[Updated]: It’s common knowledge that most of Taxfile’s South London staff are multi-lingual but can you guess which staff member speaks no less than four languages fluently (Russian, Pashto, Dari and English) and which staff member is into both metal music and Irish dancing? And who should you ask for if you need payroll services? And who specialises in bookkeeping … who in limited company accounts and so on? Our staff ‘mind map’ tells you a bit more about each member of the team, what their specialities are, key interests and, of course, their contact details in case you ever need their help. Take a look … Read more
Hot off the press is our brand new Autumn newsletter for 2016. If you haven’t yet seen it, take a look because it’s jam-packed full of useful information that’ll help you keep your tax affairs and accounts in order, save you money and keep you up to speed on tax matters. Here’s a quick flavour of what’s included (or click the thumbnail image to view or download the newsletter):
- Act fast to save money on your 2015-16 tax return – see the newsletter’s first article.
- Sub-contractors working in the construction industry are invited to claim their CIS tax refunds through Taxfile, so they have their refund in time for Christmas!
- Help if you’re late with any previous years’ tax returns and tax payments — and how you already owe HMRC at least £1300 if you haven’t filed your 2014/15 tax return or paid tax for that year.
- Try the UK’s Number 1 cloud-based accounts package FREE, for a month. No credit card required – cancel at any time – full details are included in the newsletter. [UPDATE: Please note that this offer has now expired].
- Help if your tax affairs are in a mess — are you late filing returns or paying tax? Are you worried about HMRC penalties? Are you a foreign worker, working in the UK, and need to get your tax records up to date following the Brexit decision? We’re here to help!
- Taxfile are Finalists in the ‘Independent Firm of the Year, Greater London’ category of the British Accountancy Awards 2016.
- Free tax enquiry Fee Protection Insurance for Taxfile customers who file their tax returns by the statutory deadline through Taxfile.
- How online banking may save you time and money.
- Introduce a new client to Taxfile and save 10% on our fees!
- Saturday opening at Taxfile (Tulse Hill office) throughout November and December.
- Help with all your tax and accounting needs – check out our list of all the things we can help you with — now including auto enrolment!
- And a ‘thank you’ to all Taxfile customers … Read more
Taxfile are delighted to confirm that they’ve been nominated as Finalists in the sixth annual British Accountancy Awards taking place in November 2016. With a real chance of winning the Independent Firm of the Year, Greater London category, all the staff at Taxfile should take this as a pat on the back for their expertise and diligence looking after the tax affairs of clients in the Greater London region. “It’s a great honour!” said Guy Bridger, Taxfile’s Managing Director, who wanted to draw attention to the particularly hard work of Julie, Faiz, Ewelina and Ali on the Taxfile team. The awards ceremony takes place at The Brewery, London EC1, on 29 November.
Taxfile can add this to their already impressive list of previous accolades which include being a Finalist in the Award for Innovation and winner of the Best Small Business award. Our congratulations to all staff and best wishes to all accountancy companies taking part — it should be a night to remember!
Taxfile are accountants and tax advisors with London offices in both Tulse Hill and Dulwich in SE21. We can help with anything from simple bookkeeping, payroll, tax returns, tax refunds, VAT, National Insurance and Corporation Tax to full accounts work for limited companies, help with auto enrolment duties as well as sorting out complex tax problems. Read more
Sign Up & Your Favourite Charity Gets £25 Too!
[UPDATE: Please note that this offer has now expired]. If you are a limited company client that signs up to a new cloud accounting software subscription from Taxfile, we’ll donate £25 to your favourite charity. So, as well as saving yourself time and making your life easier, you’ll get a warm glow from making the world that little bit better! The accounting software packages that we currently offer and recommend are FreeAgent, Xero and Sage One, which are all leading accounts packages.
With any of the 3 cloud-based packages you’ll be able to:
- Create and send invoices from within the software;
- Automatically chase payments;
- View real time cash-flow;
- Track time and expenses;
- Monitor Profit and loss;
- Forecast your tax liability;
- Connect and automatically import your bank statement data straight into the software;
- And much more!
Best of all, though, will be the time-saving benefits that you’ll get from professional accounting packages like these. With the software working hard for you in the background, you’ll have more time to get on with something else.
Contact Ryan, our resident accounts package specialist, for advice on which package will best suit you and your specific circumstances. He’ll be able to walk you through the details of the many features and benefits of each package as well as any further information you require. Ryan can be contacted on the usual Taxfile number: 0208 761 8000 or, if preferred, fill in an enquiry form here and Ryan will call you back at a time that suits you.
[UPDATE: Please note that this offer has now expired]. Taxfile’s customers can benefit from an incredible offer on a range of Sage accounting packages at the moment. We’re offering a FREE or, in effect, heavily subsidised* Sage accounting package to all active Taxfile customers, whether existing or new. There are various different packages available so we’re sure we’ll have one which will suit every customer perfectly. The list of benefits is almost endless — here are just a few:
- 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 Read more
Check out Taxfile’s latest e-newsletter to find out our latest tax news and easy ways you can save money — but only if you act fast.
Taxfile’s friendly staff are always available to help on all matters regarding tax and if you come in before 21st December we’ll give you a discount – check out the e-newsletter for full details and other ways to save even more. Up to date bulletins can also be found here on our tax blog.
If you’d like to save money on your self-assessment or tax refund, including CIS refunds for sub-contractors, call into Taxfile’s Tulse Hill Branch in SE21, or telephone 020 8761 8000. You can also contact Taxfile online here or book a free introductory appointment with a tax advisor here.
If you’d like to be included in our future e-newsletter mail-outs, please click here. We only send a few each year and you can unsubscribe at any time with a simple mouse-click. Your details will, of course, not be passed on to anyone else — they are only used to send out our own newsletters and tax news.
A warning and reminder to landlords: the Chancellor’s Summer budget back in July will hit buy-to-let investors’ profits once the changes kick in, so now is the time to start planning ahead. Not all landlords will be affected though; if their rental property is mortgage free or if they sell within the next 2 years these changes won’t affect them. However those landlords that are Higher and Additional taxpayers will notice their tax relief reduce by 2020. Also, investors near the tax threshold could find themselves in the next tax bracket, which could have a knock-on effect and increase their tax exposure.
So what are the proposed tax changes?
There are basically two:
- Firstly, the amount of tax relief landlords can claim on their mortgage interest will now be capped at basic rate and;
- Secondly, landlords will no longer be able to subtract their mortgage interest from their rental income before they calculate their taxable profit.
One in five landlords are expected to have to pay more tax because of these changes, however the new rules will not be phased in until between 2017 and 2021 according to the latest information.
What steps can landlords take?
There are several steps that investors can take to conserve as much profit as possible and to limit the amount of any extra tax payable. For example: Read more
[UPDATE: Please note that this offer has now expired]. Get Sage One Cashbook FREE, only with Taxfile. If you are a Taxfile customer you can currently get this excellent online accounting and cashflow package totally free of charge. This is better than any special offer you’ll find online for the same product and an additional benefit is that it allows us, your accountants and tax advisors, to collaborate with you within the package (with your permission of course), making managing your income, expenditure, tax accounting and bookkeeping absolute child’s play. You can stop at any time; it’ll cost you nothing either way.
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 Read more
[UPDATED] Did you know that you get an automatic £100 minimum penalty if you file your Self Assessment tax return (or pay any tax owed) even one day late? After 3 months you can add £10 per day extra to that fine (up to 90 days/£900 max) and after 6 months it gets significantly worse. And remember that you need to file your return on time even if you don’t owe any tax, or if you have already paid it! Latest indications are that there are also no warnings given by HMRC. See the table below for the detail.
So our message is simple: don’t file late, and don’t pay late! Taxfile are here to help you, of course. We know Self Assessment Tax Returns back to front and we can help you file accurately, and on time.
Key Dates for the tax year to 5 April 2015:
Download our jam-packed Autumn Newsletter right here for up-to-the-minute news, ways to save money, tips, new developments and tax information from Taxfile. Includes important news regarding tax return deadlines, refunds for C.I.S. sub-contractors working in the construction industry, key dates, ways to save money, HMRC tax news for landlords, imminent price changes plus an interesting mind map showing information about our lovely multi-lingual staff! Download the newsletter here (Acrobat PDF format – right-click to save the PDF to your hard drive then open it in Acrobat Reader or alternatively left-click the link to view the newsletter directly in most browsers).