Delay to MTD for Self-Assessment announced

HMRC has announced a postponement to MTD for ITSA until 2026

After much anticipation, HMRC recently announced a delay to the introduction of MTD for Income Tax Self-Assessment (MTD for ITSA). HMRC announced the delay for a further two years, with an anticipated start date of April 2026. 

Aside from the delay, HMRC also announced a new staggered approach whereas previously all sole traders and landlords with a turnover of more than £10,000 were required to record keep digitally and submit quarterly summaries of income and expenditure to HMRC. The main requirement was to submit quarterly via compliant software from April 2024. 

However, with the implementation now due to take place from April 2026, HMRC also announced a phased implementation: 

  1. From April 2026, all self employed and landlords with income over £50,000 will be mandated to join the MTD for ITSA scheme first.
  2. From April 2027, all with income over £30,000 will be mandated to join MTD for ITSA 

HMRC also announced that the MTD for ITSA requirements for Partnerships have been postponed until further notice. 

The changes come as the UK government understand the challenges facing businesses and self-employed individuals and therefore realise that the transition to MTD for ITSA is a significant change for all parties involved, meaning more time is required to ensure a smoother transition. 

So, what does this mean for you? 

We would still encourage you to implement digital accounting software now to allow for real time reporting and allow you to make more informed business decisions. Having access to your records digitally will allow you to have a full picture of how your business is performing and where efficiencies could be made. Digital accounting software is cost effective and will allow you to be familiar with the software ahead of the scheduled implementation of MTD for ITSA. Not only this, but the software can be accessed remotely, meaning our team can assist you in setting up the software and provide you with training so that you are familiar with how to use the software ahead of the new changes. 

If you would like to explore the options available to you, please contact us and we can help you with the next steps. 

Digital Accounting systems are more important than ever

Embracing the advantages of digital accounting will be business critical in the coming years

Digital accounting systems have become increasingly important for companies in recent years, and the COVID-19 pandemic further highlighted their benefits. These systems offer a wide range of advantages over traditional paper-based accounting methods including increased efficiency, improved accuracy, better security, greater flexibility, as well as better collaboration. As the world is moving towards a sustainable future where companies must set and achieve Net-Zero emissions goals, digital accounting systems play a significant role in measuring, reporting and achieving these goals.

We explore below a more detailed look at why companies should consider moving to digital accounting systems, with specific examples of how they helped businesses during the last few years and the importance in achieving Net-Zero emissions. 

Increased Efficiency: Digital accounting systems automate many of the tedious, time-consuming tasks associated with paper-based systems. This can save companies a significant amount of time and resources, allowing them to focus on more important tasks. For example, during the pandemic, many businesses had to quickly adapt to remote working, and digital accounting systems allowed them to continue their financial operations without interruption. Automated tasks such as bookkeeping, invoicing, and reconciling bank statements can be done faster, more accurately and with less human intervention than manual methods.

With digital accounting systems, companies can also automate their carbon accounting and reporting, enabling them to easily track, measure and report their emissions in a consistent and accurate way, which is crucial for achieving Net-Zero goals. 

Improved Accuracy: Digital accounting systems can help to reduce errors and increase accuracy by automatically checking for errors and inconsistencies in data. This can help to prevent costly mistakes and improve the overall accuracy of financial reports. During the past few years, the increased uncertainty and volatility in the economy has made accurate financial reporting more important than ever.

Digital accounting systems also provide real-time data access, so decision-makers can have a clear and updated view of their financials, enabling them to make more informed decisions. With digital accounting systems, companies can also ensure accurate tracking and reporting of their emissions, which is important for achieving Net-Zero goals. 

Better Security: Digital accounting systems offer a much higher level of security than paper-based systems. They use advanced encryption techniques to protect sensitive financial data, and they can also be configured to automatically back up data, so that it is never lost in the event of a disaster. With more employers offering home working to their employees, digital accounting systems provide an added layer of security for companies’ financial data. This is particularly important for companies that handle sensitive financial information and need to comply with data protection regulations.

Digital accounting systems also provide a more secure way for companies to store and share their carbon accounting and reporting data, which is vital for achieving Net-Zero goals. 

Greater Flexibility: Digital accounting systems are highly flexible, allowing companies to easily customize them to meet their specific needs. They can also be accessed from anywhere, allowing companies to work remotely or on the go. With many businesses adapting their working arrangements to offer hybrid working conditions, digital accounting systems have allowed them to continue operations remotely, enabling them to keep their business running even in the face of unexpected challenges.

The use of digital accounting systems is even more suitable for those organisations who offer hybrid working to their staff, enabling them to work remotely with full access to the accounting systems. This flexibility also enables companies to adapt and adjust their carbon accounting and reporting as they work towards achieving their Net-Zero goals. 

Better Collaboration: Digital accounting systems make it easy for multiple people to work on the same financial reports at the same time, increasing collaboration and reducing the risk of errors. This allows for more efficient and accurate financial reporting, budgeting, and forecasting, enabling teams to work together even when they are physically apart.

With digital accounting systems, companies can also collaborate and share their carbon accounting and reporting data across different departments and stakeholders, which is crucial for achieving Net-Zero goals. This can facilitate better decision-making and make it easier for companies to identify and implement emission reduction strategies. 


To conclude, companies that switch to digital accounting systems will experience increased efficiency, improved accuracy, better security, greater flexibility, and better collaboration. These benefits have proved to have been particularly valuable during the COVID-19 pandemic, as businesses had to adapt to remote work and an uncertain economy. The pandemic has shown a glimpse of how digital accounting systems can be of real benefit to organisations and this has certainly been a key driver towards digitisation for many organisations. However, this isn’t the only reason why digital systems are becoming more popular. As the world is moving towards a sustainable future with Net-Zero emissions goals, digital accounting systems play a significant role in measuring, reporting, and achieving these goals.

By adopting digital accounting systems, companies can continue their financial operations seamlessly, make more informed business decisions, and stay competitive in today’s digital landscape while also being able to effectively track, measure and report their emissions, which is key for achieving Net-Zero goals. 


If you would like to explore the options available to you, contact our Digital team and we can provide you with more information and how to get started. 

Glasgow Children’s Hospital – Alexander Sloan’s Charity of the Year

Alexander Sloan has named its Charity of the Year for 2023 and 2024

Alexander Sloan have proudly partnered with the Glasgow Children’s Hospital Charity for our ‘Charity of the Year’ for 2023 and 2024.

The Team at Alexander Sloan will be fundraising and volunteering throughout 2023 in support of the Glasgow Children’s Hospital Charity, an amazing charity which fundraises to ensure that every baby, child and young person treated at The Royal Hospital for Children in Glasgow receives the extra special care they deserve.

Every day more than 500 children come through the doors of the children’s hospital. The charity relies on donations to fund life changing equipment, support services and research at Scotland’s busiest children’s hospital.

We look forward to fundraising and volunteering to help children and families who need it most.

Our first fundraising event will be the Glasgow Kiltwalk taking place on Sunday 30th April 2023 where our team will walk 3, 14 or 23 miles. Keep your eye out for our fundraising page coming soon!

P11d – deadline

The deadline for submitting P11d forms is approaching

What is a p11d? 

The P11d form is prepared and submitted by employers and is used for reporting benefits in kind, such as private health care and company cars, that employees receive from your company in addition to their salary. 

The items listed on the P11d form can then be reported on their self-assessment tax return, or if they do not submit a tax return, it will be taxed through their coding notice. As an employer you must pay any Employers NIC (National Insurance Contributions) on these benefits as they increase your employee’s salary. 

Do I need to complete a P11d? 

The P11d forms must be completed by the employer, or if you are a contractor or freelancer and operate through a limited company where the company is providing the benefit, then you must complete the P11d forms yourself. The general rule for completing a P11d means that if your company pays for any items that an employee benefits from, this must be included on the P11d form. These include items such as: 

-company cars 

-private health insurance  

-childcare vouchers 

-travel allowances 

-other loans 


There are however some exemptions which now include business expenses paid personally by company employees. The expenses that no longer need to be reported on P11d forms include: 

-professional fees and approved subscriptions  

-business travel costs 

-business related entertainment costs 


When do you need to submit the P11d form? 

The P11d form is filed by the employer and prepared in line with the tax year, so the P11d for the period 6th April 2021 to 5th April 2022 must be submitted by 6th July 2022 and any Employers NIC (National Insurance Contributions) due must be paid by 22 July 2022 to avoid any penalties. 


What is the difference between a P11d and P11d(b)? 

Although the employer is responsible for preparing both forms, the P11d form is distributed to the employee and specifically states the employee’s details and the benefit in kind they have reported during the tax year. The P11d(b) form is what is submitted by the employer and summarises all employees P11d forms and declares the total NIC due, as well as the total taxable benefit the company has provided. 

If you are still unsure about your P11d requirements, please get in touch. 

The Energy Crisis – how we can help

Businesses need not feel helpless whilst energy costs continue to rise; through online resources there are ways to navigate this difficult time.

The Energy Crisis: How it happened and what we can do to help

As the energy crisis continues to unfold, many households are struggling to pay bills and stay warm as prices continue to soar as the UK rate of inflation reaches a staggering 9%. The energy crisis stems from the UK’s reliance on imported energy and our lack of storage capacity. This coupled with the reduction in supply from Russia has led to a shortage of supply throughout Europe, leading to increased demand and consequently a significant spike in price.

The COP26 meeting in Glasgow last year included an agreement by world leaders to commit to reducing emissions and many countries indicated an initial pledge to invest in renewable energy and implement Net Zero strategies in the years ahead. Although the UK has committed to investing in renewable energy and has made significant strides, there is currently not enough supply to meet energy demands and therefore entirely remove the need for fossil fuels.

As Accountants, we understand and can see that businesses have struggled through the last few years to return to pre-pandemic trading and now with the energy crisis at worrying levels, we are engaging with our current App partners to deliver meaningful solutions to our clients.

We understand the current issues that businesses face and within the last few years, we have partnered with Reducer to help support our clients. Reducer is an award-winning connected purchasing platform that partners with Accountants to help their clients.

Essentially, Reducer analyses your bills for key spend areas such as Gas, Electricity, Water, Waste, Broadband and Telecoms amongst others. Once Reducer has analysed your bills by comparing them against hundreds of suppliers, they will generate a report that outlines potential savings. Aside from highlighting savings, Reducer will also handle the switch for you, meaning you do not need to spend time contacting your current suppliers to switch providers. The best part is that it is quick, easy, and free.

If you would like to explore using Reducer, please contact us through our Cloud Accounting page and we can discuss the process.

Alexander Sloan celebrates DFK’s 60th Anniversary

The DFK network is celebrating its 60th anniversary this year.

Alexander Sloan is celebrating global independent accountancy association DFK international’s 60th anniversary. 

We are proud to be a member of DFK International – an association which benefits both the business and our clients. DFK enables us to support our clients to do business internationally, referring them to like-minded firms with similar values to provide a seamless service.  

The association provides us with a platform to share knowledge, ideas and best practice as well as information about the latest technology to ensure we remain at the forefront of the sector. It is also a pioneer in training and development, creating programmes to specifically develop young professionals in the industry as they progress in their careers. 

DFK International has 229 member firms which have a combined total of 441 offices across 93 countries. The association strives for equality, diversity and inclusion, promoting a culture that celebrates difference, challenges prejudice and ensures fairness. 

Martin Sharp, executive director of DFK International, said: “In 1962 the founders of DFK International envisaged setting up an association of independent firms that could support their clients to do business internationally and provide an alternative to the big networks which were being set-up. 

“Although DFK has grown considerably and the international business landscape has changed, the principles and ethos on which DFK was established still remain.  

“Beyond this, DFK provides a forum to share knowledge and best practice between like-minded individuals who are keen to support their clients and help fellow member firms.  

“We have a strong family atmosphere which has grown over the years to give member firms the opportunity to build relationships with people from different countries and different cultures. 

“This year we celebrate this success and look forward to continuing to build these relationships in the years to come.”   

To learn more about DFK International visit 


How can the use of Cloud Accounting software help save our planet?

The switch to paperless working is a key development in reducing reducing carbon emissions

With much of the focus recently on COP26, we are aware of ­the challenges our planet faces and the challenges ahead if we don’t act now. But is there more we can do as businesses to ensure we are ‘doing our bit’ for the environment?

We know that cloud accounting can help you access your financial data in real time, as well as streamlining business processes, but did you know it can also help reduce your carbon footprint?

When discussing the benefits of using cloud accounting software, one area that often gets forgotten about is the environmental benefit. With businesses looking to adopt more eco-friendly methods to demonstrate their commitment towards Corporate Social Responsibility, the use of cloud accounting software can help reduce the environmental damage, as well as improving company image and attracting investors. So how does this work?

Firstly, when switching to cloud accounting software, you are reducing your carbon emissions by essentially consuming less electricity (more on this later). The reason for this is due to using fewer servers and by using it more efficiently, whereas local servers would require managing as well as processing the data which leads to increased carbon emissions.

Secondly, by using online software you will be moving towards a paperless system which will allow you to change your financial processes to ensure you are using the software in the most efficient way. We are aware of the environmental impact of printing and overusing paper, however cloud accounting software ensures your invoices for example, are sent digitally via email, therefore reducing paper usage and allowing you to take advantage of the benefits of digital accounting. With many financial tasks now capable using online software, it has become a lot easier for businesses to move towards paperless systems.

One of the main contributors to CO2 emissions across the world are cars, but businesses can help minimise their employees commute and emissions by using cloud accounting software from home. The COVID-19 pandemic gave us a real example of how finance teams can continue to undertake their roles while working from home, if equipped with the right software. Due to its nature, cloud accounting software can be accessed from anywhere in the world with an internet connection. Therefore, it can be used in collaboration with many other communication and financial apps to ensure that staff can work from home and still collaborate with their team members and stakeholders. The use of online software, therefore, allows businesses to reduce transportation emissions by utilising software that is cloud based and therefore eliminates the need for teams to be working in offices and travelling unnecessarily.

Finally, did you know that using cloud accounting software can help reduce your electricity usage? Whilst conventional hardware systems require power sources, a large amount of upkeep and cooling facilities, moving towards cloud software can help you save money on energy. Through using software which is run on remote servers and stores data in the cloud, you can drastically reduce your energy usage by moving to the cloud. This not only reduces your electricity bill, but also helps reduce your energy consumption.

There is no doubt that businesses can use cloud accounting software to drastically reduce their carbon emissions and energy usage. There will undoubtedly be greater focus on how businesses can do more to curtail climate change and global warming concerns, but by starting to look at the accounting software and processes being used at present, it can easily be moved to a greener future with the level of advancements in cloud technology.

If you would like to discuss how cloud accounting can help your business, please contact us.


Autumn Budget 2021 – key points

On 27 October, the Chancellor set out his plan for government tax and spending for the year ahead in his Autumn Budget 2021

The forecast for the UK economy is one of strong growth that takes the country back to pre-covid levels by 2022 but that inflation is set to rise to 4% next year.  Below is a summary of the key points from the Statement:

Public Finance and State of the Economy 

  • According to Office for Budget Responsibility (OBR), Inflation is due to rise to an average of 4% next year 
  • UK economy forecast to return to pre-Covid levels by 2022 
  • Annual growth set to rebound by 6.5% this year, followed by 6% in 2022 
  • Unemployment expected to peak at 5.2% next year, lower than 11.9% previously predicted 
  • Wages have grown in real terms by 3.4% since February 2020 
  • Borrowing as a percentage of GDP is forecast to fall from 7.9% this year to 3.3% next year 
  • Borrowing as a percentage of GDP will then fall in the following four years to 1.5% 
  • UK Government projects Foreign aid spending to return to 0.7% of GDP by 2024-25 

Government Spending 

  • Funding will rise by an average of £4.6bn for Scottish Government, £2.5bn for Welsh Government, and £1.6bn for Northern Ireland Executive 
  • Levelling Up Fund will mean £1.7bn invested in local areas across the UK 
  • Government backing projects in Aberdeen, Bury, Burnley, Lewes, Clwyd South, Stoke-on-Trent, Ashton under Lyne, Doncaster, South Leicester, Sunderland and West Leeds 
  • Extra £2.2bn for courts, prisons and probation services, including funding to clear the courts backlog 
  • Tax relief for museums and galleries will be extended for two years, to March 2024 which means tax credits doubling for the Creative Industry 
  • Core science funding to rise to £5.9bn a year by 2024-25 
  • £6bn of funding to help tackle NHS backlogs 

Taxation and Wages 

  • Universal Credit taper rate will be cut by 8% no later than 1 December, bringing it down from 63% to 55% – allowing claimants to keep more of the payment 
  • Confirmation business rates to be retained and reformed 
  • A 50% business rates discount for the retail, hospitality, and leisure sectors in England in 2022-23, up to a maximum of £110,000 
  • Planned rise in fuel duty to be cancelled amid the highest pump prices in eight years 
  • Consultation on an online sales tax 
  • National Living Wage to increase next year by 6.6%, to £9.50 an hour 

Children and Education 

  • Schools to get an extra £4.7bn by 2024-25 
  • There will be nearly £2bn of new funding to help schools and colleges to recover from the pandemic 
  • Schools funding to return to 2010 levels in real terms – an equivalent per pupil cash increase of more than £1,500 
  • £300m will be spent on a “Start for Life” parenting programmes, with an additional £170m by 2024-25 promised for childcare 
  • A UK-wide numeracy programme will be set-up to help improve basic maths skills among adults 

  Air Travel 

  • Flights between airports in the UK nations will be subject to a new lower rate of Air Passenger Duty from April 2023 
  • Financial support for English airports to be extended for a further six months 
  • From April 2023, new ultra long haul band in Air Passenger Duty for flights of over 5,500 miles introduced 


  • Planned rise in the duty on spirits, wine, cider and beer cancelled 
  • Simplification of alcohol duties will see the number of rates drop from 15 to six 
  • Stronger red wines, fortified wines, and high-strength ciders will see a small increase in their rates 
  • Rates on many lower alcohol drinks including rose wine, fruit ciders, liqueurs, lower strength beers and wines to fall 
  • All sparkling wines to pay same duty as still wines of equivalent strength 
  • Lower duty on draught beer and cider from containers over 40 litres will cut the rate by 5% 


  • £24bn earmarked for housing: £11.5bn for up to 180,000 affordable homes, with brownfield sites targeted for development 
  • 4% levy will be placed on property developers with profits over £25m rate to help create a £5bn fund to remove unsafe cladding 
  • £640m a year to address rough sleeping and homelessness 


If you would like to discuss any of the points above, please contact us. 





The Future of Accounting, Apps and Automation

We have seen a seismic shift in the accounting sector which has led to a more dynamic, efficient, and progressive way of working.

There are several software providers who offer cloud accounting, Xero being a prime example.   Since the early 2000’s we have seen a change in the accounting sector which has led to a completely new way of working for many accountants.

Whilst there still are many who undertake a more traditional way of working, others have benefited from enhancing their staff’s skillsets and knowledge by delving into the digital world. This has not only given them an advantage over others, but puts them one step ahead in adhering to HMRC’s ‘Making Tax Digital’ requirements. The undertaking of cloud accounting software by accountants for those who wish to be at the forefront of emerging technologies has also paved the way for many to provide additional consultancy services through the use of real time accounting data. 

There is no denying the benefits of using cloud accounting software: anytime access, real time data and live bank feeds to name but a few. Aside from the features, the cost is another significant factor when deciding which software to use. Many clients have been faced with costly product upgrades each year as well as increased pricing. However, Xero for example, represents great value for money with a monthly rolling subscription, with no hidden extras. So, have you explored how Xero could work for your business? 

The coronavirus pandemic further highlighted the need for businesses to have a complete insight into their finances, whether it be up to date accounts to access government grants, or to ensure effective cash flow management. The requirement to have real time, robust financial data has never been so important. As businesses move to a hybrid working system, the need for cloud-based and accessible accounting software is now a requirement, rather than an option, to enable staff to continue their roles regardless of where they are based. 

We have seen a complete change in the methods used to perform day to day accounting tasks. Whether it be through a live bank feed in real time, or the utilisation of apps to enhance areas such as credit control. Cloud software now allows you to automate the bank reconciliation process by utilising bank rules for efficiency and automatic posting of journals. 

There is no doubt we are witnessing a change in the role of an accountant, driven by the introduction of new technology and regulations. Our clients deserve to be kept up to date with the latest technology which only helps them adhere to new regulations, such as Making Tax Digital. Many would argue HMRC have paved the way for a need to record financial records digitally, but was there already a shift to modern day accounting? 

Regardless of where digital adoption originatedwe are currently seeing a surge in interest from many businesses who require real time, accurate reporting. More so for cash flow purposes, but also to regain an understanding of where their business is positioned. The likes of Xero and its excess of 800 apps makes it a very popular option for businesses who want to delve into the modern way of accounting and ensure they have a complete, real time insight into their finances.  Gone are the days of receiving out of date management accounts, why not get on board with the cloud movement and reap the benefits too? 

There is no question that Xero is positioned at the top of the market with an average price of £20 per month, considerably less than many other rival software providers. Price, paired with its unlimited number of users and ability to build with the use of apps makes it even more appealing. 

Contact us for a free Xero demonstration and how you can benefit from using this software. 

Please contact our Cloud Accounting team to learn more. 

Virtual Kiltwalk 2021

Congratulations to all our Alexander Sloan team who took part in the Virtual Kiltwalk 2021 – and raised over £5,000 in the process!!

Over the weekend of 23-25 April, some of our team here at Alexander Sloan took part in the Virtual Kiltwalk Weekend, each person aiming to walk between 6 and 26 miles over the weekend.

Thankfully, the weather was beautiful and great for walking and each person averaged a whopping 19 miles – excluding all the extra miles clocked up by supportive family members and dogs!

With Scotland still in lockdown, unfortunately we couldn’t all join up but our team could be seen walking around Aberfoyle, Falkirk, Glasgow and even up Meikle Bin.

Congratulations to all who took part and we hope your feet and legs are recovering! A huge thanks also to all those who donated so generously.

Our team raised an incredible total of £5,182.50 – so a big thank you to all! The money raised will go to Alexander Sloan’s 2021 Charity of the Year.

This year, Alexander Sloan’s Charity of the Year is SANDS, a national charity providing support to anyone affected by the death of a baby.

To learn more about the charity and their work, please visit