Tax blog for accountants

News and views from our experts.


Reaction to Making Tax Digital Consultation

written by Editor, 23 August 2016

Guest blog by, Mark Purdue – Tax Product Manager, Thomson Reuters

Making Tax Digital

Just two weeks (2 August 2016) before the long-awaited release of the Making Tax Digital (MTD) consultation documents (15 August 2016) we polled more than 350 accountants. Unsurprisingly, 91% feel there isn’t enough information available on MTD, and this lack of information has caused much uncertainly, speculation and concern. more »


The Making Tax Digital Blog Series Part 3: Are Compliance Services Still Important To Businesses?

written by Editor, 28 July 2016

Guest blog by, Mark Purdue, Product Manager – Tax, Thomson Reuters

Making Tax Digital

Every business needs to get the basics right to stay aware of and meet statutory obligations, and ensure that the correct level of tax is paid. However, it hardly sets the pulse racing. The discipline around financial administration, however, creates value in terms of knowing where you are and being able to react to both challenges and opportunities. more »


The Making Tax Digital Blog Series Part 2: Why Efficient Collection Of Data Needs To Match Efficient Client Management

written by Editor, 21 July 2016

Guest blog by, Mark Purdue, Product Manager – Tax, Thomson Reuters

Making Tax Digital

The Making Tax Digital initiative now seems to be almost inevitable. The drive for better data received in a more timely way is seen as a cornerstone of how the government seeks to create and modernise aspects of its relationship with taxpayers. more »


The Making Tax Digital Blog Series – Part 1: What Will Digital Tax Accounts Mean to You and Your Client Relationships?

written by Editor, 14 July 2016

Guest blog by, Mark Purdue, Product Manager – Tax, Thomson Reuters
Making Tax Digital

The Making Tax Digital initiative now seems to be almost inevitable. The drive for better data received in a more timely way is seen as a cornerstone of how the government seeks to create and modernise aspects of its relationship with taxpayers.

more »


Using Query Manager in Personal Tax to report on client information

written by Digita Support, 13 May 2016

By Chris Cullen, Tax Support Specialist.

Introduction

Whether it’s for tax planning purposes or internal housekeeping it’s always useful to be able to report on clients meeting specific criteria (over a certain age, specific income types or thresholds, etc.); this can be done in Personal Tax using the Query Manager.
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Marriage Allowance benefit

written by Digita Support, 5 April 2016

By Gemma Pettit, Tax Support Specialist.

Transfer of Personal Allowance

When the government introduced the Marriage Allowance on 6 April 2015, they estimated that four million people would be eligible to claim it. However, as of February 2016, figures released suggested that only 8% of eligible couples had applied to transfer 10% of their Personal Allowance to their Spouse or Civil Partner.
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Foreign Dividends and Interest – SA100 or SA106

written by Digita Support, 8 March 2016

by Simon Doughty, Tax Support Specialist.

It has been possible to report foreign dividends of under £300 and gross foreign interest of under £2,000 on the SA100 since 2008/09 when the online filing of SA100 became mandatory. However, on support, we still receive a lot of queries on this topic.

Those of you in practice long enough will probably remember the various windfalls from Building Societies in the late 80’s / early 90’s. Abbey National being one of the main ones where, through various reorganisations, individuals now receive foreign dividends from Santander.

There is no facility to complete SA106 foreign pages using HMRC’s own software.
more »


Find the help you need to manage the burden of tax preparation!

written by Editor, 1 December 2015

Guest blog by, Amanda Magri-Overend, Digita Marketing Executive

Tax Preparation

Tax season can be especially challenging. Many accounting departments are overloaded with work and need help to manage the burden of tax preparation. To cope with the busy period accounting firms need to ramp up their staffing strategy.

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The 2015 Budget: Last one out, please turn off the lights…

written by Editor, 20 March 2015

Blog by Mark Purdue, Senior Product Owner – Digita Tax Software
Budget

On Wednesday, the Chancellor gave his last Budget before the General Election in May. Whilst perhaps a little light on real content, the key headline for those in the accountancy profession was the scrapping of the tax return.

What does this mean to the practitioners? Is the profession as we know it, for tax compliance at least, dead?

more »


Business Continuity Planning: Are You Ready for Disaster?

written by Editor, 30 September 2014

Business Continuity
It could be as simple as a power cut or as serious as the severe flooding this year that created miles of record breaking devastation across the UK. Regardless of the cause, any interruption to your operation is bad for business.

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