While the government is reported to be planning to take a soft touch to initial reinforcement, its Making Tax Digital process is inexorably taking place. For many businesses, that means ensuring that your tax recording and reporting is all taken online, in the coming months.
For any business, large or small, that is still working off a historic accounting system, the move to Making Tax Digital is all the incentive you ever needed, to migrate your accounts onto one of the newer financial management systems. And the latest of these do away with the traditional, computer-based software, and instead use cloud-based systems, with easy access from any computer that has an internet connection and a web browser.
Making Tax Digital doesn’t have to be scary
If you think this process still appears daunting, fear not! There are experts on hand to help you with the transfer, to train you up to make the most of a new system. And at Timewise VA, we are ambassadors for Xero, a great online accounting package that is simplicity itself.
All you need is a hand to get you lined up with a new system, and once you’ve migrated your accounts and bookkeeping, you’ll be amazed by how much easier life is. Not only will you save time, you’ll have much better visibility of your cashflow.
You’ll find it easier to provide your accountant with the information they need, to file statutory information in a timely manner. And you will be in a position to easily outsource workload, should you need to, in order to improve your organisation’s operational efficiency.
How can we help?
At Timewise, we help a wide range of clients with their bookkeeping, using Xero and providing them an on-demand support service. A cloud-based system enables all those involved with the business to see the state of the finances in real time, from wherever they are sitting.
The other great thing about moving to Xero, is that the cloud-based system is constantly being updated to ensure it complies with every upcoming change to taxes, reporting, and other regulatory modifications.
With the Xero development team being in close contact with HMRC, you can be sure that the system will provide the information you need to report, in precisely the appropriate format.
All of which means your bookkeeper and accountant have more time to provide you with a better service, and higher quality advice.