Sage 50 Accounts

What’s new in Sage 50cloud Accounts Version 27?

From 5th October 2020 Sage Version 27 will be available to all customers new and existing. With some of the biggest changes to the software in recent years such as the inclusion of the Custom Alert feature and improvements to user management tools now is the best time to plan your upgrade. We discuss some of the biggest changes coming to Sage 50 Accounts software in the latest version release below. If you’d like to upgrade your software our Sage...

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Making Tax Digital Phase 2

In April 2019, HMRC launched the first phase of Making Tax Digital, which affected thousands of businesses in the UK. The first stage of MTD was a ‘soft-landing’ phase with leniency given to businesses, to help them adapt to the changes. It was expected that from 6th April 2020, Making Tax Digital Phase 2 would commence but as of yet there has been no indication of this. Experts suggest that over 1 million businesses will be affected by the changes coming in the second phase of MTD. Digital Bookkeeping Businesses...

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Important Financial Dates for the Year 2020-21 to Add to Your Calendar

As a self-employed business owner or an employer, it can be difficult to juggle and remember the important financial dates throughout the tax year. These dates cover self-assessments, tax rate changes and key PAYE dates. With the deadline for self-assessment returns already passed (31st January) here are the main financial dates  for the year 2020-21 to add to your calendar if you are self-employed. 6th April 2020 The first day of the 2020-2021 tax year, this is the day when any scheduled...

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Self Assessment: A short guide for small businesses

January is a time to think about the goals and challenges you want to tackle for the coming year. For many SME’s this means getting ahead of the regular admin tasks that are part and parcel of running a business. As the New Year gets under way, it’s once again time to think about your self-assessment tax return. The deadline for paper returns has already passed (October 31st 2019) and the deadline for online submissions is looming (31st January 2020). Who...

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Sage’s 50cloud Accounts Software Roadmap 2019 -2020

Sage promises to offer the best user experience to customers using its accounting software by continually reworking and making improvements to its products. Each year Sage makes amendments and developments to its 50cloud Accounts software, so we’ve rounded up the latest changes from this year as well as those we can look forward to in 2020. Making Tax Digital The most notable additions to Sage 50cloud Accounts over the past twelve months have centered around the new Making Tax Digital legislation...

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Accounting and Payroll Round-Up 2019-2020

2019 was a busy year for changes to accounting and payroll legislation with the introduction of Making Tax Digital, as well as the announcement of new IR35 rules and the CID Domestic Reverse Charge. We’ve recapped the biggest changes to affect accounting and payroll professionals in 2019, as well as looking ahead at what we can expect from 2020. 2019 Accounting and Payroll Legislation Changes Making Tax Digital The first major change to accounting legislation happened in August, when HMRC...

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When to upgrade from Excel to a dedicated accounting solution

Although not a dedicated accounting software, Microsoft Excel has been a staple in the business application suite for a long time and is still widely used. A lot of small businesses and self-employed workers initially turn to excel to keep on top of their accounting requirements. Whilst Microsoft Excel has its benefits - it is fairly easy to use and readily accessible - it could actually be holding your business back instead of helping you move forwards. What happens...

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Making Tax Digital deadline fast approaching for charities

In August 2019, HMRC made the switch to digitilisation with its Making Tax Digital reforms for registered businesses with a taxable turnover above the £85,000 threshold.  The aim of these reforms is to make submitting VAT returns more effective, efficient and easier so that businesses can get their tax returns correct. HMRC allowed some charities an extra six-month delay period to prepare for Making Tax Digital, which will come to an end on 1st October 2019. The MTD regulations apply to all UK registered charitable trusts that...

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Preparing for the CIS Domestic Reverse Charge

HMRC’s new Domestic Reverse Charge (DRC) scheme has been delayed until October 2020, giving businesses more time to prepare. If you're not sure what this means for your business take a look at our short guide to the Domestic Reverse Charge or our earlier blog post here, Use the extra time to ensure that your business is ready. We’ve put together a checklist of things to think about before the changes take place. If you are currently registered under the flat...

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Sage Version 26 – what’s new for 50cloud Accounts in 2019?

The latest upgrade of Sage 50cloud Accounts - Version 26 - has been released with new and improved features to make your business accounting processes pain-free. Upgrade now to take advantage of the new features of Sage 50cloud version 26. With the release of Version 25, Sage announced that it would be focusing on adding more value to its Sage 50cloud Accounts software and limiting the features on Sage 50 Accounts. This has continued in Version 26 and so...

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