Anti-money Laundering: A New Battlefield For Accountants?

Posted by Capium on May 30, 2019 4:08:16 PM

Anti-money laundering (AML) checks have long been part-and-parcel of the profession, but there are signs on the horizon that AML compliance will be a battlefield for accountants.

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Topics: Tips and Advice, Updates, business, Online Accounting, Tax guide small practice, Whitepaper

How to Help Your Small Business Clients with MTD Preparation

Posted by Capium on Jan 24, 2019 12:04:03 PM

Making Tax Digital (MTD) means more admin for accountants and clients, alike. A significant challenge we discuss in our regular meetings with HMRC relates to helping small businesses cope with the increased workload.

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Topics: Tips and Advice, Accounting for Small Business, Cloud technology, Making Tax Digital, MTD

7 things you need to look out for in MTD-compliant software

Posted by Capium on Oct 30, 2018 10:36:06 AM

Having the right software in place at the right time is key to Making Tax Digital (MTD) success – for both accountants and clients. After all, more frequent return submission means more information to process and a more significant workload, and the right technology helps keep processes efficient, profitable and secure.

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Topics: software, Tips and Advice, Digital Tax Guide, Online Accounting

Be a smart accountant, be a connected accountant

Posted by Capium on Oct 22, 2018 12:01:39 PM

Making Tax Digital (MTD) requires a dramatic shift in how accountants and their clients process financial information – both mindset and operations need to change to make MTD work in an efficient, profitable way. It’s time to shake off the shackles of being chained to legacy systems in a time where digital taxation is innovating to keep pace with other industries revolutionised by tech.

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Topics: Online account software, software, Tips and Advice, tax, Tax guide small practice, tax tips

"How do I communicate with clients about MTD?” [Accountant FAQ]

Posted by Capium on Oct 17, 2018 3:05:29 PM

Answers to frequently asked questions accountants often ask us about Making Tax Digital (MTD). This first FAQ is one of the most common, especially given that VAT is going digital starting in April 2019.

From all the industry discussion and HMRC guidance, we know that MTD needs to be a collaboration between accountants and companies. After all, accountants are reliant on regular data from clients, and there needs to be ongoing communication to comply with more frequent submission requirements.

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Topics: software, Tips and Advice, Online Accounting, tax, Tax guide small practice, tax tips

All You Need to Know: Depreciation of Tangible Fixed Assets Under FRS 15

Posted by Capium on Aug 16, 2017 1:59:06 PM

Depreciation – What is it?

The literal meaning of depreciation is the reduction that an asset undergoes in terms of its value over a period of time. This is particularly related to the wear and tear of the asset. In accounting, depreciation is one of the most important phenomena when it comes to calculating the value of an asset. Depreciation, in accounting, is a method where the cost of the asset is allocated over the time it would remain useful. Businesses need to depreciate their tangible fixed assets for accounting and tax purposes.

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Topics: Blog, Tips and Advice, Business Accounting

Accountants and Risk Management of the Businesses

Posted by Capium on Aug 4, 2015 1:25:30 PM

For those of you who don't think it's important to hire an accountant to manage the future risk of your business in today's difficult economy, Capium would like to let you know that you are sadly mistaken.

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Topics: Tips and Advice, Business Accounting

End of Annual Tax Returns - It's an end to filing of annual tax returns not the end of tax!

Posted by Capium on Apr 20, 2015 10:46:47 AM

The change that we all saw coming for the past decade or so has finally happened; annual tax returns will soon be a thing of the past! What's that you say? We don't have to file our taxes anymore? Do we still have to pay taxes or are they going away as well?

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Topics: Tips and Advice, Business Accounting

Time for Automated Cloud Payroll

Posted by Capium on Apr 9, 2015 9:15:43 AM

The days where an accountant would spend countless hours filing paperwork, creating payroll sheets and analyzing them until the wee hours of the morning are long gone. As technology and automation work together to help today's accountants become more efficient, more effective and, of course, much more punctual, accountants seem to have it easy. Sure, they still shoulder the brunt of a company’s financial stress and one small error could lead to a much larger headache later on if left unnoticed, but cloud payroll technology is certainly paving the way to make the life of an accountant much easier than ever before.

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Topics: Tips and Advice, Business Accounting

Understanding Corporation Tax

Posted by Capium on Feb 26, 2015 2:33:30 PM

Corporation tax isn't as complicated as many people think and having a full understanding of it is important if you want to take full advantage of it and follow the regulations set forth. First, you have to understand that, unlike a sole trader or a partnership, a limited company is the only business that pays corporation tax rather than paying income and capital gains tax and it is payable on the net profit of the company.

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Topics: Tips and Advice, Business Accounting

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