Bank Feeds with Xero

Existing Xero bank connections with Barclays and  bank feeds set up using Yodlee, will no longer be available due to industry-wide standards soon to take effect. If you are currently using these feeds, you’ll need to change to new direct bank feeds where available. This will ensure transactions can continue to flow into Xero each day. New feeds are …

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Help with Childcare cost - ICOTAX

Childcare cost and help

Childcare vouchers have been a useful and well utilised tool for employers to support employees with their childcare costs. You can get help paying for childcare if it’s provided by a: registered childminder, playscheme, nursery or club childminder with an Ofsted-registered childminding agency registered school home careworker working for a registered home care agency This …

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Marriage Allowances - ICOTAX

Marriage Allowance

Marriage Allowance lets you transfer £1,250 of your Personal Allowance to your husband, wife or civil partner – if they earn more than you. This reduces their tax by up to £250 in the tax year (6 April to 5 April the next year). To benefit as a couple, you must normally have an income …

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Open Banking - ICOTAX

Open Banking

Open Banking includes the practice of securely sharing financial information electronically with customer consent. It was set up by the Competition and Markets Authority (CMA) in conjunction with the largest nine UK banks on behalf of the UK Government to bring more competition and innovation to financial services. Open Banking complies to PSD2. The second …

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Making Tax Digital - ICOTAX

Making Tax Digital (MTD)

The UK VAT system replaces manual processes with digital ones. HMRC’s new policies are designed to save time, reduce errors and cut the risk of penalties – so it’s good news for business in the long run.  Who’s affected?  It depends on the size and type of business operation. HMRC is doing a gradual roll …

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