How you will know if you are a provisional tax payer? If you earn any other income except for salary income i.e. consulting fee income, high interest income, capital gains or rental income etc. you should submit a provisional tax return. All entities/companies are registered for provisional tax and provisional tax should be submitted.

The 2nd provisional tax is based on the same accounting period as the August 2019 provisional tax calculation. So if you had to pay provisional tax in August 2019, you will know if you are a provisional tax payer.

Reminder that the individual tax submission deadline is the 4th of December 2019!

 If you would like us to handle your tax affairs, please send us your tax documents and information and we will do your tax return as soon as possible, or contact us to discuss your requirements.

 If you have a sole trader business, please send your information through as soon as possible so that we can start preparing accounts and send you financial reports in time to review and submit before the deadline.

The highlight of day two at Xerocon was Major Tim Peake’s talk about his experience on the International Space Station. It was remarkable to listen to how he had to train and what he had to experience and go through to prepare himself for the job he had to do on the space station. It made me realise that if you want to achieve your ambitious, you need to prepare, train and work hard to get what you want. Nothing happens just because you’d like it to.

What a day!

We started the conference at 9am with an introduction from Steve Vamos, CEO of Xero Global and Gary Turner, CEO of Xero UK. They shared their stories and it really helped me to understand why Xero, as a company, does what they do.

The thing that I realised is that we all have a story to tell and these guys stories are not so different from yours or mine.

Everyone is talking about disruptive technology and how this has changed all professions and accountancy is no exception.

We have seen a huge change in our profession from traditional desktop applications to cloud-based packages that all link to each other and do useful and necessary tasks very quickly and efficiently.  We have been getting lots of queries lately about what exactly do businesses need and how accountants can help businesses.

Excellent question well presented!

The ICAEW Practice Committee meeting was held in September in London and it was well attended with people coming from all over the United Kingdom. The attendees were members of all manner of practices and it was great to see everyone’s involvement and commitment towards the goal of improving standards within the profession.

Simple steps to help you and your company with cyber-attacks include:

By: Anlo Team

When I started working at ANLO Financial Solutions in July this year I had heard about Xero, but I hadn’t had the opportunity to work with it. I found the whole layout of Xero to be very user friendly in comparison to desktop-based accounting software; it gives you the ability to access such a wide range of functions it just blew my mind! (The things accountants get excited about!) After receiving my training in Xero Accounting software, I successfully achieved my Xero Advisor certificate!

Due to new EU regulations related to the banking industry, some bank feeds will stop working between August and September. This change is designed to improve information security and transparency. Basically, the feeds set up through a third party (e.g. Yodlee) will be stopped and a feed will need to be set up directly with a bank. 

I remember 9 years ago when Anlo Financial Solutions was a start-up business and I had the same questions. Being a CA, you would think I would know all the answers, but the truth is, I knew the theory but I did not know how to practically apply the theory in my own business.

I asked everyone I knew and phoned and researched until mid-night and I learnt a lot of the lessons the hard way.

But here are my top tips on what to know when you are a start-up or new business.