Do I need to declare PAYE on my Self Assessment?

Assuming there is retained profit after tax in the business, Directors can vote dividends whenever they like…

Capital Gains Tax on property must be reported and paid to HMRC within 60 days of the date of completion of the sale.

Government Gateway is a portal through which you can access HMRC services…

Wages on Xero should be reconciled to ‘Wages Payable’.

The 31st July 2023 deadline for topping up NI contributions for State Pension explained.

The following guidance applies to VAT Returns that start on or after 1st Jan 2023.

Under Cash VAT, the calculation is done on the basis of the date when Invoices and Bills were paid.

No. Expenditure incurred in running a business is tax deductible.

How to reconcile refunds on Xero

There are two ways to close a company, insolvency and striking off.

How to calculate vehicle cost claims.

Xero itself does not provide functionality to make payments from the platform. However a number of Add-ons are providing that

Yes. A company can conduct any number of businesses under one company.

The company car costs tha t are allowable for a Ltd Co.

HMRC expect anyone who is trading (selling goods or services) to register as Self Employed.

Duplicate records can appear when there are two records of the same transaction.

Most expenditure in a business is included in the calculation of profit (income - expenditure) that is used to calculate business income tax.

Every 90 days you will be asked to renew your bank connection from within your accounting software, this will allow data to continue to flow through.

When a tax code changes it is usually because HMRC has become aware of some other income, whether that is a dividend or a second employment or trading.