MHA MACINTYRE HUDSON has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital tax records.
Making Tax Digital will be mandatory from April 2018 and require businesses to keep digital records and send quarterly updates, which may be difficult for SMEs.
Sarah Dodds (pictured), MHA MacIntyre Hudson’s partner and cloud accounting leader, said: “Making Tax Digital will require quarterly online tax statements for all businesses from 2018. By acting now, we are more than ready to comply with the new government digital tax requirements.”
The firm will be using a platinum partnership with Xero to benefit from the power of the cloud for a simpler process to file compulsory quarterly tax statements. These quarterly statements are one of the controversial issues debated in consultations over Making Tax Digital, which is supported if carried out correctly.
MHA MacIntyre Hudson has also adopted cloud versions of SageOne and QuickBooks Online, so that it has the accounting solution most suited to clients’ needs.
Dodds added: “Our partnerships with Xero, QuickBooks Online, and SageOne give our clients a choice of the best, and cost effective, solutions. Also, the time we save in managing tax affairs and company accounts will be devoted to them in terms of advice and improving their business profitability.”
Clients will have the choice of managing their own record keeping, reducing their accounting costs, or electing MHA MacIntyre Hudson to set up the business on the cloud on their behalf. Other benefits of accounting software include automated invoice production, live management accounts and instant secure access worldwide.
ACCA and the ICAEW welcome the decision, which provides an opportunity for the measures to be discussed in full following the general election on 8 June
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