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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.”
A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to ‘address long-standing concerns about the experience of smaller businesses’. The report considers the business lifecycle, especially those starting up and provides recommendations in five areas:
The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019. The process of gathering the necessary information and completing the forms can take some time, so it is important that this process is not left to the last minute.
Employees pay tax on benefits provided as shown on the P11D, generally via a PAYE coding notice adjustment or through the self assessment system. Some employers ‘payroll’ benefits and in this case the benefits do not need to be reported on forms P11D but employers should advise employees of the amount of benefits payrolled.
In addition, regardless of whether the benefits are being reported via P11D or payrolled the employer has to pay Class 1A National Insurance Contributions at 13.8% on the provision of most benefits. The calculation of this liability is detailed on the P11D(b) form. The deadline for payment of the Class 1A NIC is 19th July 2019 (or 22nd for cleared electronic payment).
HMRC has produced an expenses and benefits toolkit. The toolkit consists of a checklist which may be used by advisers or employers to check they are completing the forms correctly.
New company car advisory fuel rates have been published which take effect from 1 June 2019. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 June 2019 are:
|1400cc or less||12p|
|1401cc – 2000cc||15p|
|1400cc or less||8p|
|1401cc – 2000cc||9p|
|1600cc or less||10p|
|1601cc – 2000cc||12p|
HMRC guidance states that the rates only apply when you either:
You must not use these rates in any other circumstances.
The Advisory Electricity Rate for fully electric cars is 4 pence per mile. Electricity is not a fuel for car fuel benefit purposes.
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.