May Newsletter | 2025
Welcome to our May newsletter! As we move into the warmer months, the DS Business Support team is excited to bring you the latest updates from the world of bookkeeping and financial management. As your trusted bookkeeping partner, DS Business Support wants to keep you informed about the latest developments in financial software and regulations. Here's what's new this spring:
Key Reminders
1- Complete your biometric verification if you haven't already
As your award-winning financial partner, we've upgraded our security with cutting-edge biometric verification technology. This modern system matches your photo ID with a real-time selfie, providing bank-grade protection against fraud and identity theft. As we handle sensitive financial data, this verification isn't just about meeting AML regulations—it's about delivering the highest level of security for your business. The process is quick, simple, and as easy as unlocking your smartphone. Complete your verification today to ensure uninterrupted access to our comprehensive financial services while maintaining the security standards you deserve.
2- Review your tax codes for the new tax year
Reviewing tax codes before the new financial year is crucial to prevent unexpected tax bills and maintain accurate payroll. As your award-winning bookkeeping partner, we ensure your codes reflect current allowances, personal circumstances, and multiple income sources. This proactive approach keeps you compliant and your cash flow predictable. Although as part of the payroll process, we check these on a monthly basis - at times, a tax code will reach you sooner than it reaches us.
3- Check your MTD compliance status
As your Xero Silver Partner, we emphasize the importance of checking your Making Tax Digital (MTD) compliance status. With HMRC's digital requirements constantly evolving, ensuring your business meets MTD standards is crucial. DS Business Support helps verify your digital record-keeping, software compatibility, and VAT submission processes meet current regulations. Please ensure you are also up to date on the new MTD changes coming in from April 2026
4- Update your payroll software for the latest rates
Keeping your payroll software updated with the latest rates isn't just about compliance—it's essential for accurate employee payments. As your award-winning payroll partner, we ensure your BrightPay software reflects current National Insurance thresholds, tax codes, and pension contributions. Don't risk costly errors or HMRC penalties through outdated rates.
HMRC Updates
Recent changes from the latest Employer Bulletin include:
- Updates to National Insurance thresholds
- Changes in reporting requirements
- New guidance on employee benefits and expenses
- Updates to tax codes and allowances for 2025/26
- P60s deadline: 31st May 2025
These updates enhance our ability to process your bookkeeping more efficiently and ensure better compliance. If you'd like to learn more about how these updates affect your business, please contact our team at DS Business Support. We're here to help you make the most of these new features and ensure your financial records remain accurate and compliant. Phone: 0117 235 4699 or email: info@dsbusinesssupport.com