The FCA have formalised the COVID resilience survey in to a RegData submission FIN073 Baseline Financial Resilience Report – required quarterly. Firms that will be brought into scope of FIN073 – which is most firms with a few exceptions – will need to be prepared to submit the return when it is due, from January […]
Payroll management is a critical aspect of running any business, and financial advisors are no exception. From tracking employee hours and calculating taxes to paying salaries and ensuring compliance with employment laws, the process can be complex and time-consuming. To effectively handle payroll for their employees, financial advisors need to be well-versed in several key […]
The Economic Crime And Corporate Transparency Bill The UK government has long been under pressure to tackle economic crime and increase corporate transparency by introducing legal reforms. The Economic Crime and Corporate Transparency Bill has completed its second reading in the House of Lords, so looks set to become law during the final quarter of […]
The UK has long been a leader in the world of financial services, being the seventh largest in the OECD in 2018. With a growing number of start-ups and small businesses getting involved in financial services, there’s also an increasing need for clear regulation and good governance. Do we need the Financial Conduct Authority? Until […]
Written by Julia Penny 15/03/2022 Companies House reforms will help combat economic crime, but micro and small companies lose options for abridged or filleted accounts and will have to report profit and loss (P&L) statements. Russia’s invasion of Ukraine is a humanitarian disaster, but it also reminds us of the potential impact of sanctions, anti-money […]
There are many reasons and each IFA has their own specific purpose in mind for their purchase. We have compiled a few of the main reason’s customers have provided as to why they made the decision to invest in the software: – Saves time – Ian at 365 Financial Planning said “…an excellent product and […]
Apply online Apply for a VAT number online because it averts the risk of an application going missing in the post and also HMRC quotes ten fewer days for dealing with online submissions – 20 days compared to 30 days estimated. Every piece of postal VAT correspondence seems to now go to the same address, […]
MTD for VAT will be extended to all VAT registered businesses from 1 April 2022, as set down in Statutory Instrument 2021/986, which was published at the beginning of September 2021. Even if you use a spreadsheet, the correct treatment of all VAT transactions is vital to ensure full compliance. Outside the scope Outside the […]
From April 2022, all VAT registered businesses will need to comply with Making Tax Digital irrespective of their annual turnover. This will be a significant change for very small businesses who currently prepare their accounts and taxes manually, as the digital links requirement will apply to these businesses also. Digital links: What does it mean […]
On 21 January 2021, the FCA published a press release announcing that 50% of firms who have previously submitted their regulatory reporting on Gabriel are now using RegData. The FCA stated that it will continue to move firms across to RegData over the next few months and urged firms that are still using Gabriel to […]