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The next phase of Making Tax Digital is coming. In April 2026, Making Tax Digital for Income Tax (MTD for IT) will be introduced, and its set to shake up the record keeping, reporting and tax requirements for self-employed people and landlords. MTD for IT filing will be available in all Xero business plans.)
Its been a massive start to 2025! We also heard your feedback, and so now you can automatically prepare partnership annual accounts and tax returns using Xero data and seamlessly file them with HMRC (read more in the previous edition of Whats New). In February , we shared enhancements weve made to invoicing.
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.
CPAs know the drill: taxes, compliance, rinse, repeat. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist. 📆 March 13, 2025 at 9:30am PT, 12:30pm ET, 5:30pm GMT
The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.
It’s part of Malaysia’s broader digital transformation strategy to promote transparency, reduce tax evasion, and improve the efficiency of financial processes. Phase 2: Businesses with an annual turnover between RM25 million and RM100 million will need to comply starting 1 January 2025.
With another tax year almost wrapped up, are you ready to tackle year-end payroll? Finalising your 2024/2025tax year Wrap up outstanding items Before processing your last pay run for the 2024/25 tax year, approve any outstanding leave requests, timesheets and overtime to ensure your employees’ final pay is accurate.
Bloomberg Tax & Accounting projects that inflation-adjusted amounts in the Tax Code will increase 2.8% in 2025 — roughly half the increase in 2024 and down from 7.1% in 2023.
New Zealand will introduce legislation this week that enables a digital services tax on large multinational companies, though the levy won't be imposed until 2025.
From those with no individual income tax at all, to those with complex tax structures a guide to most and least competitive states when it comes to individual income taxes.
This month, the Internal Revenue Service is predicting a rise in tax scams for 2025, and added four new eligible counties for foreign income exclusion.
The amount individuals can contribute to their 401(k) plans in 2025 has increased by $500 to $23,500, up from $23,000 for 2024, but the IRA limit remains $7,000.
Singapore Corporate Tax Update 2025: What Your Business Needs to Know Good news! Budget 2025 has introduced significant tax benefits to help businesses manage cash flow better. Our expert accountants deliver comprehensive servicesfrom bookkeeping to tax filingat transparent rates.
Tax season is about providing superior, high-value services to clients. That means doing everything necessary to make the experience working with you pleasant.
Minimum Corporate Tax Rate in Singapore 2025 As we approach 2025, small business owners in Singapore need to understand the implications of the minimum corporate tax rate and any updates in the tax landscape. This rate is stable, offering a consistent and predictable tax environment for businesses in Singapore.
These are some of the statistics reported by National Restaurant Accounting. This can result in less time or motivation to focus on numbers, accounting, and bookkeeping, even though these tasks are crucial for long-term success. Automation has revolutionized accounting in recent years, and it will continue to do so in 2025.
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How the 2025 Singapore Budget Can Support Small Business Growth Running a small business in Singapore is both exciting and challenging. The 2025 Singapore Budget introduces several measures to make your journey smoother, more sustainable, and financially secure. Tired of surprise fees from accounting services?
Tax season 2025 is fast approaching, and for bookkeepers and accountants, staying on top of the important corporate tax deadlines is the key to completing smooth filings for their clients. Example: If your fiscal year ends on December 31, 2024, your T2 is due by June 30, 2025.
Navigating ACRA’s Compliance Requirements for 2025 As a small business owner in Singapore, ensuring compliance with ACRA’s regulations is crucial for your companys legal standing and company incorporation. As of 2025 , this requirement remains in force. Discover our all-inclusive incorporation packages here.
Payroll year-end sees a business wrap up the tax year for payroll purposes. Youll also need to issue P60s to your employees and make any adjustments to tax codes for the new tax year. This is in contrast to your usual payroll which happens every payday usually weekly or monthly rather than just at the end of the tax year.
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.
Top Remote Audit, Tax, and Accounting Candidates This Week Are you in need of remote accountants? Our ‘ Always-On Recruiting ‘ program allows you to connect with highly skilled and experienced remote audit, tax, and accounting candidates without any upfront costs. Accountingfly can assist you!
Top Remote Tax and Accounting Candidates This Week Are you in need of remote accountants? Our ‘ Always-On Recruiting ‘ program allows you to connect with highly skilled and experienced remote tax and accounting candidates without any upfront costs. Accountingfly can assist you!
Start the Year Right: Creating a Business Growth Strategy for 2025 As a small business owner in Singapore, setting a clear and actionable business growth strategy for 2025 is essential to ensure long-term success. SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) ensure clear focus and accountability.
For remote workers, taking advantage of work-from-home tax deductions is important to have more money left over after taxes that can be saved, invested , or spent. There are the benefits of work-from-home tax deductions. However, remote employees can request tax-free reimbursements for work equipment and supplies.
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