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Top tips for Xero from Platinum Partner

As a Xero Platinum Partner we have assisted hundreds of clients over many years with the software. We feel well positioned to advise clients of any size from all industries on using Xero and have highlighted a few key features in this video.

Xero now has direct bank feeds from Barclays bank!

We first began using Xero, ‘the world’s most innovative growth company’ (Forbes 2015 & 2016) way back in 2009. Later that year Xero was the first cloud accounting software provider in the UK to introduce automated bank feeds, followed by aggregated bank feeds the following year. Back then most UK banks didn’t have the internal infrastructure to offer direct feeds, so aggregated feeds were the only realistic solution, although requiring more housekeeping.

Research and Development – Are you taking advantage?

The R&D scheme is a tremendously generous tax relief which can secure substantial tax repayments, even for loss making companies which have paid no corporation tax. The incentive is designed to encourage innovation and increased spending on R&D activities by companies operating in the UK.

Be prepared, the National Minimum Wage rises on October 1st 2016

As of 1st October 2016 the National Minimum Wage rates for apprentices and different age bands will increase. Last year HMRC investigated more than 70,000 employers and identified £10.3m in arrears for workers. Don’t be one of them.

The new NI number prefix is causing chaos for payroll departments BUT you can avoid these problems

HMRC have introduced ‘KC’ as a prefix for NI Numbers (i.e. KC123456A) however, they did not communicate this correctly to software providers causing FPS (full payment submissions) to fail.

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