Xero

ALL YOU NEED TO RUN YOUR BUSINESS

At Fawcetts, we only recommend accounting software that’s right for our clients.

That’s why we’re happy to recommend Xero Online Accounting.

Xero Certified Advisor

Our Xero Online Accounting clients are among the 200,000 users in 100 countries worldwide, who find this secure, online accounting system makes managing their business finances much easier.

Benefits of Xero Online Accounting include:

  • it is cloud-based, with secure, easy access via the internet
  • Xero Online Accounting is simple to use
  • it directly feeds from online banking, reducing the amount of time you spend on data entry and reconciliations
  • Xero Online Accounting provides a view of cash within the business that is always up-to-date
  • we can log in whenever clients need us to check or review accounts, answer questions, give proactive advice and run reports, all in real time.

We are Silver Partners with Xero Online Accounting, which means we can pass on Xero Online Accounting discounts to our clients.

We don’t charge clients for setting them up on Xero Online Accounting and because our staff are accredited Xero Online Accounting trainers, clients can be sure they are in safe hands.

For more information about our Xero Online Accounting services, please click here to contact James Hayes or Nick Jones.

Back to Services

Request a callback
Latest News

Budget Statement 2015

Budget Summary

Fifty days before the General Election, Chancellor George Osborne today delivered his sixth and final Budget of this Parliament.

Introducing the package of tax and spending plans to the Commons, Mr Osborne said: “Today I report on a Britain that is growing, creating jobs, paying its way. We took difficult decisions in the teeth of opposition and it worked. Britain is walking tall again.”

He said that difficult decisions had been taken and insisted the country had to stay the course, with forecasts that Britain will be running a Budget Surplus in 2018/19.

Although to eliminate the remainder of the deficit, he conceded that significant cuts would still be needed, including a £13billion reduction in the budget of government departments and £12billion from welfare spending.


Key proposals

Mr Osborne said that this Budget came against the backdrop of rising employment, improving growth forecasts and falling debt.

Headline announcements included an increase in the personal tax-free allowance, the introduction of a Help to Buy ISA and pensioners being given the freedom to sell their annuities for a cash lump sum.

Following recent controversy over tax avoidance and evasion, there was a commitment to close loopholes, while the rate of the bank levy was also increased (which will benefit the Treasury by £900million a year).


Fuel duty

A fuel duty increase scheduled for September has been cancelled, meaning the longest duty freeze in 20 years. The Chancellor said that the measure saved families £10 each time they had to fill up their car.


Personal tax

27 million people will benefit from an increase in the personal tax-free allowance. This will increase to £10,800 next year and then rise again to £11,000 in 2017. This will lift four million of the lowest paid workers out of income tax altogether.

The Chancellor also confirmed an increase in the threshold at which people pay the higher tax rate. This will increase from £42,385 to £43,300 by 2017-18, above the rate of inflation.

Mr Osborne said he would cut 1p from duty on a pint of beer and two per cent from cider and scotch whisky. 


Business, enterprise and employment

Mr Osborne confirmed that in a fortnight’s time, the Government would slash corporation tax to 20 per cent – one of the lowest rates of any major economy in the world.

There was also good news for High Street businesses, with an admission from the Chancellor that the existing system needed far-reaching reform. Although precise details of what changes lie in store are not expected until the Autumn Statement.

Aside from a commitment to abolish the Class 2 National Insurance contributions for the self-employed during the course of the next Parliament, there was a further promise to abolish the annual tax return altogether. 12 million people and small businesses will benefit from the “simplified system”.

The Chancellor also gave assurances there would be support for all regions of the UK. He spoke of the need to build a “Northern powerhouse”, the creation of ten new Enterprise Zones nationwide and help for industries including the motor trade, film and local newspapers.

And changes were announced for Enterprise Investment Schemes and Venture Capital Trusts, ensuring they comply with the latest state aid rules.


Pensions and savings

The Chancellor announced four key reforms which he said would mean massive benefits for those with savings and investments. As was widely predicted, five million pensioners will be given access to their annuities, while plans to introduce a radically more flexible ISA were also announced.

Third is the creation of the Help to Buy ISA, this will mean that for every £200 a first-time buyer saves towards their deposit, the Government will top it up with £50 more.

Mr Osborne confirmed a new Personal Savings Allowance, that will take 95 per cent of taxpayers out of savings tax altogether. The measures, which take effect in April next year, create a tax-free allowance of £1,000 or £500 for higher rate payers. He hailed the move as the end of an entire system of tax collection.

There was also news that the lifetime pensions allowance would decrease from £1.25million to £1million.


Health

The Budget promised funding for a major expansion of mental health services for children (thanks to a £1.25billion investment) and more help for those suffering from maternal mental illness. These areas have previously been seen as under-resourced and Mr Osborne admitted that those suffering with mental illness had been “forgotten for too long.”


Charities

In a move that will be welcomed by many, a scheme that allows charities to automatically claim gift-aid on their donations is set to be extended –  from the first £5,000 they raise, to the first £8,000. Mr Osborne said that this would benefit over 6,500 smaller charities.

Elsewhere £75million in LIBOR fines was put aside for various good causes, including regimental charities, air ambulance services and the Church Roof Fund.


Tax evasion, avoidance and aggressive tax planning

A raft of measures was announced to tackle tax evasion and avoidance and Mr Osborne vowed that individuals and businesses who flouted the laws would be made to pay their “fair share.”

A new Diverted Profits Tax would tackle multinationals who attempted to artificially shift their profits offshore.  There will also be efforts made to close loopholes in Entrepreneurs Relief, changes to corporation tax rules to prevent contrived loss arrangements and confirmation that more Accelerated Payment Notices (APNs) would be issued in the year ahead.


Summary

With so many announcements leaked in the days prior, there weren’t many surprises in this Budget. But Chancellor George Osborne will be banking on his message of financial responsibility and increasing economic optimism striking a chord with the public. Summing up, he said: “Today I present the Budget of an economy stronger in every way from the one we inherited. The Budget of an economy taking another big step from austerity to prosperity.”


Official documents from George Osborne’s 2015 Budget Statement

||
  • "Fawcetts take a very professional approach via every point of contact. The management team would not hesitate to recommend the services of the Fawcetts team to any business regardless of size and industry"

    G Blamire - Salisbury
  • "Through personal experience i have experienced that the size and scale of a business is immaterial to Fawcetts - the commitment is always the same and they really make you feel as though you and your business matters. "

    Lou Whiting - Salisbury
  • "James has always gone beyond the traditional approach of just accounting for what we have already done and continues to help us develop our company in testing times."

    Steve Rawlins - Gosport
  • "Fawcetts provide excellent support tailored to our business needs. They are always available for advice and have a reassuring and professional approach that makes you feel as though you are their only client. "

    Brian Keane - Stockbridge
  • "I have been very impressed by the service and support I have received and I'm looking forward to working with Fawcetts to grow Travel Waves Marketing to the leading Marketing Services Company here in the South West."

    Claire Riches - New Forest
  • "We have been very impressed with the excellent high level of professional service and care that Custom Property Care Ltd have received from Fawcetts Accountants. They have dealt with all our needs efficiently and to a very high standard"

    Kelly B - Salisbury
  • "A breath of fresh air' - Straight forward, understandable, approachable, informative, good value accounting. Xero accounting is so quick & simple to use!! Thank you. I enjoy my side of the deal now!"

    Sue S. Devizes
  • "They are a modern and forward thinking company who love working with small businesses and start-ups; helping them grow online by offering relevant services along with pro-active advice."

    Jack McConnell - Bath
  • "James has been a huge help to me as I look to incorporate Creativemint, talking me through all the options, offering advice and helping me to feel relaxed and happy about the transition and services I will need."

    Miles Murray - Salisbury
  • "Nick has been a great help year on year providing my business with efficient services and ever useful and practical advice."

    Mrs Zanne St John Marchmont
  • "We have found Nick to have an exceptional ability to grasp the issues we have as a law firm operating internationally. He helped us to manage our set-up and has guided us as we grow, and is considered to be one of our most trusted advisors."

    Andy Leppard - Somerset
  • "We would have no hesitation in recommending Fawcetts for any accounting requirements and we look forward to many more years working together with them. "

    Jeremy Chalke - Salisbury
  • "I chose Fawcetts due to their excellent reputation. Whilst there are a number miles between my work base and my accountant; distance has never been as issue as they are always very responsive."

    Julian Bennett - Bournemouth