Category: Personal Tax
How are you handling home-working relief?
The shift to hybrid and remote working that was accelerated by the pandemic did, for a time, bring about financial relief for those who had to adapt to the new situation. While the pandemic is a somewhat of a distant memory now, the culture of work has been changed forever by the discovery of how […]
Read More
HMRC’s digitisation of the tax process: How to keep up
In order to better regulate general compliance, HM Revenue and Customs (HMRC) are working to digitise many aspects of taxation. Under the umbrella scheme of Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA), HMRC are looking to remove paper filing for Self-Assessment tax returns. By far, the biggest impact this has is on […]
Read More
How do you protect your clients’ sensitive data?
Traditional data-sharing methods leave businesses vulnerable to security breaches, lost information, and non-compliance with stringent data protection regulations. That might include: However, under the UK GDPR and the Data Protection Act 2018, firms are legally required to protect personal and sensitive data. This includes implementing security measures that prevent unauthorised access, ensuring data is stored […]
Read More
Did ITSA overwhelm your firm this year?
Now that January has finally passed, many accountancy firms are taking a collective deep breath. The mad dash to meet the ITSA (Income Tax Self Assessment) deadline is over – but at what cost? For some, late nights, stressed staff, and a flurry of last-minute client submissions defined the month. Others may have faced the […]
Read More
How to encourage client engagement during Self-Assessment season
It’s Self-Assessment season! Are you going to let this one fall into chaos or have you got the right systems and processes in place already? A massive consideration for all of you should be client communication. Without having a solid line of communication with your clients you risk late submissions, frantic data gathering, and last-minute […]
Read More