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Spondoo Accounting
Call for Assistance: 02033 259 341
Spondoo Accounting

useful guides

Spondoo

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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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 Dates and Deadlines 2021/2022

Tax Dates and Deadlines 2021/2022
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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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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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Forms P11D and P11D(b) - benefits in kind returns

The P11D is a form used to report employment-related expenses and non-cash remuneration (benefits in kind) paid or provided to directors and employees.   Most of the employment income is reported via payroll under  Pay As You Earn (PAYE). PAYE primarily caters for cash or cash equivalent forms of remuneration, but the P11D system captures the items that fall outside of this process. 
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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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Self-assessment- registration, filling, rates, and penalties

Every year certain taxpayers must complete a tax return declaring their income and capital gains while claiming any applicable allowances and reliefs. Despite a large portion of the UK population having tax deducted automatically from wages, pensions and savings via the Pay As You Earn (PAYE) system (for employees), individuals with other sources of income must report it in a tax return. Technically, Self-Assessment is the system HM Revenue and Customs (HMRC) uses to collect this Income Tax.
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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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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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Onsite Canteen and Lunch Vouchers - Are They Taxable?

The provision of food and drink to an employee by their employer is a lovely thing to do. Eventually, it promotes teamwork, loyalty, a sense of belonging and even improves productivity. Taking it at face value makes it look like a simple act of kindness. However, unless it is done correctly, it can cause tax and national insurance compliance issues for the employer.
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How To Set Up A Limited Company 

A Step-by-Step Guide  This is an easy-to-understand, step-by-step guide, to opening a successful limited company. But before we dive in, let’s check the legality surrounding it. 
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Key UK Personal Tax Year Dates & Deadlines 2021/2022

Are deadlines creeping up on you? Spondoo is here to ensure you keep on top of things and take control again. These are the important dates you should take note of.
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Self-Employed National Insurance Class 2 and Class 4 Rates

If you are sixteen and over, self-employed (sole trader or in a partnership) and making a profit befitting the ‘small profits threshold’, you are liable to pay national insurance.
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Can You Claim Food as a Business Expense?

The golden rule when claiming business expenses is that the cost must be “wholly and exclusively” for business purposes. So, where do you stand when it comes to food and drink? After all, everyone needs these things to survive. When does it become an allowable expense? Read on to find out when your business can claim food and drink as an expense.
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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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