Joining the digital age – it’s time
Computers are not everyone’s cup of tea but joining the digital age is the only way to go unless you want to be left behind.
Not all of us are script kiddies or code junkies or even computer literate and some of us would likely not recognise a computer even if we tripped over one.
Unfortunately, there does seem to be a continual drive to increase the effective use of computers both in businesses and in the offices of HMRC in particular.
Gone are the days when HMRC’s offices were populated by real human beings checking hand written tax returns before transferring figures in to foolscap ledgers.
Now instead we have visions of racks and racks full to the brim with servers and files all flanked by rows of desks. Nowadays, information is digitised and pushed along underground cables, from the PC of your or your advisors’ desktop and seamlessly integrated into your personal tax account on some distant server.
HMRC’s current ambition to take this process forward by requiring all business owners to send information to HMRC quarterly via computerised, summarised data, will mean that, sooner rather than later, all manual processes will become extinct. This is the ongoing Making Tax Digital or MTD revolution that is rapidly being brought on-line. You may have heard of it? If not, take a look at our guide here.
So where does this leave the smaller, less computer savvy business owner?
Many still have no great desire to become totally dependent on IT. They remain happy with the annual chore of dumping everything: invoices, bank statements, cheque stubs etc., into a carrier bag, and leaving this with their accountant.
Lately, we now seem to be moving into an age where computer software is taking over the computational activity previously undertaken by accounts clerks and bookkeepers, bent double over ledgers and calculators.
The message being communicated to us today is that this digital process is unstoppable.
But fear not, we can help.
At THP, we have already crossed the computer Rubicon. Our team is fully trained and ready to go. We already have software in place that we can use to do everything for you on your behalf, or if you fancy having a dabble yourself, we can recommend and show you how to use software specifically designed to meet these new obligations.
The clock is ticking.
If you are still unsure how and whether to embrace these new challenges or would like our help in dealing with them for you, please call us now to discuss your options.
About Kirsty Demeza
With a portfolio that ranges from startups to companies with a £10 million turnover, Kirsty’s talent for working closely with her clients ensures her services remain in strong demand.
“The most rewarding part of my role is seeing clients succeed,” she says. “When you help a new business and watch it expand into new premises and secure big contracts, it’s a great feeling.” Kirsty never finds two days are the same.
As well as providing accounting services that range from self-assessment tax planning and VAT to audit and accounts, she’s part of THP’s sales team and closely involved in helping our trainees to develop their skills.