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We’re excited to announce that partnership tax has arrived in XeroTax. You can now manage most of your clients’ tax needs – corporate, personal, and ordinary partnerships – in one simple, secure platform. Your practice can now gain all the benefits of XeroTax across your ordinary partnership clients.
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.)
Welcome to our monthly roundup of what’s new in Xero. This month, we’ve introduced updates designed to help you to get paid faster, streamline tax rules and regulations compliance, and manage your sales tax with ease. These are just some of the updates that have rolled out in Xero this month.
We’re kicking off the new year with some exciting Xero updates designed to address some of the enhancements youve been asking for, and make things more automated to save you time. Xero automatically creates draft bills with key details, with the original document attached ready for approval.
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). Its been a massive start to 2025! In February , we shared enhancements weve made to invoicing.
With another tax year almost wrapped up, are you ready to tackle year-end payroll? Finalising your 2024/2025 tax 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.
Ellie Redfern , Enterprise Account Manager at Xero, recently spoke with Symon Barkway , a partner at the Xeinadin Sittingbourne office and the area managing partner of the North Kent region, on his journey with Xero and why he’s passionate about helping other accounting firms embrace change. How long have you been using Xero?
It’s part of Malaysia’s broader digital transformation strategy to promote transparency, reduce tax evasion, and improve the efficiency of financial processes. Cloud-based accounting solutions like Xero offer seamless e-invoicing capabilities, ensuring compliance with new regulations. Ready to embrace e-invoicing?
Payroll year-end is when a business finalises payroll records for the tax year. Think of it as closing out your payroll for the period: youre reporting to HMRC the total amount youve paid your employees and the deductions youve made, which is necessary admin before starting a new tax year. A step-by-step guide to year-end 1.
If you have a Xero Premium plan and have added a foreign currency to your settings page, then you can jump in and give it a go. Check out our reporting playlist on YouTube , visit the tips and tricks panel in our most used reports, or reach out to the team at Xero Central if you need support.
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. We have also introduced a new checklist within Xero Payroll to streamline your tasks and make it easy as we approach year end.
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. Find out more about this year’s Emotional Tax Return competition here.
You win, or you learn – that’s one of Tennick Accountants’ internal mottos, and one that encouraged the firm to put themselves in the running and enter the 2023 Xero Awards UK & Ireland. What we have done over the last 12 months, which ties back so much to the values of Xero, has been incredible.
We’re committed to continuously improving your invoicing experience in Xero. As a reminder, there are some important changes happening in Xero invoicing: Beginning the week of 2 September 2024 at 9am NZT, we will be defaulting users to the new version of invoicing experience on a rolling basis.
This EOFY in Xero Payroll will be slightly different than previous years. Check your employees’ records As part of STP Phase 2, there are key compliance requirements that affect the way employees are set up in Xero. These requirements involve changes to details in the Employment and Taxes tabs.
So it’s no surprise that many entrepreneurs lean heavily on a trusted advisor for support, particularly around busy times like EOFY when tax, compliance, payroll and other business obligations come into play. For those on the Xero platform, collaborating with your accountant or bookkeeper is simple via the cloud. EOFY 2023).
I was also really excited about one of the reasons I was on stage — to unveil the early release of Xero Go , a new mobile app we’ve developed to help ease the burden of financial admin for sole traders in the UK. Xero Go subscribers have all the tools they need at their fingertips. With around 2.6 A comprehensive partner plan.
It’s all part of our work to connect our practice tools, so that in the future, as you manage your clients’ tax obligations in Xero, the data flows seamlessly into our practice management tools. This will help you work more efficiently, collaborate with your clients more effectively, and manage everything for your practice within Xero.
Completing your EOFY is better off on Xero. Check your employees’ records As part of Single Touch Payroll (STP) , there are key compliance requirements that affect the way employees are set up in Xero. For more details on reporting categories, check out our guide in Xero Central.
Spending time educating yourself on Xero can help you get time back once you’ve built up your confidence. . You probably know by now that when you have a question about Xero, Xero Central is your first stop. But did you know it’s also your home for proactively learning about Xero? If you’re new to Xero, welcome!
Sempar Accountancy and Tax have been crowned the Xero Mid-size Firm of the Year at the 2023 Xero Awards for UK and Ireland. As a 100% Xero practice, Sempar is able to maximise the benefits of Xero’s software and other integrations for their clients. For those looking to enter the Xero Awards, “Just do it!”
With Stripe Link, credit card details can be securely saved and reused in the future for faster, smoother payments Unlock exclusive new workflows like e-invoicing , and if you’re in the US, a brand new automatic sales tax solution powered by Avalara This is just the beginning of what’s to come. Classic invoicing looks almost alien to me now.
The annual Xero Awards is a particularly special night for us at Xero. 2023 Xero Awards UK & Ireland appeared first on Xero Blog. It’s a chance for us to show our appreciation and admiration to the many incredible accounting, bookkeeping, and app partners in our community. The post Oh what a night!
We’re excited to be coming to a city near you with the Xero UK Roadshow, bringing you the latest updates in Xero. Whether you’re new to Xero or a seasoned expert, there’s something for everyone. Why not bring your team with you to experience being part of the Xero community? It’s a win-win all round!
Here’s what we’re doing to make it easy for you to manage this change in Xero. We’ll make the new 8% rate available in Xero by 9 December 2022. There are a number of areas where you can set default tax rates in Xero. If you have more than one Xero organisation, you’ll need to do this for each one.
At Xero, we are committed to helping Singapore small businesses simplify their accounting processes. And this is why we are thrilled to announce that you can now submit your GST F5 returns quickly and directly from Xero to IRAS in one click, making the filing process simpler. Save time and file accurate tax returns.
Know where your business stands at a glance The Xero Accounting app helps you stay productive while away from the desk, by giving you the key financial information you need on the go. You’ll also be able to save photos to your phone, update profile details, change your password in the app, and more.
We’re incredibly excited to share that Baker Tilly Canada has achieved Xero’s Platinum Partner status, which demonstrates the audit, tax and advisory network is helping to lead the way with the future of cloud accounting in Canada. The post Baker Tilly reaches Xero Platinum Partner status in Canada appeared first on Xero Blog.
Our Xero Small Business Insights report shows embracing digital tools can help small businesses accelerate their growth. . This is where the new Xero App Store comes into play. It even includes industry-specific capabilities for certain sectors, like calculating wine equalisation tax (WET) for wine makers.
The limited preview of US auto sales taxXero’s sales tax capabilities, powered by Avalara, will help you stay on top of what is a cumbersome sales tax process. Over time, we plan to expand this functionality across other areas of Xero. Here are a few of the highlights.
In my role as GM of Xero Go, I speak with sole traders, accountants and bookkeepers and have learned so much about the ups and downs of running a business solo. With all that in mind, this is why we created Xero Go, a free to download mobile app that helps ease the financial admin burden of running your own business.
When it comes to manual tasks, there are few that are more burdensome than sales tax. Automate your sales tax calculations in Xero Auto sales tax brings advanced sales tax management directly into Xero, helping you automate sales tax calculations, reporting and filing. But we have some great news.
Last year, we announced that we had started upgrading the technology that underpins the Xero platform, so our teams can build new features faster than ever before. Today, we’re excited to share that we’ve hit a significant milestone on that project when it comes to reporting in Xero. Start unlocking more value from your reports.
We’ve made some great progress towards creating a single source of truth for your client data across Xero Practice Manager (XPM), Xero HQ and XeroTax. One of the most common requests we’ve received in Xero Product Ideas is the ability to reuse contacts across multiple clients in XPM.
From April 2024, self-employed people and landlords earning over £10,000 annually, will need to follow Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) rules. . Xero’s 3-step ITSA academy has been designed specifically to help you prepare. Making Tax Digital is a great opportunity to modernise your practice.
This is a guest post by accountant Daniel Hardy of Xero Platinum Partner firm Caveo Partners. Earlier this month, Caveo Partners took to Xero’s social channels to ask small business owners which questions they wanted answered come tax season. How often should I see my advisor at tax time? . Good question.
Three years ago, they adopted Xero and migrated all of their clients across. . We talk to Scott about how Xero, especially the XeroTax feature, has helped the practice streamline workflows, reduce manual tasks and improve efficiency, enabling them to better serve their clients. . Challenging times. The right solution.
With another epic Xero Awards evening behind us, it’s time for us to reflect on the success of our accounting and bookkeeping community. Innovation is key Having all of Adams O’Rourke’s clients on Xero, Xero HQ is an integral part of how Joan structures the practice where she has a real-time view of client status and staff allocations.
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.
*Please note that while the process remains the same, all references to XeroTax are applicable to Australia and New Zealand only. One of the most important ways we’re helping you save time and grow your practice is by moving towards a future where Xero Practice Manager (XPM), Xero HQ and XeroTax will be seamlessly connected.
Contacts: If you’re connected to GoCardless in Xero, you can now initiate a mandate for a customer by clicking the overflow menu on contacts. eInvoicing (AU & NZ): If you are registered to receive eInvoices , you can now opt into receiving your monthly Xero subscription bills via eInvoice in Xero.
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