FreeAgent Update - Release Manchego
More new stuff and tweaks of the week:
Better Income Tax Estimates
Those of you running Limited Companies and on the payroll may have been seeing some slightly odd numbers for your income tax estimates for next year - this has now been fixed and the estimate should be spot-on now.
Better Corporation Tax Estimates
FreeAgent now uses the correct Corporation Tax rates as determined by His Former Lord High Chancellor of Her Britannic Majesty's Exchequer. Yes, him.
In other words a gradually increasing burden in the coming years - sad to implement, but it's there now. FreeAgent correctly apportions profit to the appropriate year and uses the published 20% rate for 2007 (and the proposed further rises to 21% and 22% in 2008/9).
Revised Support for Abbey CSV Statements and some OFX files
Some Beta Testers had been experiencing problems with uploading CSV files from Abbey and an OFX file from the Bank of Scotland. These have now been resolved.
Ordering of Transactions in the Statement View
Transactions on the same day are now shown with Credits first, so that spurious negative balances are not displayed. Of course, if the end-of-day balance really was negative, no amount of rearrangement will make it better, so we can't help you there...
- How MTD will work for businesses with an accounting year that doesn't match the tax year
- Important news for contractors - changes to IR35
- New tax year: what has changed?
- New VAT flat rate scheme rate for certain businesses
- Why the first week of April is the best time to switch to a new accounting system