Key News and Insights
Updates on accounting, tax and business development.
Trusts - The Big Picture
A will sets out how your assets should be dealt with in the event you pass away. A trust can survive beyond your death, hence it is important that they continue to function and operate as you intend.
The Depreciable Asset
Inland Revenue has recently issued a draft interpretation statement that provides essential guidance on how to correctly identify what the asset is for depreciation purposes.
Xero Plan Changes (2024)
From 12 September 2024, Xero will be introducing some changes to their plans and pricing. Current plans will no longer be available after this date but for those who already hold a Xero subscription, there will be no further changes to your account until 2025.
We’ll be in touch before we make any change to your plan, and will ensure that you have a minimum of 60 days’ notice before your plan
is moved. We will also be in touch to discuss your options in relation to changes to add-ons that may affect your subscription plan.
Smartly Deals
PKF has teamed up with Smartly to offer a great deal on payroll services for our small to medium business clients. Smartly provides one
system for sorting your payroll and people admin. Linking directly to Xero it is a great tool to streamline and simplify your payroll
processes. Smartly offers two options, DIY payroll and fully managed payroll.
Automation and accounting
All too often we get into a routine without stepping back and considering why we are doing things. The same goes with our accounting systems and processes. Your finance team is probably busy keeping on top of their day-to-day workloads but has consideration been given to how productivity can be improved through the use of readily available software?
Government reverses interest deductibility limitations
With the new Government now firmly settled in, legislation has been passed which reverses the interest deductibility limitation rules that were introduced by the previous government in 2021.