From April 2026, Making Tax Digital for Income Tax will finally become a reality for some UK small businesses, changing what normal looks like in respect of their record-keeping and tax obligations. Making Tax Digital (MTD) is one of the
The accounting industry has changed significantly over the last decade due to digitisation changing how accountants work as well as the level of service they provide to their clients. The benefits of accounting software are huge for both taxpayers and
Digitisation has transformed many areas of our lives and this is also true in the accounting and financial management space. The Government’s Making Tax Digital programme has been a key driver of digitisation in this area but it would have
When you’re running your own business, every single penny counts. Not only are you keeping your company afloat, but this is your source of income too. Small business owners, contractors and freelancers will naturally look for ways to reduce costs
When you’re self-employed, the words “balance sheet” might bring to mind images of endless columns of numbers, formulas, financial jargon and perhaps a sense of dread. There are many positives to working for yourself which is why so many people
The reliance of small business owners and accountants on digital tools is ever-increasing and the same can be said for HMRC. Just as taxpayers use accounting software to improve accuracy and efficiency, HMRC also relies on technology to find discrepancies
Artificial intelligence (AI) has quickly transitioned from niche research for tech companies to mainstream use, impacting many aspects of our daily lives and how we live and work. From virtual collaboration tools to marketing analysis and chatbots to accounting software,
In today’s fast-paced business world, keeping your books ship shape seems like a pretty time-consuming and mundane task. If you flip this point of view though, it’s actually a strategic asset to your business for many reasons. As a small
Many sole traders and small business owners rely on spreadsheets to manage their business finances and accounting obligations. Spreadsheets are familiar, simple to set up and can provide a basic overview but they have limitations and as your business grows,
Over the past few years, the world of accounting has undergone a significant digital transformation. Gone are the days of paper receipts, handwritten ledgers, and last-minute tax scrambles. Instead, more and more small businesses, contractors and sole traders are using
Looking back over the past 5 years, we’ve seen a huge shift in the way businesses can adapt and change to economic factors. It’s incredibly important to be able to do so, no matter what industry you specialise within. With
Recent research has shown that around 58% of UK small businesses with 9 employees or less are using accounting software and that percentage will increase in the coming years as Making Tax Digital for Income Tax Self-Assessment becomes mandatory starting
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