Essential and Advanced Reports – Unavailable on 20/21 October to make changes following Government u-turns

Our cloud spreadsheet software is really powerful and is used by around 850 consultants each year to keep their digital records up to date – ready to prepare for their tax returns and comply with HMRC rules.

In the background, we’ve a robust and complex system which crunches the numbers to provide indicative tax, national insurance and payments on account information so you can see how your business is performing.

Earlier this year, the Government announced the introduction of a new Health and Social Care Levy which would impose an additional 1.25% tax on income for individuals. We quickly reacted to the surprise announcement, and in less than a week had an updated reporting system showing accurately how this would impact our members.

Then in September, the Government announced that they would scrap the levy from 6 November 2022.

They also announced that there would be a cut to 45% income tax rates.

And just last week, they announced that they would now cancel this cut to 45% income tax rates.

As such, once again our reporting system is out of date – and requires even further work, oddly enough to take us back to what the world was like back in April!!

To make these changes to our system, and revert everything back in time, we’ll need to take down our reporting system briefly to make the necessary changes. As such, our Essentials and Advanced reporting system will be unavailable on Thursday 20 October and Friday 21 October to allow our team to remove the changes we’ve had to make to the system, so that once again we’re back to accurate reporting.

We’ve been hesitant to make these changes, especially with the announcement of a new Chancellor (and possible PM?), but will ensure that we’re up to date at least as of the end of the week.

Until the next announcement.. (during the Medium Term Fiscal Plan at the end of the month…)