George Osborne announced in his Autumn statement the plan for self employed and small businesses to have to file four tax returns a year, rather than one as currently is required.
When you’re starting out in business, it can be tempting to run all of your finances through your personal bank account, rather than going through the hassle of setting up a separate account for your business.
The FreeAgent Tax Timeline displays a live projection of how much money you owe to HMRC and when you owe it, so you’ll know how much to set aside for tax bills. You can export the details of your tax deadlines into your Google, Outlook or iCal calendar by following these steps.
In FreeAgent you now have the ability to dispose of capital assets.
Previously you could record the purchases of capital assets but there was no way to explain if you’d sold an asset.
You can now explain transactions as disposal of capital assets, which will prevent further depreciation, ledger the balancing charge and get all the accounts right.
HMRC have recently changed the way tax is handled for businesses supplying digital services to consumers in the EU.
From January 1st 2015, VAT on digital services is paid in the consumer’s country, not the supplier’s country, and is charged at the rate that applies in the consumer’s country.
In another addition to FreeAgent’s integrated accounting and payroll platform you can now automatically generate the P45 forms required when an employee leaves your business.
Since releasing their iOS app a few weeks ago, FreeAgent have been working to make FreeAgent Mobile even better.
Find out whether you would you benefit from the VAT Flat Rate Scheme using FreeAgent’s useful online calculator.
FreeAgent has just released two major new features for their GoCardless integration, making it easier than ever to set up regular online payments with your customers.
A guide to paying your Self Assessment Tax bill on GOV.UK.
Discover the effects of the key announcements made by the Chancellor during his Summer Budget in July 2015 related to mortgage interest relief for landlords of buy-to-let properties in our handy 6 page PDF guide.
FreeAgent has improved their calculation of accounting periods for corporation tax to make corporation tax projections more accurate.