Blog

Xero Advisor Certified at Brothertons

Here at brotherton we use the latest technologies within our accountscom platform which is our solution for cloud and digital accounting.

We use all the leading technologies including…..

KASHFLOW

XERO

SAGE

and OTHERS.

Here at brothertons we are a certified XERO ADVISOR

If you would like to explore the new technologies available, we can offer you a free presentation of the software with absolutely no obligation. Free 2 week trials of the software are available too, if you would like to have a play with it and look at its benefits for you and your business.

We also offer free training once you come on board including visits and virtual training. Have a look at the videos on the website as these show the usability of the software and we are adding to these all the time.

Please call the office if you would like a free no obligation presentation of the software……evening appointments are available every week. TEL 01527 68235

Recording Business Mileage on Kashflow

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Managing stock levels on Kashflow

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Raising Quotes on kashflow and quick conversion to sales invoices

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Adding banks on Kashflow and transferring money.

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Debtors Control on Kashflow

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Seeing all Nominal Codes on Kashflow

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Bank transactions and basic bank reconciliations on kashflow

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Cloud accounting at Brothertons and free evening meetings

There is a real buzz here at Brotherton’s with the huge developments in digital software and new technologies.

We have made great strides with our digital platform accountcom, here at Brothertons. This is our platform for helping clients move into the digital age with their accounting and business processes.

After our initial open day we are now planning further dates for clients and non clients to come and visit us here so we can show them the great solutions we are offering through accountscom, using technologies from kashflow, Xero, SAGE and others.

Our catalogue of videos is now growing on our website, from short basic tutorials to more in depth webinars.

We hope all this will be of benefit to you and we are striving to help businesses embrace the technologies and provide all the resources to help move businesses forward.

If you are an existing business or newly incorporated we would love to hear from you and our evening meetings are available every week. We will call out to you too, if that makes it easy for you. These evening meetings are obviously totally free and we are happy to come and chat over your business, looking at all areas from tax planning to new technologies and how it can help you and your business.

Our number is 01527 68235 if you would like to arrange an evening meeting.

VAT on kashflow – Basics Tutorial

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Overview of kashflow accounting software – Basics – Tutorial

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Basics of a Directors Loan Account-Tutorial

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Brotherton and our digital platform- accountscom.

This week has been a busy one with Accountex at the forefront of the accounting world.

We are moving forward with the digital software options to all our clients using our accountscom platform and working with kashflow, Xero, SAGE and other software providers to provide the major benefits to all our client.

We have seen three newly incorporated clients join us here at Brothertons this week and all were looking for help with not just tax and business issues but compliance with HMRC and Companies House. We have helped with digital accounting, new technology software and free training in all these areas and this will be ongoing now as we move forward.

We hope we will be able to help you, if you are an existing business or just starting out, with all the issues that are necessary to be explored and solutions found when moving forward with your business……

Please call the office for a chat or to arrange a meeting……we are happy to call out to you and we are available for evening appointments too. 01527 68235

Creating Email Templates on kashflow

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Introduction to kashflow software and personalising a sales invoice

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Making Tax Digital Solutions.

We are working hard here at Brothertons to ensure all clients benefit from the digital environment we are moving into.

We will be working with all clients old and new to ensure they are not only compliant with changes in legislation but also benefit from the massive benefits that the new technologies can deliver.

Please call the office for any updates but be assured we are working hard on all aspects and if we haven’t spoken to you yet with regards the digital environment we will shortly.

We are using all leading software packages for our clients and our platform for the digital age is accountscom. We will be offering all clients help with new technologies and training will also be given so you can maximise the benefits of the digital changes. Sotware Pakages here include kashflow, SAGE, Xero and others.

We are off to Accountex in London this week to add to our offerings within the new digital world of accounting and will keep everyone informed on developments as we go along.

Making Tax Digital at Brothertons

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VAT-Low Cost Traders

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Help with 17-18 tax returns

We are letting people know it still isn’t too late to come to us for help with their tax return for 16-17. (due date 31.01.18)

If you are struggling with getting this done and need some help we are happy to talk to you and take away the burden of struggling to get it all done on time. Please call the office on 01527 68235 and we will be happy to discuss your situation.

Restriction on interest relief for Buy to Let Investors

RESTRICTION ON INTEREST RELIEF for Buy to Let Investors is something we are taking very seriously at Brothertons. Even though the changes are being introduced over a 4 year period (2017-18 to 2020-21) so effectively over the next 5 years we are advising clients to consider this straight away and look at their situation in detail to ensure they are set up in the most appropriate way. Read more

Dividend Tax Allowance

From 16-17 new rules have been introduced which will affect the way dividends are taxed on individuals.

The tax credit which is currently associated with a net dividend is being abolished so there will be no more grossing up of a net dividend. A dividend tax allowance is being introduced which will make the first £5000.00 of dividend income tax free, no matter what level of income a person has. Any further dividend received in the tax year will be taxed at 7.5% 32.5% or 38.1% depending on if the income is in the basic, higher or additional rate band.Dividends within your allowance will still count towards your basic or higher rate bands and may therefore affect the rate of tax you pay on dividends you receive in excess of the £5000.00 allowance.

This will impact on many people and we are happy to discuss you situation on a one to one basis to ensure you remain as tax efficient as possible within the new rules.

Updates to Computer Systems

This week we have made some major updates to our computer systems. Lucid Computer Solutions Ltd, our computer and IT support guys, based in Redditch, have again done a great job and everything has been implemented smoothly and efficiently as we have always come to expect, over the 9 years they have provided us with IT support.

Saturday session on Auto-enrolment for Pensions

Our Saturday ‘Auto-Enrolment meetings’ have proved very popular and we have managed to talk to a great number of business owners and address their concerns and answer their questions on AUTO-ENROLMENT.

Moving forward we are extending the Saturday opening times of 11am-4pm throughout the whole of August, so please call the office if you would like to call in and have your Auto-Enrolment questions answered.

Tax on jointly owned property income

We had discussions this week relating to property held jointly between spouses and there are specific rules that should be considered if the asset is income bearing. If spouses or civil partners own property jointly, are married and live together, care should be taken. From an income tax perspective the individuals are treated as beneficially entitled to the income in equal shares. This means for example, if a property is owned jointly, even in differing ownership splits, not 50%-50% the income arising from this property would be deemed to be split 50%-50%. Read more

New Dividend Tax Credit

This week we have been talking to clients about the impact the budget may have on them moving forward. Key areas of discussion have been the the New DIVIDEND TAX CREDIT and the way dividends will be taxed moving forward after 1st April 2016.

This new policy for taxing dividends will mean the current tax credit on a dividend is abolished with the first £5000.00 worth of dividends in a year not incurring any tax. After this level the rates will depend on your level of income in the year and any dividends dropping into the basic rate band will be taxed at 7.5%, dividends dropping into the higher rate band will be taxed at 32.50% and for dividends dropping into the additional rate band the rate will be 38.1%.

Annual Investment Allowance (AIA)

We have been eagerly awaiting the announcement of the ANNUAL INVESTMENT ALLOWANCE (AIA) and the new level has now been set at £200,000.00 from 1st January 2016.

The current level is £500,000.00. There are transitional rules for anyone claiming AIA in a year that straddles these rates and anyone looking at investing in capital assets should take some advice to ensure the timing of the purchase is advantageous with regards the AIA claimable.

Tax relief on mortgage interest

Previous weeks we have talked about the increase in interest of BUY to LET investments. The new budget has potentially impacted on BUY to LET investors. Currently the amount of tax relief on mortgage interest an investor can claim is based on their marginal rate of tax, so if they are a higher rate tax payer, paying tax at 40% with some property profits, the reduction in taxable property income due to the ‘buy to let’ mortgage interest would have effectively given them tax relief at the 40%. Read more

Budget – Key Announcements

This week we saw the first conservative led budget for almost 20 years. There are plenty of changes which we will be looking at over the forthcoming weeks and advising our clients accordingly. I have listed below some of the key announcements by George Osborne and will be looking at the detail, moving forward. Read more

Mortgage Brokers for Buy to Let

A couple of weeks ago we talked about the up-surge in individuals considering ‘BUY to LET’ Investments.

We have had detailed meetings this week with a number of mortgage brokers to assess the market place for potential borrowings. There are many things to consider when entering this market or just considering a second property to let out.

We are happy to sit with anyone who would like to explore the potential to getting into this market and answer any questions they have from a business, tax or accounting perspective and we are also happy to provide you with details of trusted mortgage brokers who will be able to assist in any borrowing requirements you may have.

Should I be trading as a Limited Company?

This week we have set up another couple of Limited Companies for our clients using our In-House Incorporation Service.

Trading as a sole-trader can be simple and straightforward. However, it isn’t necessarily the best format for a trading vehicle. It really does depend on many issues whether a company is a better option for trading a business, but sticking with the same format of trading vehicle because that is how it has always been done is not an approach we would recommend.

We help businesses look at their circumstances in a ‘case by case’ basis and ensure there is a bespoke solution to each trading scenario.

Please call with any questions you have if you have ever thought…’Should I be trading as a Limited Company?’