Guest blog: MTD…worth waiting for?
Chatter about Making Tax Digital is picking up, but this is a situation where allowing compliance to drive change might put you behind the curve, rather than in front, notes Kevin Reed. The trundling (some may say stumbling) juggernaut that is Making Tax Digital saw some new information come to light in the last few […]
Don’t use MTD’s postponement as an excuse to delay practice transformation
If you turn on the news then you can’t help but be presented with small business owners who are incredibly concerned about their future. New research from Iwoca shows that a quarter of SMEs expect turnover to shrink in the next 12 months, while 43% of owners expect to be personally worse off by the […]
Xerocon 2022: Accountants want MTD managed… Is Xero Go key for their clients?
Our first face-to-face Xerocon in several years was fun and joyous, but the tone – while optimistic – was serious. Tobacco Dock, the venue for Xero’s big UK event, was far different venue to that of a hotel conference room. What were old storage rooms became pods for Xero’s app exhibitors (including Advancetrack); while the […]
Know your clients and know your practice, to know how to handle Making Tax Digital (MTD)
You may have heard of the term ‘KYC’, which means ‘know your client’. But what about ‘KYP’? And how does that relate to Making Tax Digital ITSA? OK, enough of the cryptic acronyms. We know that Making Tax Digital for Income Tax Self-Assessment (that’s the MTD ITSA bit) comes into force for the tax year […]
Efficiency and scalability – two sides of the same coin
It’s been quite a week for the accountancy profession. It’s been one in which (I hope) Advancetrack has played its part – and I hope some certainty has been provided to outsourcing as a critical part in the profession’s future. The second week of May saw what were the first ‘unrestricted’ major events for accountants […]
Who will benefit from Making Tax Digital (MTD)?
Who will benefit from Making Tax Digital (MTD)? Well, there’s an obvious answer…but I thought it a good idea to do a quick check. Using LinkedIn’s clever polling tool I put the question out there: ‘who will benefit the most from the introduction of MTD for the remaining self-assessment taxpayers?’. The options were: accountants; bookkeepers; […]
Turning MTD into a cloud accounting opportunity
We don’t really need to tell you that Making Tax Digital is well underway – it’s been at the forefront of most accountant’s minds ever since HMRC first announced their rollout plans two years ago. It has been the focus of most accounting events, many many talks, and countless webinars. But so far, there’s been […]