Category: Finance

5 Benefits of Making Tax Digital

Making Tax Digital (MTD) is the HMRC plan to switch tax administration from paper-based systems to a digital tax platform. Getting ready for Making Tax Digital (MTD) can seem like an effort, but the good news is that it will almost certainly make life easier. The aim of MTD is to help individuals and businesses manage their accounts m...

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Making Tax Digital for Income Tax Self-Assessment

What is MTD for ITSA? Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) is due to launch in 2024, but you need to start preparing now. To help you, we’ll be releasing a series of articles to explain everything you need to do to get ahead of the curve and ensure a smooth, stress-free transition. From the basics, ...

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Checking Your Xero Set-Up

Xero is about as reliable as you can get if you’re looking for ease, efficiency, and accuracy for your accounts. But like any smooth-running machine, from time to time it benefits from a thorough health check to make sure its systems, and yours, are operating at their best. The benefits of running a Xero health check: Update inf...

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How to get ready for Making Tax Digital for VAT

If you’re a business registered for VAT with a turnover of under £85,000, you need to know about Making Tax Digital for VAT (MTD). Your deadline is April 2022, so now is the time to sign up, do your research, and choose the right software. What is Making Tax Digital for VAT?  The aim of MTD for VAT is to make it easier for busin...

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Customer Success Story: Conversational AI

Established in 2020, Conversational AI Limited (“CAI”) provides specialist consulting services to Enterprises in Artificial Intelligence, helping them deploy intelligent solutions, such as chatbots, to automate customer interactions. Their services range from ideation and strategic planning through to solution design and build of chat...

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Should my business have tax investigation insurance?

More than ever before, HM Revenue and Customs (HMRC) are cracking down on individuals and businesses who aren’t paying the right amount of tax. Investigations can be invasive, worrying, long and expensive. But you can avoid those sleepless nights and make sure you’re protected. Here’s what you need to know. What is a tax inves...

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Whittock Consulting Ltd is awarded Xero Gold Partner status.

We are delighted to announce that Whittock Consulting Ltd have achieved Xero Gold Champion Partner status. With the additional training our team receive, we are now able to provide the highest level of service and value add to our clients. Whittock Consulting Ltd was set-up in 2013 with a view to supporting growing businesses with outs...

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How Xero accounting software makes life easier for us and you

Whittock Consulting Ltd are proud of our Xero Certified Silver Partner status. As you’d expect, we use Xero a lot here, and in tandem, many of our clients do too. In this latest blog, we thought we’d share some of the benefits we deliver to our clients through our Xero partnership. What is Xero Accounting Software? Xero is a cloud-b...

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Small business pessimism highlights the need to take insight from your numbers.

According to a recent survey from ACCA UK (the Association of Chartered Certified Accountants) and The Corporate Finance Network, 1 in 5 small businesses believe full trading recovery following the COVID-19 pandemic will take two years. This gloomy prediction came from a survey of accountants representing 7,065 clients. The same articl...

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Post-lockdown Intel for Company Directors

Are you a company director seeking guidance as we exit lockdown? Want to know the potential pitfalls and opportunities that lie ahead? To help you chart the way, here’s our intel on 5 areas on which Company Directors need to be aware. 1. Dividends timebomb? If you’ve taken dividends this year, you need to be sure the busines...

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