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HMRC make progress on digital tax accounts

HMRC have been rather quiet since the spring budget announced the advent of Digital Tax Accounts. But David Gauke, Financial Secretary to the Treasury recently said that things are moving rapidly, and we are aware that leading software providers are now actively engaging with HMRC on how they can work together. We welcome this progress, which has the potential to make things much simpler for small businesses.

Cloud software providers understand that, however simple they can make the process seem, accountancy is a specialized skill so they encourage small businesses to work with an accountant, which helps avoid the need for costly rectification down the line (a forthcoming blog will show the nightmare that can ensue otherwise). Even when systems can interface directly, we think that good accountants will still have a valuable role to play in helping clients, giving them peace of mind that their affairs are in order, explaining the tax system which, despite much rhetoric, continues to get more complicated and, possibly, continuing to take away some of the pain of dealing direct with HMRC.

In the meantime we’re helping our clients get ready so they can take advantages of the new efficiences when they’re available and we’re keeping an eye on all the key cloud providers in the market so that we can make informed recommendations.

 

 

Read more about David Gauke’s thoughts  at http://www.accountingweb.co.uk/article/gauke-we-are-listening-agents/589207 or if you wish to seek up to date advise on cloud accounting for your business, why not drop us an email at Lydia@Approachableaccountants.co.uk for a FREE consultation

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