The answer is in the cloud
With effect from 1st April 2019, HMRC required all VAT registered businesses with a turnover over £85k to submit their VAT returns using MTD compliant software. The solution for many has been to use Cloud Accounting software, this hasn’t just solved the MTD requirements but also has bought several benefits particularly to owner-managed businesses where the balance of working and home life is often more fluid. Therefore, unlike traditional office server-based systems because its internet based, cloud software packages can be accessed from anywhere with an internet connection, making life easier on the move.
Cloud accounting isn’t just for businesses registered for VAT, its anticipated in 2021 that HMRC will request further business taxes are submitted through compliant software.
It brings efficiencies in the way that we work with you, if there’s something you need help with, we can just log in, review and assist directly. When it comes to processing your year end accounts you would no longer have to submit spreadsheets, manual receipts and documents as the software can be used to capture it all. Bank Feeds can be set up, Invoices created and posted directly into the system using scans or photographs and OCR (optical character recognition).
If you would like to discuss how cloud accounting could assist you and your business, please contact us for more information.
Follow the links below to log into your accounts.