January 2025 - Inside this issue

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‍Happy New Year and Welcome Back

We hope you enjoyed the beautiful sunshine and spent fabulous time with family and friends over the summer break. We are back in the office and ready to make 2025 the best year yet.

As we approach the end of the financial year, we also need to ensure we get all 2024-year accounts and tax returns finalised by the IRD due date of 31 March 2025. If you are yet to provide your records, please urgently send them in and contact the office. We also may be waiting on your signed accounts. We cannot submit them to the IRD until we have a signed copy and received payment.

As we step into 2025, we wanted to take a moment to express our gratitude for your continued partnership. Your trust and collaboration have been instrumental in our success, and we are genuinely looking forward to what we can achieve together this year.

We have some exciting plans and initiatives lined up for 2025, and we are confident that with our combined efforts, we will reach new heights. Your feedback and insights will be invaluable as we navigate this journey, and we are eager to hear your thoughts on how we can further enhance our collaboration.

Thank you once again for your support. Here’s to a prosperous and successful 2025!

Xero Plan Updates

In February, Xero will be starting the first batch of migrations from the old plans to their new plans. Changes will be as follows:

• Starter is now called Ignite. It was $33+GST- now $35+GST
• Standard is now called Grow. It was $71+GST - now $75+GST
• Premium is now called Comprehensive. It was $94 +GST - now $99+GST
• Ultimate will remain Ultimate. It was $104+GST - now $113+GST

GST cashbook plan will migrate over in September 2025.

If you are on a Monthly Instalment Arrangement (MIA) your monthly fee will not change for the 2025 Financial Year (until March 2025), however, if you pay for your subscription on a Time and Cost (T&C) basis, the new amount will be effective from 2 March 2025.

Dividends

It is dividend review time again. As usual we will be writing to all our companies who may be in a position to declare a dividend for the March 2025 year.

These letters will be sent out via our online signing platform, Annature; we ask that you please respond to this letter by the 12th February 2025 to ensure we can prepare, declare and file the dividends with the IRD prior to 31 March 2025.

There is a facts page sent with all letters, however if you are unsure, please contact the office.

March 2025 Scheduling

We are in the process of finalising the scheduling for the March 2025 accounts.

If you are on a Monthly Instalment Arrangement (MIA), a new MIA for the 2026 Financial Year will be issued to you in February. The engagement letter will also have the month your accounts are scheduled to be completed.  

For our time and cost clients, engagement letters will be issued from the beginning of March. We will be providing all time and cost clients with an MIA as we transition all clients to a MIA payment method.

If you have a preference to when your accounts are scheduled due to busy periods, holidays, funding or anything else please contact us asap here.

Please read through your engagement letter once it is emailed to you and send us back a signed copy.

Everyone will receive their annual checklist via a link in our new practice management system. It will have an online checklist to complete, which must be completed by all, plus a safe place to upload your documents which only Tael can access. We believe this will make providing your reports a more efficient and easier process for you.

‍If you have any questions or concerns for us, please don’t hesitate to get in touch with us.

From

THE TAEL TEAM

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