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.
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.
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The Treasury’s coffers were boosted by £400m in 2016, following a crackdown by HM Revenue & Customs (HMRC) on tax avoidance.
The amount collected by the HMRC Counter Avoidance Directorate shot up by 80 per cent last year from £494m to £886m. Cracking down on tax avoidance has increasingly become a priority for the Revenue in recent years, as it has deployed strategies including the issuing of Accelerated Payment Notices (APNs), which must be paid within 90 days.
APNs alone have raised more than £3bn since their introduction in 2014, although 3,000 of the 60,000 notices issued so far were subsequently recalled by HMRC.
A spokesman for HMRC said: “Avoidance schemes are often highly contrived and almost invariably fall flat when trying to deliver a tax advantage never intended by Parliament.
“The fact is the majority of schemes simply don’t work and can put avoidance users in a significantly worse financial position that if they had never used the scheme in the first place.”
The crackdown by HMRC is set to continue in 2017, with provisions including tougher penalties for advisers who promote avoidance schemes set to feature in the upcoming Finance Bill.
Last autumn, dozens of celebrities and prominent individuals had penalties levied against them after they were linked to “Eclipse 35” avoidance scheme, involving Hollywood films. Some repayments amounted to several times more than the original investment.