Cloud Bookkeeping
Correct Balance LLP offers cloud bookkeeping to help you run your business faster, smarter, and more productively.
Cloud bookkeeping offers six key advantages that improve your cash flow and boost your productivity.
How to record CIS deductions in Xero? This is a short tutorial on how to correctly record CIS Deductions in Xero cloud accounting package. This method can be easily replicated to other accounting packages. What is CIS Deduction? CIS short for Construction Industry Scheme is a type of taxation introduced by HMRC to the construction […]
Bookkeeping Applications Almost everyone is familiar with different types of applications used on the phone, tablets and computers. With the advent of online accounting, numerous bookkeeping applications have been created to help improve accuracy and speed of processing receipts and bills. The most common applications helping in bookkeeping tasks are Receipt Bank, Entryless and Shoeboxed […]
Work may stop in retirement – for some people, at least – but your tax in retirement does not. If your income totals more than your personal allowance, you may still be liable to tax. Occupational pension benefits from an employer are generally paid with tax deducted at source, but other income – from private […]
The Government wants people to save and invest more for the future, so it offers generous tax incentives to encourage people to do so Several parts of the tax return deal with the income and profits you have earned on savings and investments – interest payments on bank and building society accounts, for example, and […]
EVERYONE MUST PAY TAX, BUT DON’T PAY MORE THAN NECESSARY – THERE ARE MANY WAYS TO REDUCE YOUR BILL, AND YOUR RETURN IS THE PLACE TO CLAIM LOTS OF THESE SAVINGS Arranging your finances in the most tax-efficient way possible will mean your total tax bill is as low as possible. There are all sorts […]
Putting mistakes right MISTAKES ON SELF-ASSESSMENT TAX RETURNS ARE RELATIVELY COMMON – THE KEY TO AVOIDING PENALTIES FOLLOWING SUCH ERRORS IS TO CORRECT THEM AS SOON AS YOU CAN If you make an error, miss something off your tax return or think you have paid the wrong amount of tax, you can sort it out. […]
How to complete the paper form AS MANY AS EIGHT IN 10 TAXPAYERS NOW FILE THEIR SELF-ASSESSMENT TAX RETURNS ONLINE, BUT IF YOU PREFER TO SUBMIT A PAPER FORM, YOU ARE ENTITLED TO DO SO The paper version of the self-assessment tax return is a six-page form, but many taxpayers are then also required to […]
Online tax returns: declaring your income and claiming reliefs. THIS IS THE MOST CRUCIAL PART OF YOUR TAX RETURN: THESE ARE THE PAGES WHERE YOU SUPPLY THE DETAILS NECESSARY TO WORK OUT WHETHER YOU OWE TAX – AND HOW MUCH In Section 4 of the online form, you’ll be asked to ‘fill in your return’. […]
Online tax returns: the first part of the form By working systematically through your online tax return, you will supply all the information required to discharge your responsibilities without having to complete unnecessary sections One of the most compelling reasons for completing your tax return online is that the document will automatically be tailored to […]