valuable work that they do. The winners of the 2018 Luca Awards will be annou...

November 9, 2018

Poor cash flow: Are you simply spending too much?

As soon as you become a business owner, you immediately become very popular. This is because everyone makes two assumptions about you. The first is that you have lots of money. The second is that you are prepared to spend that money on making your business a success.   Clearly you do need to spend some money on your business. There are stories of entrepreneurs' who have made their millions by spending absolutely nothing, but it's probably safe to assume this is not going...

October 16, 2018

We have a new team member!

We are delighted to announce that Stacey Woodford has joined the Cashtrak team as our Office Manager. Stacey comes from a background in electronic engineering and facilities management, and has a wealth of troubleshooting and project management experience. We were looking for a member of staff who could keep our team organised, manage workflow, and support Carol as the Cashtrak business grows, and Stacey is very well qualified to take on this role. Welcome to the team Stacey!...

September 28, 2018

Are tips taxable?

Confusion often arises regarding tips and gratuities as the tax and NIC treatment depends on how they are paid to the recipient.  Cash tips handed to an employee, or left on the table at a restaurant and retained by that employee, are not subject to tax and NICs under PAYE, but the employee will need to declare the income to HMRC – HMRC often make an adjustment to the employee’s PAYE tax code number to reflect the amount likely to be received during a tax year so any liability is collec...

September 14, 2018 Posts 1-25 of 58 | Page next
 

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