When you first load the spreadsheet, you’ll be presented with a welcome screen, and taken to the setup screen. This screen provides some important information about your spreadsheet and details of the features enclosed. Once you’re ready to start, click the ‘Lets Begin’ button. Finding your way around… This new…
This screen allows you to make some small basic changes to your spreadsheet to customise the system for use. You can choose a name for your business here – this will then reflect through the spreadsheet on reports. The standard name is ‘ABC Slimming World’, however you may choose to…
Your main dashboard provides an overview of the key areas of the software, as well as details of indicative tax, national insurance and Making Tax Digital information. Tip: You can quickly get to your dashboard by pressing the purple ‘Menu’ button at the top of any screen. Monthly Summaries These…
Buildings are not tax deductible, and therefore garden offices or extensions for the purposes of working from home cannot be claimed as a business expense. No relief will be provided for work spaces within domestic settings, such as home-offices HMRC Guidance, Allowances for Structures and Buildings, 2018 Although buildings are…
If you’ve noticed an error or omission from your tax return, or need to add something at a later time, you can amend your tax return. There are restrictions for amendments as well as timeframes. Changes must be made by the following January after the submission deadline. Tax Year Submission…
Put simply, bad debts are when you don’t get paid by a client or customer. It could be that you’ve provided a service and they fail to pay for whatever reason. Bad debts cannot be claimed as a business expense as consultants use the Cash Basis accounting system – this…
Details of the online HMRC Tax Return Forms
Form SA302 (Tax Computation/Calculation) is evidence of your earnings and used to show the calculations of Tax and National Insurance which have been used to prepare your tax return. If you’re a MalgraBooks Advanced or Premium client, you’ll receive a copy of this document before your return is submitted to…
Making Tax Digital is HMRC’s next major change to self employment which will require quarterly reporting on your business in respect of income, expenses and profit. The 21/22 Spreadsheet provides an overview at how this new service will work with a new MTD Service dashboard. You can access this through…
The relief group cover tables require the weekly group summaries for each group – this is located in a different section of Our World and is through the account viewer. The relief group section allows for input of up to 90 relief groups throughout the financial year. If you’re covering a…