TaxCorporate TaxHMRC and BASDA to produce phone apps for record keeping

HMRC and BASDA to produce phone apps for record keeping

Mobile phone apps are to be launched to help small businesses maintain good tax records

HM REVENUE & Customs (HMRC) and the software industry are producing a range of simple mobile phone apps to aid small businesses with their record-keeping.

HMRC worked with BASDA and independent developers to facilitate the development of the apps.

Mostly free, the apps complement existing HMRC record-keeping guidance and tools, and aim to help small businesses and the self-employed who are below the annual VAT registration threshold (£77,000) maintain good records and estimate what their tax liability might be.

“You no longer need to rummage through piles of your receipts to get a full picture of your business as Sage Record Keeper allows you to record and search for cash records in seconds,” explains Nicole Anderson, business development director at Sage UK, whose teams have been working closely with HMRC.

“We believe that Sage Record Keeper’s simple means of managing such information via your mobile phone will be a huge benefit to busy entrepreneurs.”

Exchequer secretary, David Gauke, said: “These apps help take forward our commitment to tax transparency in a very direct and practical way. They can help SMEs feel more confident about their record-keeping and provide a direct link to the business’s finances, freeing up time which can be better spent on the day-to-day running of the business.”

 

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