The domestic reverse-charge is a major change to the way VAT is collected by HMRC in the building and construction industry reporting under the Construction Industry Scheme (CIS).

It was being introduced to combat VAT fraud in the sector and the initial roll-out on 1^st October 2019 was delayed due to a combination of the sector being ill-prepared for the change and Brexit. The date was moved forward 12-months to 1^st October 2020 but due to COVID-19 the start date has been further advanced to 1^st March 2021.

At Taxfile, we will start contacting our VAT clients working under the CIS, in preparation for the 1^st March 2021 start date.

If you would like to know how to prepare your business for this, you will need to:

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The post A Great Choice of Cloud-based Accounts Software Packages appeared first on Taxfile.

• Firstly we'll GIVE* Taxfile customers the package — you don't have to pay Sage at all;
• Say hello to quick and easy bookkeeping and record-keeping;
• Quick and easy cash flow management tools;
• Cloud-based record keeping means you can access accounts records from anywhere with an internet connection;
• Automatic bank statement integration makes bank reconciliation a breeze, helping when receipts go missing and even recognising - and accounting for - regular transactions;
• A mobile app module allows you to simply snap a photo of your receipt and it uploads to your Sage account (say goodbye to physical receipt storage!);
• Less paperwork!
• Automatic tax computations performed by the software;
• Report and analysis options;
• VAT handling;
• Automatic VAT return options (or let us handle it for you as you prefer);
• Shows you the taxes and National Insurance due so you can easily pay them on time;
• Fast and easier tax returns;
• Help from Taxfile at any point and from Sage's own helpful videos;
• Helps you stay in line with UK laws, taxes and regulations;
• No experience needed;
• Perfect for the self-employed, start-ups and small businesses;
• Taxfile will even be happy to set you up;
• Integrated invoicing and quotation options available (even from your mobile phone!);
• A quick and easy payroll bolt-on is also available for limited companies, with payslips, RTI, Auto Enrolment integration etc.;
• Auto enrolment communications included if you have a company pension scheme;
• Option to automatically integrate online e-commerce records into your Sage account;
• Fast and easier company accounts preparation;
• ... and much more!

But there is more major benefit - collaboration with us, your accountant!

The Sage packages we supply are not only free, or in effect heavily subsidised depending on the package involved, but also allow us, your accountant and tax adviser, to collaborate with you within your Sage package with your permission. So where you cannot do something yourself, we can log in using our own integrated Sage administration system to get involved on your behalf, for example to set things up for you, run reports, activate VAT returns, tax returns, end of year accounts, payroll and so on. It's amazing really! So you do as much or as little as you want to ... and we cover everything else!

You save money!

Using the easy but powerful Sage bookkeeping and accounting packages supplied by Taxfile
means that you'll save money. It's as simple as that. Customers using such packages makes our job easier, reducing our chargeable hours working on your accounts, so quite simply saves you money!

You also save time!

Our Sage packages will save you SO much time you'll never look back! Once you've tried our Sage packages for a while you'll

The post AMAZING OFFER! Save Time, Money & Space with a FREE Sage Bookkeeping & Accounts Package!* appeared first on Taxfile.

Features & Benefits of Sage One Cashbook online include:

• It allows you to record income & expenditure for your business quickly and easily;
• Access your records from anywhere with an internet connection, any time;
• No accountancy experience is necessary – it's simple;
• Perfect for small businesses, sole traders, etc;
• It allows you to
  

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  ]]> https://www.taxfile.co.uk/2013/09/bank-base-rate-to-stay-at-0-5-until-2016/ Thu, 05 Sep 2013 10:05:10 +0000 http://www.taxfile.co.uk/blog/?p=536 Mark Carney, the Bank Of England’s new Governor, has announced his ‘forward guidance’ that the Bank does not intend to raise Bank Rate from 0.5% until the unemployment rate falls to 7%, which it forecasts will happen in mid 2016 — three years away. The Governor hopes that the announcement of this 3 year plan […]

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  ]]> https://www.taxfile.co.uk/2008/09/vat-accounting-schemes/ Sat, 06 Sep 2008 08:57:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/?p=10 Using Standard VAT Accounting, we must complete four VAT returns each year. Any VAT due is payable quarterly, and any VAT refunds due are also repayable quarterly. In contrast to standard VAT accounting, there are several alternative ways we can account for VAT that could save us time and money. Each of the schemes has […]

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