24/03/2025
Alliance Bookkeeping Website Launch
With new services to offer our Clients, it was the perfect opportunity to update the website and refresh our Facebook page. The focus of the website is to make things as simple as possible for our Clients.
No fancy jargon and none of the generic images of Bookkeepers and Accountants at work. Our aim is to ensure that Financial Clarity is available to all who want it, without confusing terminology and showing people how we work as a company, by trying to simplify the process or at least letting Clients know what to expect when they work with Alliance Bookkeeping.
If it works, tell us, but more importantly if it doesn't let us know what we can do to improve your experience.
23/03/2025
HMRC Envelopes dropping though doors in April
HMRC confirmed From April 2025, they will be writing to customers whose 2023 to 2024 Self Assessment tax return shows their income from these sources was close to, or over, £50,000. This letter will let them know that they may need to use Making Tax Digital for Income Tax.
Making Tax Digital for Income Tax is a new way of reporting income and expenses if you’re a sole trader or landlord.
Under the new way of reporting, sole traders and landlords will need to use compatible software that enables them to:
- create and store digital records of their business income and expenses
- send quarterly updates to HMRC
- submit a tax return and pay tax due by 31 January the following year
07/01/2025
Making Tax Digital for Income Tax Self Assessment
Making Tax Digital for Income Tax Self Assessment (MTDfITSA)
Not exactly a catchy title, perhaps we should rename it?
Making Digital Bookkeeping Mandatory (MBDM) as that is essentially it?
Not as confusing now is it?
Making Tax Digital for Income Tax will enable you to replace paper-based systems, or upgrade your record-keeping, so you can:
- store all your records digitally and securely
- reduce risk of errors
- create digital records using your bank feed
- transfer data easily between systems
- save time by not having to re-enter information
- avoid losing paper receipts and invoices
06/12/2024
MTDfITSA? What?
The government is introducing new requirements on the way some sole traders and landlords report income and expenses to HMRC. If you’re a sole trader or landlord with income over the qualifying threshold, you’ll need to:
- use compatible software to keep up to date digital records
- send updates of income and expenses to HMRC each quarter
Making Tax Digital for Income Tax will help sole traders and landlords stay on top of their tax affairs. This is done by using compatible software to keep up to date digital records and send closer to real-time updates of income and expenses to HMRC each quarter.
These changes will help you to:
- pay the right amount of tax
- reduce the chance of making errors
- have a clear view of your finances
- plan for the future
Making Tax Digital for Income Tax will be introduced in phases for sole traders and landlords, based on their gross annual income from property and self-employment(before expenses, allowances, and tax deductions).
© Copyright. All rights reserved.
Alliance Bookkeeping
9 Allerdale Road, Clayhanger, Walsall, WS8 7SA
Tel: +447833 903658 Email: hello@alliance-bookkeeping.co.uk
Alliance Bookkeeping 2025
We need your consent to load the translations
We use a third-party service to translate the website content that may collect data about your activity. Please review the details in the privacy policy and accept the service to view the translations.