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Spondoo Accounting
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Spondoo Accounting

Helpful articles

Spondoo

Expert Accountants for e-commerce business accounting

Spondoo Accountants has a specialist team of e-commerce experts that works with Amazon FBA, Private Label, dropshipping and retail arbitrage sellers. We provide outstanding, tailored accounting services while ensuring our clients' information is up-to-date, accurate, and filed correctly – to avoid penalties and surprise tax bills.
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How long does it take to Close (Strike Off) my limited company

To close or strike off your own company from Companies House, you can complete the form DS01.
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How to cancel your VAT registration

You can voluntarily apply for deregistration if your VAT-registered business’s turnover falls below the deregistration threshold of £83,000.
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How can I change my Unique Taxpayer Reference (UTR) number?

Naturally, you may want to change your UTR number if you have had financial trouble or have faced convictions or penalties relating to your tax activities and would like a new start. You may also be thinking of creating a new one if you have lost your current UTR number. This article talks about what to do in each case.
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How can my limited company reimburse me for using my own car for Business Activities

If you prefer to have the company reimburse you for business travel where you use your own car, you can reimburse the actual receipts for fuel, or use HMRC’s approval mileage rates.
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Company Founders! Get an Accountant that is prepped to scale your start up

We are accountants that focus on supporting you from bootstrapping the business in your bedroom to getting your initial Seed capital from angel investors, through to receiving your Series A to C funding rounds. This business journey, whether it is slow or fast, demands very different things from your accounting firm at different stages of your growth.
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Why is HMRC asking me to file a Tax Return? Who needs to file Self Assessment'

If you receive income or capital gains that do not have tax automatically deducted via your employer’s payroll/PAYE system you will need to report this under a self-assessment. The Self-Assessment personal tax return informs HMRC about your taxable income and gains for a tax year and is submitted online or by paper annually.
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Have you lost access to your HMRC gateway? This is how to recover your HMRC online services user ID and password

HMRC will lock you out of your account if you enter the wrong user ID or password five times. Losing access to your Government Gateway can be frustrating - luckily, it is recoverable.
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When do I need to leave the VAT Cash Accounting Scheme?

When using the cash accounting scheme and part of a growing business, it is vital to monitor the taxable turnover of your business, to ensure you are fully prepared when you reach the opting out limit.
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How to connect your Xero account to Revolut

Xero is cloud-based accounting software that allows you to manage your finances in real-time. Revolut is a global financial app offering banking services to businesses. You can seamlessly integrate Xero and Revolut to sync transactions between the two platforms.
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HMRC fined me before my accounting deadline! When HMRC issue your first accounting periods - 'Short then Long'

Accounting periods for a company with Companies House can have a maximum of 18 months. For example, if you incorporate a company on 1 January 2022 and chose to have a year-end of 31 March, an accounting period cannot be less than 6 months, so your first accounting period with Companies House would be 15months to 31 March 2023
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UK Tax Rates, Thresholds and Allowances for the 2022/23 Tax Year

If you are a sole trader (self-employed), limited company, a partner in a limited liability partnership, employer, employee or you take part in any and other business activity in the UK; it is essential to understand allowances, rates and thresholds because they influence the amount of tax that you pay and how you pay it.
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Closure of Datadear - we have an alternative Excel Add In - Accounting.BI

DataDear replacement ! If you have been using DataDear to connect your Xero Cloud accounting system to Excel, you will no longer be able to do this from October 2022.
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Changing your bank account on an existing direct debit for collecting your VAT

You can easily change the bank details for your existing direct debit VAT account without calling HMRC. To change the bank account, follow the following steps:
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How to set up, change or cancel from VAT Direct Debit with HMRC

Using Direct Debit is the easiest way to pay for VAT online because payments are taken automatically from your bank account three working days after the due date on your VAT return - and then take three days to process. Once you set up your Direct Debit, you only need to remember to check if you have enough money in your bank account.
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How to change your bank details that receive Child Tax Credit

If you claim Child Tax Credit, it is crucial to report any changes to your circumstances to HMRC to get the right amount of benefits on time. It is also important to keep records when divulging changes to avoid possible fines and penalties associated with late reporting.
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UK banks that accept companies with overseas (foreign) directors and owners

It can be tough to get a business bank account in the United Kingdom when your own business falls into the following categories: UK limited company where all directors are non-resident UK limited company with UK or more UK resident directors, as well as one or more foreign or non-UK resident directors
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Important UK tax dates and deadlines for the 2022 / 2023 tax year

It is important to know the key dates and deadlines for the tax year to avoid a penalty for missing the deadlines. We have compiled a list of the important dates for the 2022/2023 tax year you need to know. It includes: Tax filing deadlines Tax payment deadlines Self-assessment tax return  dates and deadlines Key dates for PAYE Deadlines for submitting VAT returns
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Running a limited company while being employed

It is quite common to have full or part-time employment while operating a limited company, reasons for this can include: Running your stealth startup before you have the revenues to go out on your own Working a part-time job while contracting via your limited company Temporarily on a client's PAYE scheme for a contract that falls inside IR35 Working a full-time job while operating a 'Side Hustle' For these scenarios, we have tried to detail some areas you should consider.
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Deemed Employment Income - the calculation and reporting obligations

The following calculations apply to individuals working via limited companies under a contract that falls within IR35, where the obligations fall on the contractor and the contractor's business. This will typically be where the contractor client is a small business. Contractors providing services to a public sector client, or any medium or large-sized client outside the public sector will not usually need to perform this calculation as the tax and national insurance will be withheld by the client directly.
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Yours responsibility to inform Spondoo about your IR35 contracts and why – when contracting via your limited company

If you are a contractor, you have no doubt heard of IR35 and like interacting with it in some shape or form. Based on the type of scenario you are engaged in you will have different bookkeeping as well as reporting obligations with HM Revenue & Customs, so this page attempts to explain the reasoning and triggers where you and why you need to let your Spondoo Accountant about the IR35 status of your particular contract
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IR35 Guidance - When my client deducts tax and national insurance from my invoice via my limited company

When you work on a contract with a public sector client, or any medium or large-sized client outside the public sector that falls inside IR35, they are obliged to deduct tax and national insurance from your invoice. This process attempts to explain how to account for this in QuickBooks as well as how things are reported to HMRC.
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Your Christmas Party Tax Exemption - inviting friends and family

To help you spread the Christmas cheer to your employees, HMRC provides limited company directors with tax incentives on the annual Christmas party! Although tax laws do not specifically address an allowance for an employer providing a Christmas party for employees, HMRC allows limited tax relief against the cost of holding a function for your employees – provided certain conditions are met.
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Free Tax, Bookkeeping and Accounting consultation and advice on WhatsApp at +447395534661 

Stop waiting to book a call with your accountant, chat with us instantly and on the move! We are available via WhatsApp at +447395534661 – drop us a message, and we will get back to you. 
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Xero Connector for PowerBi - Sync your accounting data to your online financial dashboard

Accounting.BI is a data analytics platform designed for extracting data from Xero.com cloud accounting software to build online financial dashboards and real-time management accounts.
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Xero Connector for Excel - Sync your accounting data to your management accounts

Accounting.bi is an online platform that allows businesses, data analysts and accountants to link their accounting software to Excel. It is designed to allow accountants and business owners to avoid manually downloading data from Xero cloud accounting to their excel-based management accounting reports.
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VAT Margin Schemes

Some VAT registered businesses like second-hand booksellers tend to buy their goods from individuals who are not usually VAT registered themselves, like consumers and private individuals. When this occurs VAT can become a particularly large burden on the profitability of these types of businesses, as traditional rules require these traders to account for VAT on the entire sale value, despite having no ability to reclaim any input VAT. As a result, HMRC designed the Marginal Rate Scheme for these types of traders.
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Difference between sa302 and tax year overview – what you provide your mortgage provider

If you earn income outside of PAYE banks and lenders may find it difficult to determine how much you earn when you ask for a loan. In that regard, they may request an SA302 form to verify a stable income. SA302 and Tax Year Overview are both summaries of your total income and tax submitted to HMRC for a given tax year. However, the SA302 is more details and includes the full tax calculations for the year, whereas the Tax Year Overview only details the tax return totals, as well as the payments received by HMRC.
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The Super Easy new way to get access to your HMRC Personal Tax and Self Assessment Account

Your Personal Tax Account (PTA) will help you manage your personal tax affairs in one secure place. It also offers a range of other services - like giving you the ability to check, update and manage your details with HMRC online. This article outlines easy steps to help you access your Personal Tax Account.
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The expenses module in AutoEntry - approvers and bookkeepers’ actions

As an Approver in AutoEntry, you are required to approve the expenses submitted by your employees in line with the timings agreed with your Spondoo Accountant. Without performing this approval step, your Spondoo Bookkeeper will not be able to see the expenses reports to be pushed across to Xero, QuickBooks or Sage
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Working from Home Allowance Calculator – employed individuals

As a company Director or employee, you can claim tax relief for additional household costs if you must work at home regularly, either for all or part of the week.
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Working from Home Allowance Calculator – when invoicing your limited company

As a limited company director - instead of claiming the working from home Flat Rate allowance of £6 per week (£26 per month) under the simplified expenses rules, you can rent out a personal workspace in your home to your limited company. You are allowed to claim certain costs from your company if you provide home office space when working from home.
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Working from Home Allowance Calculator – Self-employed individuals

If you are a self-employed person working from home, there are different work-related business expenses that you can claim. HMRC allow you to charge your 'work from home' costs to your business and claim tax relief on them.
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Companies Incorporated by Guarantee vs Share Capital

Private limited companies in the UK are either ‘limited by shares’ or ‘limited by guarantee.’ In this article, we will explain the difference between the two structures. We will also assess when to incorporate a limited by shares or guarantee company.
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Tax relief for Replacement of Domestic Items

The Replacement of Domestic Items Relief legislation allows landlords to claim tax relief when they replace (not initial purchase) - allowable domestic items. It only applies to landlords (companies, individuals, and trusts) - who let residential property and not furnished holiday lettings.
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Tax Relief on tips/descretionary service charges you pay while on business

We all know the types of services where there could be an expectation to pay a tip, such as waiters, taxi drivers, or concierge - but what is the tax man's opinion?
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Cheap Tax Accountants in Dorking, Surrey

We provide cost-effective, high-value accounting, bookkeeping and business technology solutions to individuals, startups, and established companies in and around Dorking in Surrey. 
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Am I a UK tax resident? How to determine your UK residence position

It’s important to know if you are a UK resident as your residence status determines your UK tax liability and entitlement to Income Tax allowances and exemptions.
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VAT rules for entertaining expenses: Staff Entertainment

For VAT purposes, “entertainment” is described as the provision of hospitality of any kind. The costs regarded as entertainment or the provision of hospitality come in different forms like:
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Find accountants in Kingston – business and tax advisors

We have licensed accountants and tax advisors for Kingston - providing our clients with accounting, bookkeeping and advisory services. We also advise our clients on the best ways to grow their business while keeping their accounts and tax liabilities in order.
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Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. Spondoo is a trading name for Accounting SQL Limited, authorised & license accounting firm under the Institute of Financial Accountants.

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