Archives for Software

MTD Pilot scheme is opened

HM Revenue & Customs (HMRC )opened up their  pilot for the online VAT service for MTD on the 16th October, with HMRC inviting more than half a million businesses to try it ahead of new rules coming into force in April 2019.

HMRC’s press office proudly stated :

“Making Tax Digital (MTD) for VAT will make it easier for businesses to manage their tax and will save them, and their agents, time which can instead be devoted to maximising business opportunities, encouraging growth and fostering good financial planning.

From 1 April 2019, under MTD, around 1m businesses registered for VAT with a taxable turnover above £85,000 will need to keep their VAT records digitally and file their returns using MTD-compatible software.

The pilot opens today for around half a million businesses whose affairs are up to date and straightforward, and will extend to most other business types over the coming months. HMRC has also listened to concerns and will give a small group of customers with more complex requirements a further six months to prepare. This will ensure there is sufficient time for testing the service with them in the pilot before they are required to join.”

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Software solutions

Accounting solutions that fit you, not fit us and pushed on you.

Holmes and Company have teamed up with a number of accounting software providers – including certified status with the market leaders in this field,  Xero and Quickbooks, and bridging software solutions for Making Tax Digital (MTD) and excel accounts – so we can find the right solutions for our clients.  If you have any software requirements please contact us

   

    

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Cloud accounting software

I’ve got accounting software, why do I need cloud accounting software.   The short answer is you don’t.  In the same way your trusty 2nd hand car gets you from A to B just like a Tesla.  But the Tesla has advantages as it utilises modern technologies.

Cloud solutions

Cloud software is all the buzz at the moment.  Especially with Making Tax digital around the corner.  But really all cloud means is that the data and software is held out in the “cloud” not on your local PC or server.   The cloud just means someone else’s server not local to you which you access via the internet.   The advantages of this are no more updates to software, access anywhere you have an internet connection and on multiple devices and reduce costs as you do not need to replace that 10 year old machine sat in the back office that no one knows how it works.

This off course isn’t just limited to just accounts software.  Most IT services now have cloud solutions (And maybe some you use without even thinking about it) including file and record storage, Relationship management software, Email, Practice management to name a few.  But ultimately, if it had a bit of software it probably has a cloud solution available now.

Also, being in the “cloud” makes it easier for other systems to communicate directly with the software.  The most common benefit that shows this is direct bank feeds into the accounts software relegating the need to manually enter all the bank movements.

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