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Making Tax Digital For Income Tax – Now In Force

Making Tax Digital (MTD) for Income Tax is now live, having come into force from 6 April 2026. This marks a significant shift in how self-employed individuals and those with income from property report their income to HMRC, and it is already impacting a substantial number of taxpayers. The new regime currently applies to those […]

Read more April 28th, 2026

How Cloud Accounting Can Help You

In business, staying ahead of, or at least up with, the curve is crucial for success. Over recent years, one of the revolutionary tools that has transformed the way businesses manage their finances is cloud accounting. Cloud accounting offers many benefits over traditional, on-premise accounting systems. Let’s discuss some of them. What are the benefits […]

Read more February 16th, 2024

Accounting Software For Landlords

When choosing accounting software, there are a few key features to look for. Surprisingly, not all accounting software will work for landlords. In fact, the majority of accounting software does not accommodate smaller landlords who operate as individuals, own less than 5 properties and don’t treat property as their primary income. With Making Tax Digital […]

Read more November 22nd, 2022

Domestic Reverse Charge For CIS VAT Codes For QuickBooks Users

Following HMRC’s introduction of the new rules from 1 March 2021, QuickBooks have now updated their processes so you only need to have VAT activated on QuickBooks to be able to access the new VAT codes. You do not need CIS Tax activated as well. You will need to activate the new VAT codes as […]

Read more March 12th, 2021

Domestic Reverse Charge For The Construction Industry Scheme VAT Codes To Use

The new VAT rules for HMRC’s Domestic Reverse Charge for the Construction Industry Scheme comes into effect on 1 March 2021. If you are using software to prepare your bookkeeping, you will need to use new VAT codes to account for these transactions. The new VAT codes can be found as follows:- Sage Line 50 […]

Read more February 24th, 2021

Post Brexit New VAT Rates To Use For Bookkeeping

Following the BREXIT transition period coming to an end on 31 December 2020, from 1 January 2021, new VAT codes have become available to use for bookkeeping. Please see below details for how to access the new rates on Sage 50, Sage Cloud, QuickBooks and Xero and how to activate Postponed VAT Accounting if you […]

Read more February 23rd, 2021

QuickBooks Online Special Offer

How are you doing your bookkeeping? Are you online with your Bookkeeping? Can you access it anywhere? Why use QuickBooks Online? Now is a good time to move to the cloud. Our COVID-19 Offer – Available until 31 August 2020 At Shapcotts Accountants we are offering clients the Plus Version of QuickBooks Online for £12.00 […]

Read more May 21st, 2020

Making Tax Digital Delayed For Landlords

Over the last few months, HMRC has made an announcement that they will not be introducing any additional tax requirements in 2020. This does not mean that the Making Tax Digital changes will not happen. HMRC has been clear that it will. It is merely a matter of a further delay to the implementation for […]

Read more October 9th, 2019

Our New Smartphone App

Shapcotts Accountants are proud to announce the release of our new smartphone app. The app is available on both iTunes and the Google Play store, please find links at the end of the article. The App gives you easy access to the latest news and updates for you and your business, as well as help […]

Read more May 31st, 2019

Changes To The Government Gateway

The government gateway that many businesses use to make online submissions for VAT Returns, EC sales lists, and CIS Returns is to be decommissioned on 14 February 2018. This will be replaced with a new platform. This change will affect some businesses using old software that currently integrates with the gateway to make online submissions. […]

Read more January 24th, 2018