Category: Making Tax Digital

Egan Roberts joins national network of Handpicked Accountants

Posted on by Gabrielle

We are delighted to announce that we have been selected to join the UK’s most reputable firms on the Handpicked Accountants website.

As a leading accountancy firm in Ribchester, Lancashire, we have been recognised for our personalised customer service and specialist knowledge of the industry. Established in 1986, our team of chartered accountants and business advisors have developed our services over the years to embrace technology.

We specialise in delivering our services to start-ups, academies, medical professionals, manufacturing businesses and SMEs.

As a registered auditor, we also carry out audits for a number of businesses across the country.

Our services include bookkeeping, VAT returns, tax planning, tax returns, payroll and accounts management using cloud based software, Xero.

The team at Handpicked Accountants choose only the strongest performing accountancy firms to participate in their network. Handpicked Accountants features specialist firms which have been tested for reliability and knowledge, filtered down to location to make the online customer journey more efficient.

As a provider of Xero accounting software, we can ensure that you have 24/7 access to your accounts from any device. The shared dashboard will also mean that you will be able to view the same financial data as your accountant. Xero is compatible with Making Tax Digital so you are able to complete VAT returns and submit other financial documents directly to HMRC.

David Tattersall, Head of Client Relations at Handpicked Accountants, said: “After careful consideration, we are really excited to announce that Egan Roberts is now part of the Handpicked Accountants family. The team have years of experience dealing with small business owners, so you can be reassured that the Ribchester based business can be depended upon.
“We aim to simplify the process to source a local accountant which fits the bill in terms of trust, reliability and high service standards. The Handpicked Accountants website makes it easy to filter for accountants in your local vicinity, helping you take control of your financial affairs.”

Our profile can now be viewed on the Handpicked Accountants website.

If you would like more information about our services, an initial meeting and quotation free of charge with no obligation then call us on 01254 583515, email accounts@egan.co.uk or complete the form below.

Making Tax Digital for Vat

Posted on by r3df3rn

Making Tax Digital. You may have heard of this?

If you have not and you are a vat registered business then you need to find out about this as soon as possible. Contact us on andrew@egan.co.uk

 

As from April 2019 all vat registered businesses will need to be able to submit their vat returns direct to HMRC using an approved piece of software. You will no longer be able to submit your return via the HMRC online login as you may currently do.

We at Egan Roberts are speaking to all our clients at the moment to make them aware of the above and checking what plans they have in place to be able to comply with the new rules from next April. Those clients that have a PC based piece of software (sage accounts etc) will need to make sure that their software is up to date and will be compatible with submissions to HMRC from next April. We can do this check for you.

There are however many businesses that either keep their software on spreadsheets or still keep their records manually. These businesses need to act now to be ready for the change in April 2019.

What options are there?

There are several options:

  • Upgrade your current PC based software so that it is compatible with the new HMRC submission criteria
  • Obtain a piece of software that links your spreadsheet to the HMRC online portal
  • Move to a cloud computing piece of software (Xero, Quickbooks or Sage Business Cloud Accounting)
What we recommend

We are recommending that our clients move to the cloud, there are numerous advantages to this, not least being that we as your accountant can login to your live data anywhere and deal with any queries you have.

How easy is it to set up?

The set up of Xero as an example is very easy.

  • We can send you a trial invite which lasts for 30 days if you are happy with the software you can use the standard chart of accounts set up which can easily be amended to suit your business.
  • You enter your opening balances – preferably from your last year end accounts.
  • You can then set up bank feeds which allows your bank to send through the transactions direct into the software. This makes reconciling your bank very easy.
  • You can add your logo so that if you generate sales invoices your logo appears on them and these can easily be emailed to your customers.
  • You add your purchase invoices in to the system so that the payments can be matched against these.
    We can of course help with all of the above
How do I do my Vat Return

Once all the transactions have been entered for the quarter you can generate your vat return from within the software and check all the transactions to make sure it is correct. You can then publish the vat return and submit it from within the software using your HMRC login details. Again if you would like us to do this we are able to login to do this for you.

What do I do now?

Do something now do not delay any further!

Get in touch and we will give you the best options for your business and guide you so that you will be able to submit your vat returns correctly from April next year.

Making Tax Digital Compliant Software

Posted on by r3df3rn

HMRC have updated their list of software which is compliant with Making Tax Digital for VAT.   They are currently working with over 150 suppliers to provide compliant software before April 2019.

 

Suppliers include:

 

  • Xero
  • Iris
  • Sage (UK) Ltd
  • Intuit – Quickbooks
  • Clear Books plc

 

The full list is available here.

 

 

At Egan Roberts we are Xero Advisor Certified and so are fully equipped to provide you with help and guidance in using Xero whether it is for the first time or to help you get the most out of the software.

 

Not sure about Making Tax Digital?

 

Read our other blogs here to better understand Making Tax Digital and how it will affect you and your business.