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So, to help small businesses in need of a little respite, we’re excited to announce that Xero’s Emotional Tax Return competition is back for 2022! . By inviting you – small business owners (that’s advisors too) – to submit an Emotional Tax Return claim. The hidden costs of running a small business in 2022.
We will automatically calculate Schedule 5 or PAYG tax and display the leave loading on the employees’ payslip. Map incomplete tax rates in Xero — Canada. If you have unmapped tax rates in Xero, the incomplete tax rates will now be grouped at the top of the tax rates page.
We’ve released a new 2022 Schedule C report template for advisors in the US. We’re rolling out enhancements to the job manager ‘All Jobs’ tab in XPM from 1 December 2022. Map different tax rates in Shopify — Global. Additional fields in Xero Tax — Australia. We’ll make the new 8% rate available in Xero by 9 December 2022.
Map your sales tax rates in Xero — Canada. Since expanding our coverage to support all federal and provincial sales tax return reports, we’ve been focused on improving your experience to make the process easier and more efficient. Document packs will go live in the UK on 4 October 2022.
Search and view tax rates in new invoicing — Global. US and Canadian customers can now search and view the numeric tax rate in new invoicing, rather than just the tax rate name. This will give you confidence that the tax rate you’ve chosen for each line item is correct. This change comes into effect from 6 November 2022.
Our teams have been busy adding lots of value across our platform over the past month, including enhancements to Hubdoc, short-term cash flow, tax updates in the UK and more. A new layout for the main forms in Xero Tax (Australia only) has been introduced to improve the way you find, navigate and add information. Company accounts tax.
Leaving Washington state, which in 2022 introduced a 7% tax on capital gains, could have saved Bezos $288 million in taxes after he unloaded $4 billion of Amazon.com stock in the past week.
Today, we kicked off Xerocon London 2022 and it was clear from the excitement and buzz at the event that our accountants and bookkeepers, app partners and exhibitors were as happy as we were to come together again as a community. Here’s a quick breakdown of some of the highlights from day one of Xerocon London 2022. .
It was the perfect location to reconnect with our valued accounting and bookkeeping partners, and share some exciting plans for new tools and features designed to make inventory management, bank reconciliation and tax management simpler and more seamless. Helping you navigate sales tax in the US.
From 25 July 2022 (22 August 2022 in Australia and New Zealand), the only fields that will sync between XPM and Xero HQ when a client record is edited will be first name, last name and date of birth. You can then generate a transaction with the contact, date, description, account code and tax rate automatically populated for you.
Rollover and merge pre-populated data in Xero Tax — New Zealand. When you create a new tax return for your clients, the prior year return’s worksheet entries will now be rolled forward and automatically merged with pre-populated data from the IRD. The post Latest product news — September 2022 appeared first on Xero Blog.
Starting from 1 July 2022, there are a number of government requirements that will impact how you manage payroll (including superannuation) for employees. It’s important to note too that from 1 July 2022, super will be payable to employees under 18 if they work more than 30 hours per week regardless of how much they earn.
There is so much to see and do at Xerocon London 2022 , from entertaining activities to inspiring keynotes, that it can be hard to know where to start. Making Tax Digital (MTD) has been the elephant in the room for a long time now. Here are five sessions to check out at this year’s Xerocon in London. .
We were honored to be on the ground at NABA’s Annual Convention last month as a sponsor of their 2022 scholarship program, which has provided over $375,000 in scholarships to their students. . This summer, I am working at Deloitte as a Business Tax Services Intern in their Chicago office.
Today, we wrapped up Xerocon New Orleans, the second of three Xerocon events we’re hosting in 2022. . The post That’s a wrap for Xerocon New Orleans 2022 appeared first on Xero Blog. Despite its name, Xerocon isn’t just about Xero – it’s really about our partners and community.
UK: Streamlined tax workflow and compliance We’ve made Xero even better with some UK tax enhancements designed to save you time and reduce errors. Plus, you can now set up and manage practice government gateway IDs for Xero Tax in one location. Relax and enjoy seamless compliance with the new regulations.
It will fundamentally change the UK tax landscape, but will ensure small businesses have the tools they need to become more efficient and succeed in the years ahead. It will also integrate with Xero Tax, making it even easier to share documents with clients. The post Product wrap from Xerocon London 2022 appeared first on Xero Blog.
That’s why we have prepared some resources to guide you through a frictionless payroll year end, and be ready for the start of the 2023/24 tax year. Preparing your final pay run Before you reach your final pay run for this tax year, there are a few important tasks needed to get you there.
Preparing the UK for ‘Making Tax Digital’ in 2024. The UK Government’s Making Tax Digital (MTD) for ITSA will impact up to 4.2 The post App Partners of the Month: Xerocon London 2022 special edition appeared first on Xero Blog.
That’s right, it’s time for a gentle nudge/firm reminder that your business must now comply with government legislation Making Tax Digital (MTD) for VAT. . Here, we break down some of the things you may not know about MTD for VAT, from software requirements, to benefits, to why it really is time to dive into tax digitisation. .
If you’re self-employed, chances are you look forward to organising and fulfilling your tax obligations as much as you would a particularly upsetting root canal. Before we dive into the intricacies of tax for the self-employed, it’s important to understand what actually constitutes being self-employed. . Are you self-employed?
Suddenly, it’s mid-2022. While here may not be the best place to ponder the ebb and flow of time, it is worth bearing in mind when assessing the April 2024 starting date for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA). How did that happen? . It may feel far away, but it’ll be here before you know it. .
Accountants can run payroll in a few clicks, automate taxes and keep every detail synced to the general ledger with our customisable integration with Xero. The post App Partners of the Month: Xerocon New Orleans 2022 special edition appeared first on Xero Blog.
From pandemic restrictions to Making Tax Digital (MTD), hospitality businesses have had to stay agile and adapt to many changes in the past few years. In this guide, we’ll look at what the government’s Making Tax Digital initiative means for your hospitality business in practical terms. A closer look at MTD for hospitality.
There’s no debating that tax season can be a stressful time for hardworking Americans, families, and small business owners each year. At the same time, for many, tax refunds are also the biggest check of the year, with more than 30% of Americans saying they rely on their tax refund to make ends meet—especially among Gen Z and millennials.
Act of 2022. The institute is asking the Treasury and the Internal Revenue Service for greater clarity in their proposed regulations for the SECURE 2.0
Candice shares her tips on how she kept The Green Man pouring, and ensured the pub achieved compliance with government legislation Making Tax Digital (MTD) for VAT. . She continues, “I’m now seeing the benefits of using technology to keep on top of finances throughout the year, so tax isn’t so scary at year end.” .
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