Support to help you meet HMRC’s digital requirements
HMRC’s ambition is to become one of the most digitally advanced tax administrations in the world. A key part of this is its Making Tax Digital initiative. It is transforming tax administration with the intention of making it:
- more effective
- more efficient
- easier for taxpayers to get their tax right.
In practice, it means that every business required to submit information to HMRC will have to use digital accounting software sooner or later.
It is hard to argue with HMRC’s ambitions but we know that a digital tax and accounting setup isn’t right for every business. We work with our clients to minimise the disruption that the switch to digital will cause. Our aim is to get technology working for you not vice versa.
Our chosen digital accounting software is Xero, which has over 2 million users worldwide.
It’s the software we use in our own business and we know that it has plenty of benefits.
It is cloud-based so you can access it anytime, anywhere on any device with an internet connection. It means we can see how you’re getting on at any time and we don’t need to send files back and forth to each other. It also means you’ll always be using the most up-to-date version – no need to worry about upgrades or using outdated software.
It is designed with the small business owner in mind. There’s no accounting jargon and it’s intuitively set up so you can do everything quickly and efficiently. If you have any questions, we’re only a phone call away.
It has good reporting options. This makes it much easier to see exactly what’s going on in your business’s finances. It means we can spend less time pulling together figures and more time focusing on helping you grow your business.
It is secure. Xero ensures the highest level of security for your data, so you can be confident it’s safe.
For the vast majority of users, the cost of the subscription will be more than recouped by the time and effort that will be saved. You can use it to:
- send invoices and quotes
- enter bills and receipts
- reconcile bank transactions
- submit VAT returns to HMRC
- do automatic CIS calculations and reports
- see a short-term cash flow and business snapshot.
When you work with us, you’ll need to use Xero to do your figures. If you already use Xero, we will work with you to get ourselves set up on your system. If you don’t use it yet, we will take care of getting you set up and confident in using it. We will also always be on the end of the phone or an email if you have any questions.