Member Since: 22nd Jan 2010
30th Jul 2020
I imagine they can only have that up and running once the government's Budget has announced a confirmation of tax rates for the following tax year.
Budgets are now normally around November time, so I would imagine it would be available again Dec/Jan time.
Proposed tax rates can change, so you wouldn't want to tell a client "£X" amount is due on account Jan 2023 or later, if that later changes and the client gets annoyed...
Personally, I use my own spread sheet calculation, and only go through projections with clients in Feb - Mar, just ahead of what a tax year is about to start, not 9 months before a tax year starts, where there is little point.
2nd Jul 2020
To say Excel is dinosaur for bookkeeping, is to mis-understand excel.
If a user has poorly formed excel spreadsheets that aren't fit for purpose, then yes, Xero is better. But if you've got an excel spreadsheet that is designed for ease of use, entry speed, and produces all the main reports you'd expect from accounting software: P&L , B/S, aged debtor/creditor reports, VAT reports etc, then from a compliance point of view the bookkeeping takes 50% less time that using something like Xero in most cases. We only use Xero for clients that want more reporting, than what we need for year end compliance.
To talk about excel in general about being good or bad for accounting purposes, is to ask how long a piece of string is.
In the old 1997 version of Excel, there is a cell that, if you put the correct data in, turns excel into a flight simulator computer game. For later versions of Excel, Bill Gates asked the flight similuator code to be removed, as it used up too much space. That was in there just to show the power of Excel. It can basically do anything you want it to, that can be done on a computer.
So Excel is exceedingly powerful, but very few users know how to write proper spread sheets and do the necessary VBA coding.
I took two weeks to write my spreadsheet 1o years ago, that reaps dividends now, at we can do bookkeeping at £59/hour on, and be compareable in price to bookkeepers using Xero. Our year end accounts work is quicker too by about an hour (on say a 11 hour accounts prep job), as it was designed by us to make our lives easier, but Xero is about being "beautiful", not fast for the accountant or bookkeeper.
Not to mention of course all the xero fees that we have saved over the years. I think I paid £150 for MS Office on a few machines 5 years ago last time.
11th Jun 2020
I think the beauty of the 123 sheets Sage bridging option compared to others, is that it excepts the Sage VAT Return summary export without any template, manipulation or mapping, or even need to open excel. It also covers all versions of Sage 50/Instant/Profesional going back to 2007 odd (V.13), which I think is when Sage first started allowing to export the VAT Return Summary into Excel. They have a similar facility for QB as well going back to 2003 version it think it is.
28th May 2020
HMRC has rules on business splitting to stay under the VAT threshold, it has thought of that one before you were born.
The only way it can be done legitimately, is where are there separate businesses. That means: different website, separate advertising, separate assets, separate databases, separate logics, seperate expenses etc etc. There is no way it would work if you had one website for them all, or used the same systems.
28th May 2020
Yeah, but that is the paid ads at the top, which the majority of users scroll past.
I wouldn't really use the paid ads myself for accountancy advertising, as I reckon Google does very little to stop competitors and others who have no intention of buying just clicking your link and just cost you 50p or more a click!
30th Apr 2020
I see on Taxfiler's website, that its 10 clients for £10/month.
How is the 10 clients calculated?
Is that 3 clients (out of the 10) for say:
2 x owner-managers personal tax returns and Accs plus CT600 for their LTD company?
Or does each module ptax, ctax and Accs each have a total of 10 clients max, so you could have 30 clients (in theory)?
28th Apr 2020
When your taxes get jacked up to pay for the COVID-19 hand outs, you'll wonder why you didn't take the £10k, just to help pay the extra £20k COVID-19 tax bill you end up with in a couple of years time.
Why do you think Gordon Brown reduced VAT to 15%? It was just so that no-one would complain in a couple of years time when he stuck it up to 20% permanently thereafter as a quid pro quo.
19th Mar 2020
If you are currently using spreadsheets to do your bookkeeping, I think you'll find any other solution will simply take longer and cost more. We use excel spreadsheets for bookkeeping simply as it is the most profitable way of doing bookkeeping (for compliance only companies that don't need management reporting), so we aren't in a rush to pay for online booking that takes twice as long and costs more. Some might say that excel isn't that quick, but I would argue that is due to the design of their spreadsheets.
HMRC do not have a problem with spreadsheets what-so-ever. As long as you aren't doing "copy and paste" as a form of entry into the bridging software, you don't have a problem. You should just be using a simple "=" sign in a cell of the spreadsheet to pick up and move totals around between worksheets in a spreadsheet, or between spreadsheets and "=sum()" to add figures up etc.
You are allowed to use copy and paste, to first enter the data into the bookkeeping (eg from a downloaded csv/excel file from the online bank service), as first entry into any bookkeeping software usually requires manual entry at least somewhere.
If you look at the HMRCs MTD vat notice, even a client emailing you their spreadsheet is a "digital link", if you are copy and pasting that into the bookkeeping that is fine, as what they sent you wasn't yet the bookkeeping but you are then putting that into the bookkeeping at that point. Look at VAT Notice 700/22 for a full list of all the various ways that constitute a "digital link", there are example scenarios of software useage down the bottom, you'd be amazed at what constitutes a "digital link".
18th Feb 2020
Hum, not sure if that first answer is correct. I would argue that ANY GRF should be included, not just GRF considered on a client-by-client only basis. If you add up the advisory work, you do across a year, although much of it may well be a one-off for each client, it may well likely be a steady income each year on year, though coming from different clients.
I would say add in an extra row in your GRF for "average" non-standard advisory work, that is a Gross Recurring Fee if you do such work every year. That is as the first answer states "regular recurring fee income".
14th Feb 2020
You are not alone. Ihad (or possibly still have) the same problem.
I spoke to vat helpline and vat online services, and they both said to notify the CAAT (central agent authorisation team), so I wrote to them.
They wrote back and said the new ASA wasnt part of their brief. I called vat helpline again and they then said hmrc havent developed a way yet for agents addresses to updated on the ASA.
Another problem I had, which you may have too is that when a member of my staff called, because they wern't me, they didn't allow them to talk to hmrc about a client, as my asa had been linked to me personally!!
I think I managed to sort all this out by playing around with names and possibly addresses too inside the agent account by managing staff and changing the name of the asa accoint to my practice name etc. Staff have now successfully dealt with hmrc on behalf of clients for vat.
Since then, things seem to be ok.
I still personally use the old online agent authorisation, where the client gets a code in the post, as I understand the new digital way still has teething issues. I havent tried using the new digital authorisation process via the ASA account yet, maybe that will send emails to clients with my home address shown I dont know!!