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Spondoo Accounting
Call for Assistance: 02033 259 341
Spondoo Accounting

useful guides

Spondoo

How to add bank feeds in Xero

Bank feeds automatically import transactions directly into Xero from your bank to ease your bookkeeper's reconciliation process. Once the feeds are operational and working correctly, you do not have to download and import bank statements to get transactions into Xero.
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Badges of Trade – when your hobby becomes a business!

Typically, it will be obvious when you are running a business selling goods, or simply selling personal assets. However, as the tax treatments between running a business and simply selling personal item is drastically different, there are rules and principles to provide clarity in scenarios where the lines start to become blurred.
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Cycle to work scheme for single director businesses

The Cycle to Work scheme is a government initiative that helps people across the UK save money on a bike or bike accessories if they intend to cycle to work. The 'cycle-to-work tax breaks apply equally to directors of one-person limited companies as they do to regular employees of large businesses. In that case, a company (employer) can buy a bike and bike accessories and loan it to the director (the employee) for qualifying business journeys.
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Inventory management software for growing businesses- Zoho Inventory

Zoho Inventory is cloud-based inventory management software designed to help small to medium sized businesses track their inventory and manage sales and purchase orders. It is used by: E-Commerce Businesses Online sellers Retailers Wholesalers Small and Medium-sized businesses
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Stock transfer forms (Form J30) - Download fillable form

A stock transfer form records the transfer of fully paid shares from one shareholder to another. Stamp Duty is paid on a stock transfer form if you use a stock transfer to buy stocks and shares for more than £1,000.
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How to integrate Starling Business account with Xero

Xero is an online accounting software platform for small businesses with tools for - tracking projects, reconciling accounts, as well as managing sales and purchase transactions. Starling Bank is a licensed and regulated digital challenger bank that focuses on current business account products. It provides B2B banking and payments services through its Banking-as-a-Service model based on the proprietary technology platform used to power its bank.
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Zoho Books - small business accounting software reviews

Zoho Books is online accounting software with features to rival any of the major global cloud accounting packages. The system allows users to manage finances and automate business workflows while working collectively across departments. It provides an exceptional choice of accounting packages for small businesses - offering an excellent user experience and a great set of tools at affordable prices.
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What documents do you need to get your business account set up with Starling Bank?

You can easily open a Starling Bank business account regardless of whether you are a limited company or sole trader. To set up the account, you will only need documents that verify your identity and the nature of your business.
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Free invoicing software for small businesses - Zoho Invoice

Zoho Invoice is a free online invoicing software (with no ads, contract, or hidden fees) that helps you:
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Share certificate- download free template

A share certificate is a formal certificate issued by a company to a shareholder to certify that they are registered shareowners in the company from a particular date. The Companies Act 2006 stipulates that a company must issue a share certificate when any shares are issued.
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Domestic VAT Reverse Charge- Building and Construction sector changes

Domestic VAT Reverse Charge (aka CIS Reverse Charge) is a piece of legislation that shifts the way the Construction Industry Scheme (CIS) & Value Added Tax (VAT) registered Contractors and Sub-Contractors handle and settle Value Added Tax. Under normal circumstances, a supplier that is registered for VAT simply charges the relevant amount on top of their normal taxable supplies. The responsibility for collecting and paying the VAT over to HMRC remains with the supplier.
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Understanding your PAYE Payment Deadlines

As an employer, you must register for PAYE and pay your PAYE bill to HMRC by the deadline.
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How to pay your Self Assessment tax bill

Your Self-Assessment tax bill includes income tax and any Class 4 National Insurance contributions you owe HM Revenue & Customs (HMRC) - if not already deducted via the Pay As You Earn (PAYE) system.
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When to pay Corporation Tax

You are legally required to pay Corporation Tax if your company is registered as a limited company in the UK. Corporation Tax is paid on any profits you may have made for the financial year.
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Zoho Books vs Xero - small business accounting software comparison

Accounting software helps to manage businesses’ financial and accounting processes. With so many accounting software in the market, it can get a little difficult to narrow down to the right one for your business. Zoho Books and Xero are very popular accounting software for small businesses. However, each of them has some unique features and capabilities and different price points. This guide will help you choose between Xero and Zoho Books based on their pricing, features, integrations capabilities, customer support and ease of use.
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Contributing to a Limited Company Director’s Pension

If you are a director of your own limited company, it is likely that you bear the sole responsibility of managing your own pension in the most tax-efficient way. Like other investment products, pension contributions will help you save. The good news is that pensions offer much more than this- through their tax benefits.
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Autoentry and Xero Integration

Xero is cloud-based accounting software with different functionalities for bookkeeping like invoice management, bank reconciliation, inventory, purchasing, expenses, and business management reporting. It also offers small and medium-sized businesses optional add-on solutions like Auto Entry that ease and automate accounting and bookkeeping processes.
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What is a Credit Note? Download free template

A Credit Note is a document sent by a supplier to their customer to notify them that they have been credited a certain amount to reduce the original invoice due. It typically shows the customer you will issue them a full or partial refund for invoices that have already been issued or paid. Some people also refer to it as a reverse invoice, credit memorandum, or credit memo.
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Dividend waiver (Download free template below)

In certain scenarios, one or more shareholders may decide to forego their rights to receive a dividend payment. In this case, relevant shareholders must make a formal ‘deed of waiver’ election prior to the dividend being declared - to waive their right to dividends.
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How to determine your payslip reference for Corporation Tax

Are you having a hard time finding your reference for your Corporation Tax payment this year? You are in luck because this article will guide you in finding the right CT payslip reference. An actual payslip reference number will have seventeen characters. It would read something like this: 1234567890A00108A
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Tax rates (with threshold) and allowances 2021/2022

Tax rates (with threshold) and allowances 2021/2022
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How to integrate Zoho with Amazon seller central

Amazon Seller Central Extension- allows you to add your Amazon customers as contacts, their purchases as sales orders, and the items you are selling as products in your Zoho CRM account. You can also track the products that your customers buy and the amount they spend- in real-time.
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Spondoo Accountants launch a Credit Control service, using Satago

Spondoo Accountants has teamed up with Satago to provide credit control services and cashflow solutions to our client base.
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Payments on Account (Self-Assessment tax bill)

A ‘Payments on Account’ is an advanced payment made towards the total tax and national insurance liability for individuals that file a self-assessment in the United Kingdom. Those individuals required to meet this obligation, need to make 2 payments. Each payment is half the previous year’s tax bill.
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End of year reporting- Employment tax 2020/21

New coronavirus tax rules and radical shifts in employer expenditure will challenge the existing End of Year compliance processes for 2020/21.
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VAT self-billing invoice explained

Under normal circumstances, a supplier issues a VAT invoice to the client after delivering goods or providing a service. However, in some cases, the customer prepares the supplier's invoice instead and gives the supplier a copy. This kind of commercial arrangement between a supplier and customer is called a Self-Billing Arrangement.
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What is accounting software?

Accounting software is a computing application used to collect, store, manage, process, transact, retrieve, and report a business’s financial data. It should help to simplify and automate the wide range of activities involved in day-to-day business accounting.
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11 tips on how to choose the right accounting software for your small to medium-sized company

In the past 40 years, the accounting world has evolved from paper ledgers to spreadsheets to desktop accounting software. We are now in the cloud computing world, where businesses of all sizes use cloud accounting systems. As a small business, you will have several factors to consider when choosing the best accounting software for you.
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Bookkeeping- do I need a bookkeeper for my business?

All businesses need someone to record their financial transactions, maintain general ledgers and prepare a periodic trial balance to maintain solid financial health. In this article, we will explain what these bookkeeping roles entail, and the importance of having a professional bookkeeper run the books of your limited company.
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Class 1 National Insurance Contributions

Class 1 national insurance contributions are those made by both the employees (primary contributions) and their employer (secondary contributions) as a percentage of the employee’s earnings. An employee’s Class 1 national insurance contributions are paid via their employer’s payroll, aka the PAYE scheme. The amount paid will depend on the following: An employee’s job category letter Periodic gross earnings of the employee
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Board meetings minutes and dividend voucher templates - free download

A dividend is the distribution of a company’s profits (sometimes known as its ‘Reverses’), that is paid to its shareholders. It can either be interim (those that are paid periodically throughout the year like monthly, quarterly) or final (only paid once a year). To recommend and declare a dividend, a company must hold a board meeting, where its directors decide on payment. The process of recommendation, declaration, and payment of dividends is highly controlled by the company's ‘article of association’ and must be documented in two vital documents - board meeting minutes and the dividend voucher.
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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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