Call for Assistance: 02033 259 341
Spondoo Accounting
Call for Assistance: 02033 259 341
Spondoo Accounting

useful guides

Spondoo

Migrating from QuickBooks Desktop to Sage Business Cloud Accounting (Sage One)

As QuickBooks Desktop (QBD) stops operating on 31 January 2023 at midnight, all QBD users need to find another accounting software before this deadline. If you decide QuickBooks Online is not the right option for you, you could explore Sage Business Cloud Accounting. Sage Business Cloud Accounting is a cloud-based program commonly used by small to medium-sized businesses to process financial information. Just like QuickBooks, it offers core accounting functionality at a good value.
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Migrating from QuickBooks Desktop to QuickBooks Online

The QuickBooks Desktop (QBD) version will be discontinued on 31 January 2023, so Intuit can focus on QuickBooks Online (QBO) - which will remain available for QB users. If you are a QBD user in the UK, you must migrate your accounting data to another accounting system or QuickBooks Online by the above discontinuation deadline.
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Migrating from QuickBooks Desktop to Xero

From midnight 31 January 2023, the QuickBooks Desktop version will not be available – or supported. If you were using this version of QuickBooks, you must find an alternative MTD-compliant accounting software with powerful features and a user-friendly interface. You may have several options available to you – including Xero accounting software. Like QuickBooks, Xero has comprehensive accounting features that most businesses need to run their business. It is also optimised for small to medium-sized companies.
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Migrating from QuickBooks Desktop to Zoho Books 

If you are using the desktop version of QuickBooks, you must find an alternative solution before the discontinuation date - midnight of 31 January 2023. After discontinuation, the QuickBooks Desktop version will not be accessible or supported. Zoho Books is a good alternative if you are moving away from using QuickBooks Desktop – and want to remain MTD compliant. Zoho Books is cloud-based accounting software that provides many of the same features as QuickBooks Desktop and QuickBooks Online.
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QuickBooks Desktop is being discontinued - what are my alternatives

Small and medium-sized businesses using Quickbooks desktop for accounting and related business processes must find alternatives following the phasing out of the service from May 31, 2022. With the UK tax system transitioning to online submission processes (Making Tax Digital {MTD}), the QuickBooks team are stopping the desktop version because they fear that the platform may expose their customers to risks of using out-of-date and MTD non-compliant software. To remain compliant, you must find and migrate to a more suitable and efficient cloud accounting software.
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Buying an Electric Car (EV) through your business

Since the introduction of Telsa driving the modern EV market, the option to buy an electric car through your limited company looks more and more attractive than a petrol or diesel car.
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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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Buying a car through your business - limited company

As a limited company director, it is crucial to understand that buying a car through your limited company is a complex decision that requires a lot of consideration.
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Company Founders Beware! HMRC’s PAYE Cap Trap - R&D Relief & Tax Credits for Seed or Pre-Seed Start-Ups

For accounting periods which began on or after 1 April 2021, the claimable tax credit payment for loss-making businesses is limited to £20,000 plus 300% of its total PAYE and National Insurance Contributions. They can only claim an exemption from this cap if the business can prove it is creating or actively managing intellectual property with less than 15% of its R&D costs are subcontracted or using employees of a connected party.
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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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How to upload your receipts and invoices to AutoEntry - your options!

AutoEntry allows you to upload your receipts or invoices through the website, e-mail, or mobile app. Before you start, it is essential to bear in mind that AutoEntry only accepts documents in PDF, JPEG, TIFF, or XLSX/DOC file formats.
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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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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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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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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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How to migrate to Zoho Books from Xero

If you want to migrate from Xero to Zoho Books, you must export data out of your Xero account and import it separately into Zoho Books - in the form of CSV, TSV or XLS files. However, you don’t have to figure out how to do it yourself – you can contact the Spondoo accounting systems migration team for accurate and efficient migration services.  Follow this 10-Step process to switch over to Zoho Books from Xero effortlessly. 
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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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Submitting an Expense Report in AutoEntry - Employee Actions (Submitter)

As an employee of our Spondoo client looking to be reimbursed for your business expenses, your AutoEntry account will be set up as a Submitter. Your role allows you to upload expenses at any time throughout the month. Your employer should let you know the deadlines for you to submit these receipts for approval – this is typically done monthly.
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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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How e-pdfs are better for data automation in bookkeeping - when using AutoEntry and Zoho AutoScan

Streamlining bookkeeping processes through automation can save you time, money and help you produce a better overall customer experience. With the development of technology, businesses can improve their efficiency and increase bandwidth - by automating bookkeeping by using applications that automate tedious data entry tasks. These applications enable users to collect information (from photos, receipts, and PDFs), share that information and easily integrate with existing backend systems.
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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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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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