April 20th, 2015

The End of the Tax Return – What it means for your business

The news in the Budget that annual tax return will be a thing of the past sounds like good news for lots of small businesses. The launch of HMRC’s ‘Making Tax Easier’ document is certainly an ambitious project.

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We think it’ll be replaced by a monthly return – probably generated directly by your accounting software and sent straight to HMRC.

It’s certainly the approach that Xero are expecting to happen as they announced their plans for the future at the Roadshow we attended this month.

Many small businesses will need to make some big improvements to their accounting systems to keep pace with the new requirements but we think it’ll be worthwhile. Having good, reliable and up to date records helps you to run your business better.

If you’re contemplating making the change to Xero then we’d be delighted to give you a free demonstration. Just complete our Xero diagnostic and we’ll get in touch.

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John manages a wide portfolio of owner managed businesses and oversees the smooth operation of the firm’s payroll department.

After obtaining his degree in mathematics from the University of Liverpool, John joined Jonathan Ford & Co in 2004 and qualified as a chartered accountant four years later. John likes to keep abreast of developments in tax and accounting and is responsible for the mentoring of junior staff.

Outside of work, John enjoys powerlifting and is a Liverpool FC season ticket holder.

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