Accountants MHA MacIntyre Hudson ready for Making Tax Digital
In readiness for the first roll out of Making Tax Digital in April 2018, the government’s mandatory requirement for businesses to keep digital records, Top 20 Accountancy firm MHA MacIntyre Hudson has partnered with Xero, a leading cloud accounting software provider.
Under its new Platinum partnership with Xero, MHA MacIntyre Hudson’s staff and clients will be able to manage all business accounts in the cloud, making the filing of 2018’s new compulsory quarterly tax statements a much simpler process.
For clients who prefer, or who are already using, other accounting software packages, MHA MacIntyre Hudson has also adopted cloud versions of SageOne and QuickBooks Online, amongst others, so it will have the accounting solution most suited to their needs.
Filing quarterly tax statements is just one of many benefits of adopting cloud accounting software. Others include automated invoice production, live management accounts and, of course, the primary benefit of the cloud: instant secure access to Xero, Sage or QuickBooks via a laptop, smartphone or other device from anywhere in the world.
Clients will naturally continue to have the choice of principally managing their own record keeping and filings, which has the potential to reduce their annual accounting costs. But if they prefer, they can elect MHA MacIntyre Hudson to act as their proxy, setting up their business in the cloud on their behalf.
MHA MacIntyre Hudson chose Xero as a cloud accounting host on the strength of its service being designed from scratch to work in the cloud. As a consequence, Xero’s software is intuitive and easy to use, which is especially important for clients who may have preferred paper-based bookkeeping and management accounts.
It is also robust, secure and fast. Its key differentiator, now being replicated by other accounting software providers, is its direct bank feed, enabling users to drag in business bank information, preventing the need to have to re-enter data for bank reconciliations.
Sarah Dodds, MHA MacIntyre Hudson’s partner leading on cloud accounting, said:
“Making Tax Digital will be implemented in 2018, requiring quarterly on-line tax statements for all businesses. By acting now, we are more than ready to comply with the new government digital tax requirements when they are finalised.
Our partnerships with Xero, QuickBooks Online, SageOne and others, gives our clients a choice of the best, most cost effective cloud accounting solutions. And for us, the time saved in managing their tax affairs and company accounts means we have more time to devote to them in terms of advice and helping our clients’ businesses become more profitable.”
View our full list of Making Tax Digital articles here.