In our last blog, we asked the question ‘Is your technology holding your practice back?’
Now more than ever accountancy firms need to have the latest technology to enable them to work efficiently and give their clients the best service they possibly can.
So, let’s talk about Making Tax Digital (MTD)…
It’s part of the government’s plan to make it easier for businesses to stay on top of their day-to-day accounts. HMRC wants to be one of the most digitally advanced tax administrations in the world – improving efficiency, effectiveness, and ease of compliance. The plans signal a major change and the end of paper accounting for millions across Britain.
But what does this mean for accountancy firms?
It means that accountancy firms need the latest technology to enable them to ‘go digital’ and provide the best-in-class service to their clients.
Focus Technology provides the only specialist IT Support tailored for Accountancy Practices throughout the North West.
We understand the impact that Making Tax Digital will have on VAT, Self-Assessment and Corporation Tax Returns. We have supported many firms in getting their technology not only ready for Making Tax Digital but also making it more efficient through automation.
We are supportive of MTD and there are three main benefits to the programme:
· It helps SMEs to digitalise important processing – basic technology has been shown to boost business productivity with an average cost saving of £17,000 per annum
· Businesses that digitalise their accounting means they have more timely and accurate information, enabling better business decisions to be made
· Digitalisation makes it easier to share accurate information and those that adopt cloud-based technology can collaborate with advisors and colleagues more efficiently and professionally
Technology can be complicated, especially if you’re a non-techie person, that’s why here at FTS we can take the pain out of ‘going digital’ and we’re committed to making the transition painless and stress-free for every accountancy practice. We’re getting prepared right now, and making sure that all our customers are 100% MTD ready.
If you’re unsure of the process or the technology you need, get in touch or book a discovery call here