The FreeAgent Blog

Self Assessment filing for 2016/17 is live

Posted on 19 July 2017 by Roan Lavery - Jump to comments

Filing cabinet marked Self Assesssment with completed tax return pages marked filed

You can now file your 2016/17 Self Assessment return to HMRC, well ahead of the January 31st deadline.

You may be tempted to put it off for now, but getting your Self Assessment return out of the way will mean avoiding that lurching feel of guilt and existential despair that usually sets in around January.

It’s basically like getting back to the gym, but with the added bonus of not going to jail.

For our part, we promise to make the whole thing as painless as possible. FreeAgent builds much of your return from the data you enter over the year. When it comes to filing, you just need to check it over and add any other details we don’t know about.

Then file in one click and bask in the moral superiority that you’re a fundamentally better human being.

Until next time,
Roan and the team at FreeAgent

Making Tax Digital to be delayed

Posted on 17 July 2017 by Emily Coltman - Jump to comments

The government has announced that its plans for Making Tax Digital (MTD) - the initiative to transform the UK’s tax system and end the tax return - are to be delayed until at least 2020. Here’s what’s changing:

  • Only businesses with turnover over the VAT threshold (currently £85,000) will have to keep their records digitally, and then only for VAT.
  • They will only have to do this from April 2019.
  • Businesses will not be asked to keep digital records, or to update HMRC quarterly, for other taxes until at least 2020.

This news means that there will be at least a one-year delay for everyone, since MTD was originally due to start in April 2018 for businesses with turnover over £85,000.

Here at FreeAgent we’re keeping a close eye out for any further updates from the government regarding Making Tax Digital. We expect these to be included in the upcoming Finance Bill, now scheduled for publication in September 2017.

FreeAgent Mobile - now with Bills and Estimates

Posted on 10 July 2017 by Roan Lavery - Jump to comments

Our goal with FreeAgent Mobile is to help you nail those day-to-day admin tasks when you’re on the move, and we’ve just made that easier with new support for bills and estimates.

Mo bills, less problems

Unsurprisingly, you’ll find Bills in the Money Out section of the app where you can now view, create and manage the incurred costs you haven’t paid yet.

Oh and while I’ve got you, if you’re unsure about when to use Bills (don’t worry, people often are) then check out our article on bills, expenses & bank payments. It should clear things up nicely.


Easy estimates

If you find yourself with a potential customer and need whip up an estimate quick smart to win a job or project, then you’ll appreciate this one.

A new Estimates section has been added to the (shock horror) Money In section, where you can create, send and track estimates, right through to approval.

If you aren’t yet using FreeAgent Mobile then you can download that bad boy from the App Store of your choice:

Until next time,
Roan and the team at FreeAgent

Introducing CIS subcontractor support

Posted on 5 May 2017 by Roan Lavery - Jump to comments

If you work in the construction industry then you’ve probably heard of the Construction Industry Scheme. If you haven’t, you can safely ignore this article and enjoy those two minutes of your life back.

Still with me? OK, so CIS affects both contractors and subcontractors working in the construction industry. With this release, FreeAgent supports the obligations for subcontractors.

In practice this means:

  • Raising CIS invoices with the appropriate deductions
  • Automatically filing CIS deductions through payroll
  • Knowing how much you're owed from your contractor customers
  • Reconciling payments received with CIS deductions

To get started read our detailed guide on how FreeAgent supports CIS for subcontractors.

Until next time,
Roan and the team at FreeAgent

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