It’s been a while since we talked about Making Tax Digital and all that goes with it – however the deadline has long passed and we’re all still standing!
The main consideration is making sure that everything we produce together is available in a digital format so it can be easily accessed, integrated, interrogated and submitted at any moment in time. Gone are the days when you would be asked to physically take your books to the VAT office for inspection!
But alongside the need for HMRC to have such a quick and easy insight to our finances are many positives. By working digitally we can extract much more information and focus on different areas of the business more readily. As your accountants, we are able to spend our time with you in a more advisory capacity, using our knowledge and experience to do the things that matter –
- helping to grow your business
- identifying the most tax effective ways of running your business
- making sure you pay as little tax as possible
- guiding you on your own unique situation and how best to account for that
- being on your side, helping you navigate change
So we are all for the digital era. Our focus is on streamlining the administrative side of things, making that as easy as possible with support from apps like Receipt Bank (photograph and submit your receipts in seconds) and accounting platforms such as Xero or FreeAgent (with direct bank feeds and lots of automated book-keeping tasks). And then overlaying that with our help in an advisory capacity. These are both highly practical and efficient ways of managing your accounting function.
Talk to us about either aspect of our role – helping with the digital transition or taking advantage of our many years of financial and business expertise. We are here to give you both – generously and supportively.