With the introduction of Making Tax Digital, most VAT registered traders will have to keep records using compliant software from April 2019. Although this is a soft landing period, business owners shouldn’t be complacent and should act now if they want to get to grips with digital accounting and make the most of the many benefits it offers.
A key tool that Haines Watts is using with clients to help them with compliance for MTD and beyond is Xero. Here’s a quick run through of the advantages of using this cloud-based accounting system:
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Helps small businesses improve efficiency and become paper-free;
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Saves time producing professional looking documents and avoids the risk of duplicating work;
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Compliant with HMRC MTD legislation;
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All documents are backed up in the cloud, with the reduced risk of data being stolen or lost;
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Integration with 700+ applications to cover all industries.
Haines Watts are proud to have been a Xero Platinum Partner since 2014. This relationship enables us to:
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Service and support clients with queries;
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Work with clients to provide bespoke implementations and training;
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Suggest business specific integrated applications;
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Train business owners one-to-one and offer group sessions to include staff members, ensuring that your team can make the most of the software.
We believe that if you are gathering data for HMRC, then this data must work with your business so you can make better decisions. Haines Watts has a wide range of online resources to help your cloud accounting journey run smoothly. Visit our dedicated Cloud Accounting Solutions page and read our series of blogs on the topic including 7 reasons to make the switch and What’s driving Making Tax Digital?
