We put online cloud accounting at the heart of our practice. If your accountant is still using old fashioned systems to work out accounts and tax, frankly, your business is losing out as well as not boding well for your meeting future HMRC digital requirements.
With TaxKings, there will be less paperwork, less filling out of forms, and the whole process of getting your accounts completed could be automated and carried out in real-time.
In short, your business needs to start thinking very seriously about finding an accountant and an accounting system that both meets the requirements of Making Tax Digital (MTD) and starts working for you.
Not only is it easier to have an all-digital approach to tax, but it can also help you better understand how your tax profile works. We utilise a range of tools to help you and your business go fully digital. Such services will help improve:
If you aren’t already mostly online, you’re missing out. Not only does a cloud-based approach save time, but it also reduces the amount of resources needed to carry out basic accountancy.
A well-established accountant will be able to view and handle your online tax account for your business to ensure that information is accurate and in the correct format for HMRC. Digital guidance also ensures your financial figures are giving you the best tax deal possible for your setup.
Not only is going digital convenient, it’s also cheaper. With fewer physical resources needed, TaxKings can provide dedicated services at a better price. To find out how much cheaper accountancy with us can be, get in touch today.
Here are the steps that you need to take NOW.
If your current accountant is still using paper files and out-of-date desktop accounting software, it’s time to change advisers. Find an accountant who’s tech-savvy and active in the digital space.
Switch your finance systems over to cloud accounting. Systems like QuickBooks allow you to much better manage your finances in the cloud, and will be compatible with HMRC’s digital systems.
Plugging a smart bookkeeping app, like Dext, into your digital accounting system will keep your accounting up to date, all your receipts and documents stored in the cloud and your tax data up to date.
Instead of waiting until year-end to think about tax, have regular conversations with your accountant about your tax position, what’s owed and where there’s potential to claim reliefs to save money. A forecasting app, such as Fluidly, will assist in this.
With these four key actions taken care of, you’ll be in a far better position once digital tax accounts become a mandatory requirement for your business.
Making Tax Digital has revolutionised how businesses across the UK view and understand their tax contributions. TaxKings is making it even easier with our users making the most of software solutions like QuickBooks, allowing our accountants to ensure that all information is correct, accurate, and in the correct format for HMRC.
TaxKings is paving the way to help make tax digital for businesses across the UK. If you have any questions about how this new transition might affect your business, or if you want to enquire about how our tax services may be able to assist you, please get in touch with the team.
