This means I have a complete overview of Xero Functionality
The maintenance of Xero certification requires 40 Xero credits annually, and involves the attendance of seminars and the completion of exams.
Ask me about your bookkeeping
Bookkeeping has seen marked improvements in recent years. When I began offering a bookkeeping service, years ago, every task involved an excel spreadsheet and a stand-alone accounting package. Nowadays every bookkeeping task can be completed within a single up-to-date, cloud-based accounting software option, such as Xero.
With packages like Xero, your financial and customer details can be accessed remotely by all authorised key people to whom you authorise user access; as you can access cloud-based software from any device with an Internet connection. The ability to submit information to the HMRC via the Government Gateway means that submitting your PAYE, VAT returns and other information is simply a ‘click’ away.
MTD & Xero – Choose the right technology
The upcoming ‘Making Tax Digital’ directive from HMRC will begin to take to effect by April 2019, initially moving VAT return submissions online. Paper submissions will no longer be accepted; it will become mandatory for almost all businesses to use software to keep accounting records. Paper accounting records will cease to meet the requirements of new tax laws.
Is your record-keeping system up to scratch?
If your annual turnover is above the VAT threshold, currently £85,000, you will be required to keep digital accounting records, and file your VAT returns using MTD-compliant software (like Xero) from April 2019.
From 2020, online income & corporation tax reporting is expected to become mandatory.
Get in Touch
For a friendly discussion about support with a more efficient and cost-effective bookkeeping solution, please feel free to contact us at Your Office. We’ll ensure that you meet the current and future requirements of HMRC.