The 2020/2021 tax year starts on April 6th 2020 and finishes on April 5th 2021. The tax free Personal Allowance remains at £12,500(to be confirmed in the Chancellor’s Budget). This is tax-free and is applied throughout the UK. Tax Brackets 2020-2021 England, Wales and Northern Ireland. £0 – £12,500 0% (Personal Allowance) £12,501 – £50,000 20% (Basic Rate) …
I use Xero for my Ltd company accounts and I was truly amazed with its wealth of features when I first used it. Xero offers relatively good value pricing for small/medium size businesses. As somebody who used to do accounts for £million+ turnover companies on spreadsheet software. It turned accounting into a pleasure from a …
HMRC will not be providing any free software for Making Tax Digital reporting for businesses and sole traders, and all the major UK software providers have stated since the outset of the HMRC digitisation project that they will not provide free software. The 3 main things you will need to consider when purchasing your software are; The price: Decent Accounting products can cost £1000s for large businesses, …
The HMRC website states the aim of Making Tax Digital (MTD) is ‘making it easier for individuals and businesses to get their tax right and keep on top of their tax affairs’. Making Tax Digital is the new government initiative aimed at simplifying how UK businesses report their income, expenses and taxes. It ultimately means …