How can a Xero health check help you?

Did you know that we can perform a ‘Health Check’ on Xero accounting records? The result of our work is a report detailing areas for consideration and suggestions to improve the records, save you time and aide your business management.

What we do:

1. We check that the set-up of your subscription is in line with the needs of and our expectations for your business 2. We review your Xero data for consistency or potential missing information 3. We suggest areas for improvement in data quality or automation

We split the Health Check in to two parts:

Initial discussion and scope We will discuss with you: your use of Xero, your business and any other aspects that may impact the Xero data. We will use the information gathered to help us tailor the outcomes of your Health Check. Data-check and report compiled We will run our checks and complete a written report detailing our findings, suggestions for improvements to the data or use of apps, and a conclusion on the overall health of your Xero records. If you think you could benefit from a Xero Health Check please contact xero@albertgoodman. co.uk or speak with your usual AG contact. Clare Blackmore Director of Cloud Accounting

clare.blackmore@albertgoodman.co.uk

HAVE YOU GOT A PERSONAL TAX ACCOUNT (PTA)?

Although we may look after your tax affairs, including your annual tax return, it is still a good idea to set up a PTA for yourself which enables you to:

• Check your state pension and history of

National Insurance contributions - this is really useful and enables you to see your National Insurance record which counts towards your state pension. You can see how many qualifying years you have recorded and if there are any gaps. If there are gaps then it may be possible to make voluntary contributions to buy in extra years.

• Report a change in circumstances for tax

credits - if you have tax credits you can quickly and easily report changes to HMRC through the PTA to ensure that you receive the correct amount of tax credits and do not end up running up over or underpayments as your circumstances change.

• Check your PAYE details - if you have employment income you can use the PTA to check the details of your employment, pension and other income information which HMRC holds and correct anything that is wrong as well as view details of how your tax code has been worked out. You can also claim tax relief for home working, which will be relevant for a lot more people as a result of the pandemic.

To set up or access your PTA visit www.gov.uk/personal-taxaccount

Paul Hake

Partner