Accounting

Reminder: Payday Filing From 1st April 2019

All employers must be payday filing from 1 April 2019. From 1 April 2019 employers will be included in one of the following groups for delivering their employment income information to IRD: The online group The non-electronic group The new employer group The Online Group Criteria Employers who withheld $50,000 or more of PAYE and

2019-03-21T13:33:22+00:00March 21st, 2019|Accounting|

It’s Almost Financial Year End Again

The end of another financial year is nearly here, so now is the time to put a few important things in place to make your annual accounts process easier and quicker. Bad debts: review your debtors and determine any bad debts. Physically write off these bad debts in your accounting software prior to close of

2019-03-08T08:40:13+00:00March 8th, 2019|Accounting|

The Beginner’s Guide To Depreciation

Understanding Depreciation Fixed assets are long-term assets that a business owns which are expected to be used in the business for longer than one year. They are often used to operate the business, such as machinery, buildings, equipment and vehicles. As you can’t deduct the cost of fixed assets from your taxable income as expenses,

2018-10-23T08:27:46+00:00October 23rd, 2018|Accounting|

Payday Filing

Payday filing became optional for employers on 1st April 2018, and it will be compulsory from 1st April 2019. Payday filing means filing your employment information on/after each payday instead of filing an Employer Monthly Schedule (IR348) every month. Key Points The due dates for your PAYE payments and methods of payment do not change

2018-08-30T10:17:14+00:00August 30th, 2018|Accounting|

What’s The Difference Between ‘Accountants’ And ‘Chartered Accountants’?

You may notice that our practice is called “UHY Haines Norton Chartered Accountants”, not “UHY Haines Norton Accountants”. Here at UHY Haines Norton there are a total of 26 chartered accountants on our staff – that’s over 2/3 of our professional staff! But what does “Chartered Accountants” mean and what’s the difference between that and

2018-08-20T09:24:14+00:00August 20th, 2018|Accounting|

The Beginner’s Guide To Profit And Loss Statements

Although you may think of your year-end financial statements as an annual exercise to keep the IRD happy, your statements are actually a valuable resource showing how your business is performing financially. They give you the opportunity to compare financial performance from the previous year and look at ways to improve future performance. Profit and

2018-08-07T09:16:06+00:00August 7th, 2018|Accounting|

The Beginner’s Guide To Understanding Your Balance Sheet

Your year-end accounts shouldn’t be just an annual exercise that you and your accountant go through to placate the IRD. They do, in fact, offer essential insights into how your business is performing and provide an opportunity to make changes to improve future performance. Balance sheets provide a snapshot of a business’ assets, liabilities and

2018-07-02T11:14:41+00:00July 2nd, 2018|Accounting|

Holiday and Statutory Pay Calculations: The Devil Is In The Detail

Tim Livingstone looks at the challenge employers are facing to calculate the correct holiday and statutory pay for their employees. To date there has been minimal media coverage over large corporates, local bodies and government departments being subjected to payroll audits on calculating both statutory and annual holiday pay. Incorrect holiday and statutory pay calculations

2018-06-27T10:37:48+00:00June 27th, 2018|Accounting|

Audit Shield: Protection Against IRD Audits

UHY Haines Norton is proud to offer our clients the opportunity to be protected from any unplanned professional fees resulting from audit activity with Audit Shield. The Audit Shield Master Policy provides for the payment of professional fees incurred in the event that you are selected for an audit, enquiry, investigation or review (audit activity)

2018-06-15T10:48:49+00:00June 7th, 2018|Accounting|

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