Uncategorised Archives - IRIS KashFlow

MTD for VAT: Does HMRC change mean businesses must sign up a year early?

James Nadal — Fri, 11 Dec 2020 16:26:20 +0000

Is your business yet to register for Making Tax Digital (MTD) for VAT? How does the prospect of signing up one year earlier than planned – by April 2021 – sound to you? That’s one way some people might interpret a little noticed change by HMRC, which could have fairly large ramifications, if you don’t […]

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KashFlow’s guide to working from home expenses

Russell Gillard — Tue, 28 Apr 2020 14:17:13 +0000

The most recent prediction is that it could take at least six months before the UK regains a state of normality, meaning that working from home will most likely be in your foreseeable future. There are some positives, working from home doesn’t only enable business continuity but also allows you to keep overheads down. Additionally, you’re able to claim tax […]

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KashFlow Payroll Named in Capterra’s Top 20 Most Popular for Payroll Software

Adam Mitchell — Mon, 05 Aug 2019 11:04:08 +0000

KashFlow Payroll named ‘Top 20 Payroll Software Product’ by Capterra KashFlow Payroll has been named a Top 20 Payroll Software Product by Capterra, a free online service that helps organisations find the right software. We’re pleased to announce we’ve made it into the ‘Top 20 Most Popular Payroll Software’, an independent assessment that evaluates user […]

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Making Tax Digital and additional VAT functionality update

Adam Mitchell — Mon, 21 Jan 2019 16:34:24 +0000

We’ve always prided ourselves on being specialists in straightforward bookkeeping for sole traders, freelancers, small and micro businesses. Paying VAT is one of the biggest and most daunting parts of any small business’s accounting journey, whether you’re preparing to register for the first time or you’re a tax veteran. VAT has gotten a lot of […]

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Making Tax Digital: What You Need to Know

Adam Mitchell — Mon, 10 Dec 2018 16:09:43 +0000

Making Tax Digital: What You Need to Know HMRC recently introduced a fundamental change to the way the UK tax system works. It’s called Making Tax Digital, and it’s being rolled out across the country over the coming years. If Making Tax Digital is new to you, or you’re not sure if the changes apply […]

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Beginner’s guide to business tax

Andrew Woodhouse — Fri, 19 Oct 2018 08:47:57 +0000

Beginner’s guide to business tax With a new business comes new tax responsibilities, and if this is your first time then it can all look a bit confusing. So to help you out, we’ve written this quick guide to the main types of business tax you’ll have to pay, how you’ll pay them and what […]

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The KashFlow Guide to Working from Home

Andrew Woodhouse — Fri, 28 Sep 2018 08:16:48 +0000

One of the best ways to keep overheads down in the early days of running a business is to work from home. But did you know you can save some more money by claiming tax relief? It’s true! HMRC allow you to claim tax relief for home expenses if you run your own business from […]

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What is Managed Payroll?

Andrew Woodhouse — Thu, 13 Sep 2018 10:53:42 +0000

What is Managed Payroll? At KashFlow, we recently launched Managed Payroll – which is our name for an outsourced payroll service. In this blog, we’ll take a look at what outsourcing actually is and why it could be a massive benefit for your business. What is outsourcing? Outsourcing is defined as “obtaining goods or services […]

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Small businesses facing Auto Enrolment audits and fines

Andrew Woodhouse — Fri, 07 Sep 2018 08:30:31 +0000

Now that Automatic Enrolment into Workplace Pension schemes has finished its rollout and applies to businesses of every size, The Pensions Regulator are carrying out audits to ensure that business are meeting their responsibilities. Further to this, they are actively fining businesses that aren’t complying with legislation regardless of that business’s size. What fines can […]

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What is the cash flow gap?

Andrew Woodhouse — Fri, 24 Aug 2018 08:35:52 +0000

If left unchecked, a cash flow gap can create serious problems for a small business. There are, however, ways for business to plug this cash gap and ensure their business maintains a smooth financial ride through the year. In this blog, we take a look at some of the most effective methods. What is a […]

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Introducing KashFlow’s New Mileage Module

Adam Mitchell — Fri, 17 Aug 2018 08:31:25 +0000

Sole traders and partnerships who use HMRC’s “simplified expense” method must log all the trips they make for work and claim back the mileage from their business. The amount they can claim back is variable depending on the number of miles they travel in the Tax Year. We understand that keeping track of all business trips […]

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Expense management tips for SMEs – challenges and solutions

Guest Contributor — Fri, 10 Aug 2018 08:29:30 +0000

In this week’s blog, Cashplus explore the common expense management issues faced by small businesses – and how Making Tax Digital is set to change ways of working across the board. In a survey conducted by Certify on Expense Management Trends, it was shown that 55% of small business owners used Microsoft Excel/spreadsheets as their […]

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Is online bookkeeping secure?

Adam Mitchell — Fri, 03 Aug 2018 08:23:53 +0000

What do we mean by ‘online’ bookkeeping? Online bookkeeping utilises ‘the cloud’. In layman’s terms the cloud is simply a way that data and software is stored online. By using online bookkeeping software you’ll have access to your bookkeeping software and business’s financial data through the cloud wherever there is an internet connection. Unlike legacy […]

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What is Expense Management?

Andrew Woodhouse — Fri, 27 Jul 2018 08:42:14 +0000

We’ve partnered with Cashplus to help KashFlow customers manage their expenses using a prepaid card solution. We’ve already given expense management a brief introduction, but we wanted to delve deeper in what expense management actually is and how it can help your business. If you’ve any questions, or insights into how you manage expenses in […]

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What is Real Time Tax?

Andrew Woodhouse — Fri, 20 Jul 2018 08:28:43 +0000

As a major component of Making Tax Digital, Real Time Tax is a term that UK small businesses will need to know if they’re over (or approaching) the VAT threshold.

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KashFlow Guide to Direct Debits

Andrew Woodhouse — Fri, 22 Jun 2018 08:14:05 +0000

We’ve partnered with GoCardless to help our customers get paid on time by adopting Direct Debits. But is this the right payment collection method for your business? This blog looks at the advantages of using Direct Debit payments, and some of the background into setting one up. Why choose Direct Debits? Direct Debits are pull […]

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Understanding the VAT Annual Accounting Scheme

Andrew Woodhouse — Fri, 15 Jun 2018 08:21:13 +0000

With Making Tax Digital and its online-only, quarterly reporting around the corner, we take another look at the VAT Annual Accounting Scheme to see how it will change with this new tax initiative.

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Business Payments Through the Years

Andrew Woodhouse — Fri, 08 Jun 2018 08:03:59 +0000

With the UK moving ever closer to a cashless and contactless society, we thought it would be fun to look back at all the ways businesses have received payments. Making and taking payments runs deep into our past, with the first coins being traced back to the Iron Age Anatolia (now Turkey). Since then, we’ve […]

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Staying on top of your bookkeeping ahead of Making Tax Digital

Andrew Woodhouse — Fri, 01 Jun 2018 09:19:40 +0000

With the new Making Tax Digital system coming into effect early next year, businesses over (or approaching) the VAT threshold will need to make sure they have a bookkeeping system in place that is both simple to update and easy to understand.

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5 Ways Your Business Can Find Customers on Social Media

Andrew Woodhouse — Fri, 25 May 2018 09:28:49 +0000

The Battle for Attention: Here’s What Your Business is Up Against Startups with a strong social media presence understand that it takes more than a funny cat meme or inspirational Facebook post to get customers. In a world where over 300,000 Tweets and over 30,000,000 Facebook messages are created every single minute, startups face an […]

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How to Transition Your Physical Business Online

Guest Contributor — Fri, 18 May 2018 08:31:19 +0000

If you currently own a brick-and-mortar business and fail to have an online presence, you are missing out on a huge avenue of finding new potential customers. At this point, most people spend time searching for companies online. They no longer drive around their neighbourhood looking for the perfect store. They perform research on the […]

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Qualities That Make a Good Leader

Andrew Woodhouse — Fri, 27 Apr 2018 09:21:23 +0000

There’s plenty of advice available on how to be a good leader, though which will apply to you, your team and your business will There are three things you need to know in order to be a good leader: Know your team, including their strengths and weaknesses Know your business’s direction, and how the team […]

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Small Business Guide To Company Car Tax

Andrew Woodhouse — Thu, 12 Apr 2018 14:47:16 +0000

If you provide your employees with a company car (or fuel) that they can use for personal transport*, then they’ll have to pay company car tax. This is because you’re providing the car in addition to their standard wage, so HM Revenue and Customs will see it as a taxable perk. *Personal transport includes an […]

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Small business guide to redundancy pay

Andrew Woodhouse — Thu, 29 Mar 2018 09:04:23 +0000

What is redundancy? Redundancy is when you, as an employer, reduce your workforce because jobs are no longer needed. As businesses restructure and evolve, it’s an unfortunate fact that sometimes roles are no longer required – either due to a change in your business’s emphasis or as a cost-cutting measure. In this instance, you may […]

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Do You Need A Business Bank Account?

Andrew Woodhouse — Fri, 23 Mar 2018 09:18:54 +0000

Sole traders aren’t legally required to own a business bank account, but there are several advantages to having separate business and personal finances. In this blog, we look at why you might want to open one. Do I need a business bank account? If you’re a sole trader, then it’s not compulsory for you to […]

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What Is An Employer Reference Number?

Andrew Woodhouse — Fri, 16 Mar 2018 09:40:36 +0000

An Employer Reference Number (ERN) is a unique set of letters and number used to identify your business. Also called your employer PAYE reference on tax forms, you’ll be given an Employer Reference Number when you first register as an employer with HM Revenue and Customs. Your Employer Reference Number will consist of a 3 […]

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Setting up PAYE

Andrew Woodhouse — Fri, 09 Mar 2018 09:31:20 +0000

In a Pay As You Earn (PAYE) online scheme, you deduct income tax and National Insurance Contributions (NICs) from your employees’ salary and pay it to HM Revenue and Customers. If you don’t, you’ll be liable for the tax owed. If your employees earn more than £113 per week, get expenses or benefits, have another […]

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Win a Hot Air Balloon Ride for two!!

Andrew Woodhouse — Mon, 05 Mar 2018 16:25:24 +0000

At KashFlow, we want to help small businesses soar. And this month, we’re taking that literally and offering our existing customers a chance to win a Celebration Hot Air Balloon Ride for Two with Virgin Experience Days! How to enter To enter this fantastic competition, you simply have to refer a friend using your unique […]

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6 Problems Small Businesses Solve With Texting

Guest Contributor — Fri, 02 Mar 2018 09:11:32 +0000

Every business owner knows that the place to reach their customers is on their mobiles. But did you know that sending and reading text messages are the number one and two functions mobile users make use of? Reading emails and surfing the internet come in at three and four, respectively. With the popularity of mobile […]

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The Pros And Cons Of Moving Over To A Limited Company

Andrew Woodhouse — Fri, 23 Feb 2018 09:15:20 +0000

What is a limited company? There are two primary types of limited company – those limited by shares and limited by guarantee. The first is the most common amongst businesses, while the second is normally for non-profits and charities. Limited companies are incorporated at Companies House, which means they become their own legal entity. As […]

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Tips & Tricks for Online Small Business Success

Guest Contributor — Fri, 16 Feb 2018 09:20:02 +0000

There’s never been a better time to start a small business, given the explosion of technological devices and the Internet of Things. The sheer extent of our global connectivity means that, today, you can reach customers on the other side of the planet for mere pennies on the dollar. For you, the average consumer and […]

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How to Register a Company Name

Andrew Woodhouse — Fri, 09 Feb 2018 12:46:53 +0000

Want to register a company name? This guide covers all the steps from picking a name to proving it’s yours! Do I have to register my company name? Registering your company name isn’t compulsory for sole traders, though you will have to register yourself with HM Revenue and Customs. You’ll have to do this in […]

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How to set up an eBay business

Andrew Woodhouse — Fri, 26 Jan 2018 10:28:48 +0000

1000s of UK small business count eBay as their primary source of income, with some even becoming millionaires through the platform. While eBay still has a reputation as a website people use to flog their unwanted items, there are now hundreds of successful eBay businesses. And while the auction element is still at the heart […]

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Can you be employed and self-employed?

Andrew Woodhouse — Fri, 12 Jan 2018 09:38:55 +0000

If you’ve got an idea for a business, but aren’t in a position to fully invest your time and energy into it just yet, then you’re in luck – as you can be employed and self-employed at the same time! Not only is it possible, it’ll be easy for you if you follow the steps […]

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When Does A Small Business Need To Start Paying Tax?

Andrew Woodhouse — Fri, 05 Jan 2018 09:35:23 +0000

When to register a new business for tax You should register as a sole trader or a partnership as soon as you start trading. There are two easy ways to do this: Calling the HM Revenue & Custom’s Newly Self-employed helpline on 0300 200 3504 Registering online at https://www.gov.uk/log-in-file-self-assessment-tax-return If you’re registering as a private […]

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Productivity + Positivity: 5 Ways to Work Better and Feel Better

Guest Contributor — Thu, 21 Dec 2017 11:01:38 +0000

In the modern workplace, the pressure to perform optimally at all times can feel overwhelming. With demanding deadlines, long hours and back-to-back meetings all adding to the average office worker’s stress levels, it can become difficult to drum up the positivity you need to work at your best – but it doesn’t have to be. […]

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Construction Industry Scheme (CIS) For Hiring Contractors

Andrew Woodhouse — Fri, 15 Dec 2017 09:14:51 +0000

If you’re a contractor hiring a subcontractor, then you may have to register for the Construction Industry Scheme to contribute towards taxes. What is the Construction Industry Scheme (CIS)? The Construction Industry Scheme (CIS) is designed to prevent self-employed subcontractors from avoiding paying tax. Under CIS, contractors deduct income tax directly from subcontractor payments and […]

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Employment Allowance

Andrew Woodhouse — Thu, 07 Dec 2017 09:46:30 +0000

Employment allowance grants employers up to £3,000 per year off their secondary Class 1 National Insurance bill. The allowance is taken off your National Insurance Contributions (NICs) until the £3,000 has gone or the tax year ends – whichever comes first. Can I claim Employment Allowance? Most businesses and charities, including community amateur sports clubs, […]

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A Guide to Emergency Tax

Andrew Woodhouse — Fri, 01 Dec 2017 10:02:36 +0000

What is emergency tax? Emergency tax codes are issued when HM Revenue and Customs don’t have enough information about an employee’s income and tax details for a tax year and they can’t issue the correct tax code. As an employer, you can use these emergency tax codes to work out how much tax to deduct […]

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What is an EC Sales List?

Andrew Woodhouse — Tue, 28 Nov 2017 09:31:53 +0000

EC Sales Lists are used when reporting the VAT on sales to the EU.

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Guide to HMRC PAYE Forms

Andrew Woodhouse — Fri, 24 Nov 2017 09:14:04 +0000

The Pay As You Earn (PAYE) system is a way of paying income tax and National Insurance contributions (NICs). In the PAYE scheme, you’ll deduct tax and NICs from the employees’ wages before they are paid. If you use the PAYE system, there are forms you’ll need to include in your payroll to show how […]

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What is the Flat Rate VAT Scheme?

Andrew Woodhouse — Tue, 21 Nov 2017 08:53:17 +0000

The VAT Flat Rate Scheme is an alternate way to pay VAT, in which you pay a certain percentage and keep the difference.

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Employee Performance & Appraisals

Andrew Woodhouse — Fri, 17 Nov 2017 09:43:47 +0000

What are employee appraisals? Employee appraisals are a method of evaluating employee performance and providing feedback on it. Performance appraisal of employees should be part of an ongoing development program between employers and their teams. It is advised that a record is kept of employee appraisals, so there should be both written and verbal feedback. […]

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What is a credit note?

Russell Gillard — Mon, 13 Nov 2017 15:00:21 +0000

Every business aims to deliver the best service as often as possible but, no matter how hard you try, mistakes can be made. Yet, the way you react to a mistake is vitally important. This is your chance to show you are professional and fair – every customer will forgive an honest mistake if the […]

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What is employee engagement?

Andrew Woodhouse — Fri, 10 Nov 2017 09:21:13 +0000

What is employee engagement? Employee engagement is a method of improving workplace culture so that employees are more involved in and enthusiastic about their work. By setting various conditions in the workplace, including open communication, you can encourage a more motivated and productive workforce. What are the aims of employee engagement? The aim of employee […]

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Get a Startup Loan in One Day

Duane Jackson - Founder — Wed, 06 Mar 2013 11:29:30 +0000

I’ve been fortunate enough to see the Startup Loans initiative take shape from close-up. I’ve seen it go from an idea in my chairman’s over-worked head to being announced by government to being a reality. Now it’s all up and running, there are numerous ways you can get a startup loan. But there’s an event this Saturday being held […]

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Service Availability Issues (Now Resolved)

Duane Jackson - Founder — Wed, 27 Feb 2013 12:37:08 +0000

There have been intermittent issues with accessing KashFlow over the past 24-48 hours. This affected about 20% of our customers and made the system too slow for them to use. This is of course totally unacceptable for an application that you rely on for your accounting needs. I feel personally responsible for the disruption to […]

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