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Twelve years ago, Cherry Bookkeeping was built on passion, precision, and people.
Today, we’re proud to mark 12 successful years serving our clients and community. Thank you for your continued support and trust — here’s to many more years of working together. Big changes are coming for sole traders and landlords.
Under Making Tax Digital (MTD) for Income Tax, individuals with qualifying income over £50,000 will need to keep digital records and submit quarterly updates to HM Revenue & Customs (HMRC) starting from April 2026. Those earning over £30,000 will follow from April 2027. 🔹 What does this mean for you? ✔️ Digital record-keeping ✔️ Quarterly income and expense updates ✔️ An End of Period Statement ✔️ A Final Declaration to confirm your tax position The goal is to make tax reporting more accurate and up to date — but it will require new systems and good bookkeeping habits. If you’re self-employed or earn income from property, now is the time to review your processes, choose compatible software, and get comfortable with digital reporting. Need guidance on how MTD will affect you? We’re here to help you prepare with confidence. SOMETHING WORTH SHOUTING ABOUT
Yes, this February 2024, we are celebrating being in business for 10 years. That's 10 years of posting suppliers invoices, 10 years of reconciling bank accounts, 10 years (and more!) of Xero bookkeeping, 10 years (make that 20) of Sage bookkeeping. 10 years of tidy accounts and happy clients. If you would like to become one of our valued clients and receive the same excellent service, then do get in touch. We are here and waiting for you. Pauline & Laura Wishing you peace and joy for the coming year. Hope it brings you everything you are wishing for.
I'm often asked what sort of clients we work with. Well, we don't take on everyone that comes our way, we have to like each other and get on.
We are currently working with businesses in the following sectors, to name a few. To respect our client privacy, we don't name names. Engineering Construction Electric cars Relocation services Haulage Motor trade Beauty Office space What sad news that our beautiful Queen Elizabeth II has died. She was an ultra-reliable, steadfast, loyal and strong head of state but also a mother, great grandmother, a fashion icon and feminine to boot, whether she was wearing wellies in the pouring rain or dressed up to the nines.
Whether you were a royalist or not, you cannot ignore the fact that the Queen held our country together through thick and thin. She did not choose to be born into the Royal family or have a choice over 'doing the job' but it was a job she did wonderfully, and she did to the very end. Thank you for your service, ma'am, may you rest in peace. The Chancellor made his annual Spring Statement speech today where he set out the Government’s tax plan to support the UK economy, businesses and families in both the short and the medium term.
Key measures the Chancellor announced as part of the plan include: •an increase to the National Insurance Primary Threshold for Class 1 NICs and the Lower Profits Limit for Class 4 NICs from 6 July 2022, aligning it with the equivalent income tax personal allowance which is set at £12,570 per annum •from April 2022, self-employed individuals with profits between the Small Profits Threshold (SPT) and the Lower Profit Limit will not pay Class 2 NICs, while allowing individuals to be able to continue to build National Insurance credits •the Employment Allowance will be increased by £1,000 from 6 April 2022 to £5,000, which will benefit around 495,000 businesses •an immediate reduction in duty on diesel and petrol from 6pm on 23 March 2022, by 5 pence per litre, for 12 months. The full detail on all the measures, some of which are subject to parliamentary approval, can be found on GOV.UK. Let's see what the new year brings to us all. No more pandemics please. Wishing you all a happy new 2021.
Best wishes, Pauline. |
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