Compliant flexible PAYE solutions for contractors & freelancers
Specialist limited company accountancy for contractors
Giving workers in the construction industry greater flexibility
Bringing you exclusive discounts, the best deals and offers
Company Rescue, Recovery and Closure Advice for Business Owners
Industry leading solutions for agencies
Why wait? Call or email us now to find out how we can help
Currently landlords and the self-employed submit an annual tax return to HMRC.
A new system is taking over in 2024. Making Tax Digital for Income Tax Self-Assessment (MTD ITSA) will mean more frequent submissions to HMRC. We’ve outlined the plans below. Read on to learn if you’ll be affected.
Contractors are running out of time to comply with HMRC’s new Making Tax Digital (MTD) initiative, which requires them to keep digital accounting records and use approved software to submit tax information to HMRC.
The first MTD deadline, for limited company contractors that earn over the £85,000 VAT threshold, is just a little over six months away.
From April 2019, these contractors will no longer be able to submit their VAT return manually with HMRC’s ‘direct tools’. Instead they will have to use HMRC-compliant software like FreeAgent or Xero to keep digital records and automatically submit their VAT returns.
FreeAgent is a class leading piece of cloud accounting software and it has got there through constant improvements and innovations.
We have attended a number of FreeAgent Partner events where the roadmap of future features and refinements has been shown and its comprehensive and far reaching with some really exciting developments ahead.
Rise of the robots
FreeAgent’s CEO Ed Molyneux took to the stage to deliver his keynote speech ‘Rise of the Robots: Accountancy at the Crossroads’, which examined the future of the profession in an ever-changing technological environment.
FreeAgent and NatWest have joined forces
FreeAgent were delighted to be joined by their new partners, NatWest at the conference.
CCO, Kevin McCallum, and Head of Business Banking at NatWest, Haydn Thomas, co-hosted a seminar on the new open banking legislation and what this means for the accountancy profession. They also took some time after the event to chat to AccountingWEB about financial technology for accountants - watch the video on FreeAgent’s website.
If you’ve tried it before and not got on with it or never installed it then now is a great time to pick it up for your smartphone and see the powerful list of features that you can control from a simple touchscreen.
With banking, tax notifications, time tracking and a slick new interface all added over the last two years since it’s launch the mobile app really does cram a lot of functionality into the App.
Open Banking is set to modernise bookkeeping for limited company contractors, with banking data integrated directly into online accounting software.
Umbrella.co.uk's limited company contractors all use FreeAgent’s cloud accountancy software to simplify their accounting. And with FreeAgent on the forefront of the Open Banking changes, bookkeeping is about to get even easier.
Open Banking is set to roll out to all FreeAgent customers soon, so we thought we would take an in-depth look at the changes and how they can benefit limited company contractors.
Cloud Accounting software provider FreeAgent has moved a step further in its integration with NatWest and now enables users to sign up with their existing bank logon details.
This provides quick, easy sign on that is also secure and provides flexibility under Open Banking for the Natwest customer to decide what information is shared with FreeAgent
FreeAgent and Natwest have been trialling the system with around 2,00 customers and it has proven to be extremely successful, hence the wider rollout.
Operations Director Neil Armitage said “Contractors are constantly on the go and under a lot of pressure so anything that can simplify their lives like this is more than welcome. Closer integration with banking partners such as NatWest can only benefit our customers and it’s great to see FreeAgent continue to innovate”
Cloud accounting software provider FreeAgent have seen their income soar by 41% to £8m for the year to the end of March.
As Umbrella Accountant’s provider of choice for contractors and freelancers FreeAgent reported a net loss of £2.9m for the same period, including share-based payment expense of £0.8m, as the group continued to invest in scaling its business (2016: £1.3m).
Accountex combines a world-class conference and exhibition dedicated to Accountancy Professionals. Umbrella Accountants are despatching Ricky Patidar to catch up on all the latest technology at the exhibition at the Excel Centre in London
Exhibiting at the show will be Cloud Accounting specialists such as FreeAgent, Sage, Receipt Bank, Expensify and Xero. We’re always looking to discover how cutting edge cloud-based platforms can make a difference to our clients – the more automation available and the more accurate the information the more time our contractors can spend away from their accounts.
FreeAgent continues to update its mobile app to bring the functionality more in line with the browser edition.
December brought some new features to the Mobile App, many of which may be of use to our clients;
The ever-popular Tax Timeline has been included within the App with the option to turn on notifications. This can help you to make sure you don’t miss any important VAT or Corporation Tax payments. Umbrella Accountants will continue to confirm how much is due and when but it acts as a good aide memoire in today’s busy work environment.
