MAKING TAX DIGITAL DURING COVID-19

Three things that have made lockdown manageable: my daily walk, many chocolate biscuits, and the cloud. No, not the cloud I watch float by my window as I daydream about my next getaway, but cloud accounting. It’s tough to comprehend what the past few months would have consisted of if the movement towards making tax[…]

DIGITAL ACCOUNTING UPDATES

HMRC PASSWORD UPDATES HMRC will be changing its password rules this month, we recommend that use the HMRC password reset service to create a new password. You should then use your new password to access HMRC’s services from FreeAgent/QBO/Xero. If you choose not to reset your password, you may not be able to access HMRC[…]

CHANGES TO YOUR BANK FEED

If you use cloud accounting software such as FreeAgent, QuickBooks or Xero, important changes are taking place in September that will affect you.   The open banking initiative runs alongside the EU’s Second Payment Services Directive (PSD2) which came into force in January 2018. The effects of PSD2 are starting to roll out, and if[…]

The Benefits of Online Accounting

  MMG Archbold is a fully accredited Quickbooks Accountancy. Here are some of the benefits of using online accounting, specifically Quickbooks:   Accessible Users can access the software remotely to view reports and review the organisation’s finances. The app is also available for your smartphone or tablet You can add unlimited users with different levels[…]

New Scottish Income Tax Rates and Bands

From 6 April 2018, new Scottish income tax rates and thresholds will apply:   Income (£) Name Rate (%) Below £11,850* N/A 0 £11,850** – £13,850 Starter 19 £13,851 – £24,000 Basic 20 £24,001 – £44,273 Intermediate 21 £44,274 – £150,000*** Higher 41 Above £150,000*** Top 46   *No tax is payable on income below[…]

Cloud Accounting

We are in a digital age.  For many people social media updates are replacing letter writing, groceries are delivered to our door at a click of a button and we keep up to date with the latest news via a tweet! The way we live our lives is more efficient, and resisting this change is[…]