Making Tax Digital

In July, 2017 HMRC announced that all businesses and individuals will soon have to file their tax and accounting information digitally.


What does this mean?

By April, 2019 businesses above the VAT threshold (£85,000) will need to keep their records digitally for VAT purposes.

It is likely smaller businesses will be required to keep digital records shortly after. This changes the way HMRC wants information from tax payers and means that you may need to move from your existing desktop or manual record keeping and onto an Online accounting package.

The good news is we are certified in the installation and operation of Online Accounting software which is digitally compliant and specifically designed for small and medium sized business.

The even better news is that if you use our automated systems, your book keeping will just mean you take pics on your smartphone – we do the rest!

What are the advantages of going digital?

Digital accounting software has significant advantages over the traditional ways of bookkeeping.

Imagine if you could:

  • See a clear picture of your current financial position, in real-time;
  • Have your accounts 100% online, so there’s no software to install and everything is backed up automatically. Updates are free and instantly available;
  • Avoid upfront accounting software costs – upgrades, maintenance, system administration costs and server failures are no longer an issue;
  • Have your bank feed your data directly into your accounts on a DAILY basis;
  • Take a photo on your phone of a purchase invoice and it was posted automatically; AND
  • See your results, who owes you money, who you owe to and your business bank balance 24/7, 365 from your phone.

Some of our clients have already gone digital and they are delighted with the results, here are just a few of the comments we’ve heard:

Amazing, I can’t believe what a difference this has made to my business! All we have to do is take pics of our receipts and the book keeping is done!!
Trevor from Freelancer

We love the fact we can post invoices, check the bank and see who owes us money using the App on our phone!
Cathy from Design Mart

We never have to do back-ups of our system again! And the book keeping takes no time now
Rick from The Bike Shop

What can I REALLY do with digital accounting software?

  • Create and send invoices on the go
  • Track sales, purchases, debtors and creditors
  • Connect to your online banking
  • View a snapshot of your business
  • Estimate tax payments
  • Easy tax filing that matches HMRC requirements
  • Manage customers and suppliers
  • Create estimates, purchase orders and manage your stock

What does it cost?

We offer three packages that include initial set up, training and license fees all rolled up into an easy monthly price depending on your specific needs:

Monthly Package Includes Essential Accounting Full Accounting Premium Business
Cloud accounting software – Quick Books Online per month £10 £10 £10
Up to 50 Items per month – Book keeping £7.49 £7.49 £7.49
Up to 100 Items per month – Book keeping £14.99 £14.99 £14.99
Up to 300 Items per month – Book keeping £44.99 £44.99 £44.99
Over 300 items per month £98.75 £98.75 £98.75
Accounting & Banking software – Discounted subscriptions
Email and telephone support
Quarterly review of accounts for filing
Quarterly MTD & VAT filing £60 £225.00 £225.00
Quarterly Business Development Meeting – up to 3 hours £400.00
Management information at your fingertips
Follow up systems and business review
Set up your Cloud Accounting  system & first Yearend Accounts £850 < £150k turnover £1,200 < £600K £1,900 > £600k

How do we make the change?

As quickly as possible! All we need is a commitment to change and we will take you through a step by step process which means you will be up and running in no time AND we will:

  • Extract your existing data and upload this to your new digital accounting software;
  • Link your accounts to your bank account;
  • Enable Apps to your phone or tablet to let you work “on the go”; and
  • Demonstrate the system and show you how to get the most from your accounts.

Digital accounting is so simple AND it revolutionises the way you can access your information “any time and any place!”

Are you ready for the Digital Revolution?

Great – so let’s get started!