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Client Stories

Kontor Space

James Townsend MRICS

“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.”

Baba-Boom

Eve Bugler

“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.”

Ameliant Ltd

Jakub Korab

“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.”

Temple Employment Law

Sophie Clifford

“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.”

Peak Games

Itamar Lesuisse and Sagi Shorrer

“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.”

Autumn Budget 2018

Introduction

The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that ‘austerity is coming to an end – but discipline will remain’. He also promised a ‘double deal dividend’ if the Brexit negotiations are successful but stated that there may be a full-scale Spring Budget in 2019 if not.

Our summary focuses on the tax measures which may affect you, your family and your business. To help you decipher what was said we have included our own comments. If you have any questions please contact us for advice.

MAIN BUDGET TAX PROPOSALS

Our summary concentrates on the tax measures which include:

  • increases to the personal allowance and basic rate band
  • extending off-payroll working to medium/large organisations in the private sector
  • a temporary increase to the Annual Investment Allowance
  • freezing the VAT registration threshold for a further two years
  • changes to Entrepreneurs’ Relief and private residence relief
  • measures to tackle the plastic problem.

Previously announced measures include:

  • increases in car benefits
  • plans for Making Tax Digital for Business
  • extending the charge to gains on non-UK residents of non-residential UK property.

Some Budget proposals may be subject to amendment in the 2019 Spring Statement and subsequent Finance Act. You should contact us before taking any action as a result of the contents of this summary.

Internet link: GOV.UK  Budget 2018

Making Tax Digital for VAT

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 digital records businesses must keep and the ways to record transactions digitally in certain special circumstances

  • what counts as ‘functional compatible software’, and when software programs do and do not need to be digitally linked where a combination of programs is used.

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 contact@alexanderrosse.co.uk

Internet link: GOV.UK MTD

One million couples still eligible for tax boost

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

Xero Cloud Accounting Software
Simple. Smart. Secure

Small business accounting software that’s beautifully simple Xero is the beautiful alternative to your old accounting software, providing a real-time view of cash flow – anytime, anywhere. It’s small business accounting software that’s simple, smart and occasionally magical.

 

Explore features like invoicing, payroll, reporting and more. Xero small business accounting software has all you need to manage your numbers effortlessly.

Features

  • Real-time view of your business finances at a glance
  • Import bank statements for up-to-date reconciliations and transaction matching at the click of a button
  • Manage your business contacts and have them automatically appear in invoices and transactions
  • Access your accounts from anywhere in the world through your PC, Mac, laptops and other mobile devices
  • Rapidly create, send, receive and report on invoices
  • Quickly and easily manage your debts, payments and due dates
  • Easily enter expenses and generate real-time reports
  • Share your information with your chosen financial advisors.