Corporation Tax online – its free, its iXBRL complaint and you can file accounts too

I recently registered to use the HMRC Corporation Tax online services and my activation codes arrived today, so far I am impressed.

Obviously you need to know how to correctly do your Tax Computations first, nothing can remove the complicated tax calculations for Capital Allowances, Loans to Participators, Small Company Relief etc, you need skill for that part. But from reading the manual it seems that you can enter your accounts, computations and complete the CT600 and file it without needing to spend a fortune on specialist software to produce the iXBRL tagging now required.

Let’s see if I am still impressed when I try to enter the information.

steve@bicknells.net

Free Accounting Software – forever

I love free things, don’t you?

I discovered TAS books basics a while ago

http://www.tassoftware.co.uk/site/tas_accounts_software/basics

It is absolutely totally free and for a small business its ideal, its much better than trying to create your own system using spreadsheets. If you are a new business starting out why not give it go.

steve@bicknells.net

Who is next on taxman’s hit list? are you prepared…

It seems the taxman has got bored with chasing the self employed and moved on to the middle classes and white-collar professionals as highlight in this article in the Sunday Express today

http://www.express.co.uk/posts/view/269055/Taxmen-target-middle-classes-Crackdown-on-tax-cheats

Doctors and Dentists are now top of the hit list.

Chancellor George Osborne has branded tax-evaders “leeches”, convictions for tax evasion have jumped 38% over the past year to 148 for the year to March 2011.

Sometimes tax issues can arise from simple mistakes and misunderstandings, if your accounts and records need to be reviewed now is the perfect time to seek help from your accountant.

steve@bicknells.net