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“Alexander Rosse have been instrumental in navigating us through the day to day accounting jungle, not only helping us set up the business but ensuring our systems and processes are fit for purpose and scalable going forward. Implementing modern accounting practices and technology coupled with excellent day to day service – we very much view them as an in-house function and would highly recommend them to others.”
“The detailed management accounts that Alexander Rosse produce for us each period in Xero are the backbone of our business. The insight we gain from the accounts drives our operational decisions, our investor confidence and our cashflow management. The AR team fully understand the food industry and our needs (e.g 4 weekly accounting, multi-site operations, supplier invoicing challenges) and such they are my first recommendation for other fast growing restaurant & hospitality companies.”
“I have worked with Alexander Rosse for years because they simply make all of my accounting problems go away. They have made sure that everything is done correctly and on time, and have been on-call to step in whenever unexpected issues came up, leaving me to concentrate on my business. Highly recommended.”
“Alexander Rosse have been great. I feel I can ask them any question – no matter how silly. They have been so supportive of my business and its growing needs, adapting the service along the way.”
“Alexander Rosse is a great partner that provides the flexibility and services needed to grow from an early stage start up to a successful scale up company.”
The government has published draft legislation for Finance Bill 2018-19 which is currently open for consultation, and ‘continues the government’s commitment to a competitive and fair tax system’.
The draft legislation could affect a range of taxes, from Stamp Duty Land Tax (SDLT) to income tax.
The draft legislation also outlines the government’s approach to the Making Tax Digital (MTD) penalty system, with HMRC outlining its intention to utilise a two-tier penalty model for businesses and individuals who fail to pay their tax on time.
The July publication of the Finance Bill 2018-19 draft legislation forms part of the government’s new fiscal timetable.
The consultation on the draft legislation will run until 31 August 2018. The final contents of ‘Finance Bill 2018-19’ will be subject to confirmation at Budget 2018, expected later this year in November.
We will keep you informed of developments.
Internet link: GOV.UK finance bill 2018-19
HMRC has published further information on Making Tax Digital for VAT (MTDfV). The VAT notice sets out some further details of the MTDfV regime, which will ultimately require taxpayers to move to a fully digital tax system.
Under the rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) will be required to keep digital records for VAT purposes using ‘functional compatible software’ and provide their VAT return information to HMRC via an application programming interface.
This notice explains:
The new rules have effect from 1 April 2019, where a taxpayer has a ‘prescribed accounting period’ which begins on that date, and otherwise from the first day of a taxpayer’s first prescribed accounting period beginning after 1 April 2019.
Please contact us for advice and support on the introduction of MTDfV at firstname.lastname@example.org
Internet link: GOV.UK MTD
HMRC has highlighted that three million UK couples have already taken advantage of Marriage Allowance but a million more are still eligible for the tax break.
The Marriage Allowance allows certain couples, where neither pay tax at more than the basic rate, to transfer 10% of their unused personal allowance to their spouse or civil partner, reducing their tax bill by up to £238 a year in 2018/19. The allowance was introduced in 2015 and it is possible to backdate the claim to earlier tax years.
Please contact us if you would like to know more about this allowance and whether you are eligible.
Internet link: GOV.UK news
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