This week we’ve learnt that HMRC has apologised to over 12,000 tax payers who were incorrectly given a £100 fine for non-filing of Self Assessment Tax Returns. HMRC’s blunder came about after 130,000 individuals were told they longer needed to complete a tax return.  Their tax affairs were simple and payments via PAYE were sufficient [...]

This week we’ve reflected on George Osbourne’s third unremarkable budget and highlighted five changes which contractors need to know about.  In addition, you can download the full budget factsheet here. Tax-free allowance to increase by £630 The personal allowance for employees under 65 will increase by £630 to £8,105 per year. The starting point for [...]

During the early hours of Saturday 2nd October inniAccounts will be off-line for essential maintenance. We expect this work to be completed by 8am at the latest. During this time you won’t be able to access the inniAccounts website, our online accounting service or our help centre.

We apologise for any inconvenience this may cause and thank you for your understanding.

As all contractors are aware, claiming expenses is a great way of reducing your annual tax bill, and when it comes to familiar items like business mileage, office supplies and client lunches the rules are pretty black and white: there’s no limit to the amount of genuine business expenses you can claim every month providing you’re familiar with HMRC’s guidelines. 

The hot topic on many contractor forums this month has been the news that, from 31st June, ClearSky Accounting has almost doubled its monthly subscription fee from £66 to £120. This hefty price hike applies not only to new customers but also to the current customer base (all of whom recently received a polite letter giving them the good news) and here in the inni office we’ve already switched a number of disgruntled ClearSky customers over to our online accounting service.

On Tuesday Chancellor George Osborne announced his emergency budget, which on the whole brings positive news for contractors and freelancers.  Here’s our brief summary of the pertinent points:

If, like us, you like to keep a watchful eye on the machinations of HMRC you’ll probably know that for the past few years they have been implementing an ambitious electronic filing system – in other words, a lot of the form filling you do for the tax man now needs to be completed online.

Traditionally, reporting is regarded as neither the most glamorous nor the most fascinating aspect of running a business, but it’s pretty important when it comes to keeping track of your financial information. At inniAccounts we don’t like to think of it as a necessary evil so we’ve launched a mini-crusade to make reporting sexy – or if not sexy, at least interesting, informative and easy to access – by creating our brand new Report Centre, which is now available to all Premium and Plus customers.

In our third post exploring inniAccounts’ new features we’re taking a look at inniAccounts Mobile: our brand new service for iPhone and Android users.

After the unbearable expectations set by our last blog post, we’re really quite excited to be able to give your a run down of the first of our brand new features today. So, without further ado, please allow us to introduce…(fanfare of trumpets)… LiveCash!