WE KNOW / the delay to Making Tax Digital shouldn’t delay you

As some of you may know there were plans by HMRC to introduce making tax digital which have been delayed until at least 2020 however, their plans to close the gateway for submitting VAT returns comes into force from 2019 and if you haven’t already, you will need eligible software to remain fully compliant.

The delay is welcome and gives us all a bit of breathing space but we believe that there are major benefits to be had through early adoption of cloud accounting systems in your business. There have already been a number of you who have converted and are loving it. I can’t stress enough how much this is going to influence your decision making and improve your business.

Let me start by explaining some of the key benefits and then I’ll explain how Robson Laidler can help.

Not many business owners have plans or targets set, let alone a reliable way to measure performance against those targets. Using software such as Xero enables you to see, in real time, the current results and to see if you are on target towards your goals. If not, early recognition lets you take adaptive action to get you back on track.

We can help you to discover your financial and personal goals. By driving down into what are your most important things and working with you, we can help you on your journey towards reaching those targets.

The next biggest benefit is time. One thing we can’t do (although we wish we could) is generate more of it. What can be managed though, is the amount of time you spend getting your accounting records ready. What if I could tell you that you could actually spend less time doing this but also get more from it than a tax bill? Sounds great doesn’t it? Well this is actually what is happening out there right now! There is even software that only requires a picture of a receipt to be taken and it is recorded in your records. Basically magic.

In summary, MTD should be embraced now but why not think of it as the MOVE TO DIGITAL?

At Robson Laidler Accountants and Business Advisors we want to take the next steps with you to unlock the true potential of you and your business. If you want to /know more, please get in touch.