Platinum Accountancy Services

📢 Reminder Alert: Paper Self Assessment Deadline is Coming Up! 📢   The self assessment deadline is fast approaching, and for those still sticking with paper returns, it's nearly time to post those forms! 📮 The deadline to get your paper return to HMRC is 31 October 2024, while those filing online have until 31 January 2025.   Although most people go digital these days, around 3% of tax returns last year were still paper-based, which adds up to a hefty 335,000 returns! 📝   Why Stick with Paper?   Not everyone finds digital filing easy, and there are many reasons people might still prefer a paper return:   1. Access to Forms 🗂️ - Earlier this year, HMRC stopped automatically sending forms to many under-70s. Paper forms are no longer available for download, so anyone wanting one has to call HMRC and request it directly. 📞    2. Digital Skills - Some individuals don’t feel comfortable filing online or may not have family or friends to help. Although many assume digital skills are universal, not everyone has had the chance to learn!   3. Internet Access 🌐 - An estimated 7% of UK households don’t have home internet, especially those in rural areas or affected by affordability. Public Wi-Fi at places like libraries can be an option, but many would rather not complete personal forms in public.   4. Disability or Neurodivergence ♿ - Everyone’s brain works differently, and for some, digital filing may be challenging. Those with disabilities or neurodivergent conditions might find it easier to work with physical forms.   5. Personal Preference - Let’s face it; some people just prefer paper! 📑 Whether it’s about habit, privacy, or just the satisfaction of holding a document, these individuals will stick to paper as long as they can.   Helpful Tips for Paper Filers   For those filing by paper, there’s plenty of guidance available! 📘 HMRC’s website has instructions on how to fill out forms and any supplementary pages you might need (such as for foreign income or self-employment). And of course, accountants are here to help if you have any questions!    Important Reminder!   The deadline is for HMRC to receive your return by 31 October, so don’t forget to keep proof of postage! 📬 And if you do miss it, consider switching to online filing to avoid that pesky £100 late penalty, as you’ll have until 31 January.   Happy filing, and remember, we're here to help if you need it! 😄

🚨 Big changes are on the way for company directors! 🚨   Exciting news from Companies House as they roll out identity verification for all directors and Persons with Significant Control (PSCs) from early 2025. The goal? To reduce fraud and improve transparency 🙌   Here’s a quick breakdown of what to expect:   🗓 Spring 2025: Accountants, solicitors, and other professionals registered for anti-money laundering (AML) in the UK can register as Authorised Corporate Service Providers (ACSPs). This means they’ll be able to carry out ID verification for their clients.   🍂 Autumn 2025: ID verification will become compulsory for all new directors and PSCs at the time of incorporation. 🎉 Existing companies will have a 12-month window to get their directors verified by autumn 2026 when filing their confirmation statements.   📆 By 2027: The final stages will see automated accounts filing and the end of paper returns – bye-bye to those stacks of forms! 📝   💻 This is a HUGE shift, and Companies House is taking it step by step. Expect plenty of testing, recalibrating, and a gradual rollout to ensure everything works smoothly.   🔧 With all these changes, Companies House fees will rise (from May 2024) to cover the costs, but this phased approach means there’s plenty of time to get up to speed.   The reforms also mean more transparency for limited partnerships (LPs) and company ownership info will be even more accessible. 📊   Stay tuned for more updates – we’ll be keeping an eye on the timelines and helping clients navigate these big changes.

🎉⏳ Can you believe there are only 99 days left until the deadline for filing your Self Assessment tax return online? Time flies, but there’s no better time than right now to get it sorted! If you’ve already got it ticked off the to-do list – or let us know you don’t need to – a big thank you! 🎉 But, if you haven’t yet filed, remember the deadline is 31st January 2025. Filing early means:  ✅ You’ll know exactly how much you owe, so you can plan and budget ahead.  ✅If you’re due a refund, you’ll get it sooner. Win-win! Need a hand with your tax return? We’ve got plenty of support to help make it a breeze:  📺 Check out easy-to-follow YouTube videos.  💬 Ask questions through our digital assistant, community forums, or on social media.  📋 Use the HMRC step-by-step guide to ensure you're on track, especially if it’s your first time filing.  📞 Pick up the phone and let us handle it Don’t let the deadline creep up on you – let’s get this sorted together! 😊 #SelfAssessment #TaxReturn

💼 Got a flexible working request? Let’s talk!   Since April 2024, employees can request flexible working from day one. If an employee asks to work compressed hours over four days, you’ll need to consider it unless you have a solid business reason not to. 📝   First step? Acknowledge the request and arrange a chat. Being open to discussion and compromise can go a long way! 🤝 If the request can’t be granted, make sure any refusal is based on legal reasons and the facts are correct to avoid potential issues.    And don’t forget, if the request involves an employee living with disability, it may fall under disability law, meaning extra care is needed.   Platinum Accountancy Services Ltd is here to help! Whether it’s accountancy or HR support, we’ve got you covered. Reach out to us for guidance on handling employee requests and ensuring your processes are smooth and compliant. ⚖️   #HRSupport #FlexibleWorking #EmploymentLaw

🚨 Important Update for Employment Expenses Claims! 🚨   From 14th October, anyone wanting to claim employment expenses will need to go *old-school* 📝 by using a paper P87 form (yes, real paper!) and providing supporting evidence to prove their eligibility. This is all part of HMRC’s new “check first, pay later” approach after they noticed a rise in ineligible claims. So, if you’re claiming, be ready with your receipts and logs! 📂   Here’s what you need to know: 👉 Claims up to £2,500 per tax year can be submitted for job-related expenses that aren’t fully reimbursed by your employer. 👉 You’ll need to provide evidence – think mileage logs, receipts for tools or work clothing, and proof that you’re required to work from home (if applicable). 👉 Send your paperwork to HMRC at:      Pay As You Earn and Self Assessment      HM Revenue and Customs      BX9 1AS   🛑 No digital claims until 31st October for uniform, work clothing, and tool expenses. But don't worry – HMRC is working hard to get all digital routes back online by April 2025. 🤞   Employers can always choose to reimburse your expenses – and if they don't, you can claim tax relief through PAYE.   Heads up! HMRC has introduced these changes to reduce tax risk and prevent mistakes, so it’s more important than ever to make sure you’ve got your evidence ready to go. 💼   Have questions about the new process? Drop us a message! 💬 We’re here to help you get your claims in order (and avoid any surprises from HMRC 😉).    #TaxTips #EmploymentExpenses #HMRC #Paperwork #P87 #TaxRelief #PlatinumAccountancy

🚨 Big news for UK businesses! 🚨   At the recent Labour party conference, the Chancellor announced that the government is keen to promote the wider use of electronic invoicing (or e-invoicing) across UK businesses and government departments. 📢   So, what’s e-invoicing all about? 🤔   E-invoicing isn’t just a fancy PDF version of a paper invoice—it’s much more advanced! Think of it as a smart, structured data file (usually XML) that can be automatically read and processed by your computer system. This means less manual work, fewer errors, and faster transactions! ⚡   Tax authorities around the world are catching on to the benefits, using e-invoicing to fight VAT fraud and improve revenue collection. 🌍 For UK businesses, while it’s not yet mandatory, there are some fantastic benefits to using e-invoicing right now:   📉 Reduced Costs – Sending e-invoices costs a fraction of traditional paper invoices. ⏳ Saves Time – AP teams can process more invoices in less time. ❌ Fewer Errors – No more manual data entry mistakes! 🔒 More Secure – E-invoices are securely encrypted. 🌱 Eco-friendly – Save the trees by cutting out paper invoices. 🚀 Immediate Data Access – Get your info in real-time, straight into your system!   📈 What’s happening around the world? E-invoicing has already taken off globally! 🌎 Countries like Malaysia, Germany, France, Spain, and Estonia have either rolled it out or are planning to make it mandatory soon. And while the EU’s plans are delayed until at least 2030, the trend is clear: e-invoicing is the future!   🔮 What’s next for the UK? HMRC is gearing up to launch a consultation on e-invoicing in the upcoming Autumn Budget on 30 October. We’re likely to see the first steps toward mandatory e-invoicing as part of the government’s Digital Transformation Roadmap, due in Spring 2025. 📅   While we don’t have all the details yet, it’s a good idea for businesses to start thinking ahead. Implementing the right systems early could save you time, money, and stress in the long run! 🛠️   #EInvoicing #DigitalTransformation #HMRC #Business

# 1 RULE OF ACCOUNTING - NEVER UNDERESTIMATE THE POWER OF YOUR BOOKKEEPING 💷🗂️ Although bookkeeping can sometimes be seen as an arduous task, it can hold the 🔑 to your long-term business success! Here’s just 7️⃣ reasons why we think you should be prioritising your books from day dot 📈 Looking for some support to keep up with your bookkeeping? Our team can help take the weight off with our bookkeeping services ✅ Get in touch today to find out more 👇 📧info@platinumaccountancyservices.co.uk 📞01260 400323 . . . . . . #bookkeeping #bookkeepingadvice #cheshireaccountant #congleton #congletonbusiness

ARE YOU OVER THE VAT THRESHOLD?⚠️ Here’s what you need to know to avoid penalties… ➡️SWIPE ACROSS➡️ to find out: 🔍 What VAT is ⚖️ The new 2024/25 threshold 🤔 When you should register ✅ How we can help If it’s time for you to start considering registering for VAT, let our team help and guide you - contact us today 💬 📧info@platinumaccountancyservices.co.uk 📞01260 400323 . . . . . . #VAT #VATthreshold #businesstax #hmrc #cheshirebusiness #accountingtips

IS BEING A SOLE TRADER WORTH IT? 🤔💭 We’ve summarised the top benefits and drawbacks of registering as a Sole Trader, rather than another type of business like a partnership or limited company 💷 Ready to take the next steps with your business but looking for advice on the best route to take? 🚦 Get in touch to see how we can help! 👇 📧 info@platinumaccountancyservices.co.uk 📞01260 400323 . . . . . . #smallbusinsssadvice #soletrader #cheshireaccountant #congleton #cheshirebusiness