We are proud to announce that we have recently been awarded Silver Partner status by Xero, one of the leading online accounting systems used by businesses worldwide.
Online accounting systems have been revolutionising bookkeeping efficiency for some years and are known for making it more straightforward for time poor business owners to remain in control of their everyday finances, payroll and cashflow. Furthermore, with the introduction of Making Tax Digital looming, the importance of online accounting software has become even more significant.
It is of concern to us that many businesses may not be ready for Making Tax Digital as it becomes compulsory from 1 April 2019 for most businesses with turnover at or above the VAT threshold.
We learnt at a recent conference that HMRC believes up to 40 per cent of businesses currently submit their VAT returns through the HMRC website having made their calculations using spreadsheets or even paper formats. A lot of business owners are of the opinion that ‘digital’ means online filing, but this is not so. From 1 April, VAT registered businesses will be required to use MTD-compatible software to file their VAT returns.
Xero, our preferred online accounting software, is MTD compliant, which means we are ready to ensure all our bookkeeping clients are compliant as of 1 April 2019.
In order to gain our Silver Partner status, we were required to meet the criteria set down by Xero. These included achieving a minimum of two Xero certifications including an advisor certification, all of which proves our expertise in the software.
Xero is a total financial solution, offering helpful advantages to every business. It is the platform we prefer to use to manage all our clients’ bookkeeping tasks, and it also makes it possible for them to collaborate with us in real time, allowing us to share data and provide timely advice as soon as it is needed. We highly recommend Xero to any business looking to ready itself for Making Tax Digital.
For more information about Xero visit www.xero.com, and to discover how we can help you become MTD compliant, please get in touch.