For over 30 years Richard Edwards Group LLP has been providing excellent advice and a first class service to our clients. We have a large portfolio of clients and service businesses across many sectors. Book one of our FREE INITIAL MEETINGS to start benefiting from our expertise today.

Self Assessment Deadline

 

 

Now that the festivities are finished and the decorations taken down for another year it's time to turn your attention to the looming self-assessment tax return deadline.

HMRC impose automatic financial penalties if your tax return is filed late, if only by one day, and, these fines continue to increase until your return has been successfully received.

We have a specialised tax team who can offer you a helping hand with your tax return and provide advice where required.

If you would like us to assist with your tax return or any other matter then please contact the practice. We offer a free, with no obligation, meeting to assess your requirements and would be delighted to welcome you to either of our offices.

 

Making Tax Digital

MTD Logo

April 2019 sees the start of HMRC's Making Tax Digital initiative for VAT (MTDfV) for most businesses. The new rules will impact VAT registered businesses with taxable turnover above the £85,000 registration threshold, taking effect for VAT return periods starting on or after 1 April 2019.

There have been several recent developments, including the publication of a new VAT Notice covering MTDfV requirements, and the announcement of deferrals for some 'more complex' businesses. Please see attached a pdf copy of our recent newsletter to help guide you through the jargon and answer many of your questions in a concise manner.

Making Tax Digital will affect how we currently service your bookkeeping, and we'd like to talk through your options for how we can get you ready ahead of April 2019.

If you are currently using Excel or manual records to record your financial activity and VAT liability you will need to find a suitable, MTD compliant, alternative and we recommend Sage accounting cloud software to manage your accounts and keep digital records of transactions.

Sage Business Cloud Accounting is simple yet powerful cloud accounting that's packed with innovative features to help your business succeed:
• Perfect for small businesses
• Ready for Making Tax Digital
• All you need to manage finances and cash flow
• Secure in the cloud
• Easy-to-use mobile app for receipts, expenses and invoices
• Range of apps to help you get paid faster, reduce admin and be more productive

 

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Topping up your self-employed NIC contributions
13/03/2019 - More...
In many circumstances it can be beneficial to make voluntary Class 2 National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New

Lost your Unique Tax Reference number?
13/03/2019 - More...
Your Unique Taxpayer Reference (UTR) identifies your tax records at HMRC. The number is also known as your taxpayer number or tax reference number and should be used whenever you