Making Tax Digital – An Accountant’s Verdict

Making Tax Digital – An Accountant’s Verdict


Hi I’m Billie McLoughlin. I’m from Harris, Lacey and Swain I’m an accountant and I deal with all things Digital here. I’ve come here straight from school and qualified here and from there now I’ve moved over to the digital side of things. So Making Tax Digital has really helped us in terms of getting the clients into a better routine I think. I think some of the clients who especially start ups who are not
sure on how to do bookkeeping and how to keep their records it
really helps them gives them a format and a more compulsory format of how they have to keep everything together. I think for other clients so some of the larger ones that we have. It’s been a little bit of a shock but at the same time it’s been great
because we’ve been able to put them on systems
that they now can print reports at the click of a button and it’s really promoting the
benefit of cloud accounting. We don’t have any
clients that we do paper returns for so
everything we do is technically digitally anyway. The problem that you have is the
different formats clients bring in their
information so you get everything from paper, spreadsheets, different softwares including like specialised written softwares for each
individual client. The problem was everything being in a lot of different variations and then you having to sort of
comprise all that information to put it into a VAT return. The great thing about MTD is you can look through all of your information on a system and know that everything’s in that return check the detailed report make sure everything’s correct and then press submit then it goes. You’re taking out any sort of human error which I think is a huge risk. We signed up to our Agent Services Account and it was very straightforward to be honest. And from there you then put in your old government
Gateway information and it can sync the clients across. I think one thing that isn’t clear
is the fact that in your new Agent Services Account you don’t see those new clients or your existing clients they don’t
appear on there. So you aren’t 100 percent sure whether it’s a completed process but in terms of signing up to it, it was very straightforward. We’ve also got a lot of help from
our software providers that have put on various seminars and helpful workshops to promote it and how each individual software works alongside MTD and how they can work together and how easy the process will be
once it comes in. This has also been really helpful when we’ve done the pilot scheme so
we signed up clients to the pilot scheme use our software to submit a return and we knew it worked and that way we’ve now got
confidence ready for April because we know they work. The other thing is as well we used the .GOV website and they had a real helpful video of
like a minute and a half. It was just step by step of how to do everything. So if I was to send out a message to other accountants it would be to not panic. There is still time, there is time if you get moving now. The key would be to ensure that you are supporting
your clients and in return you know you get that
client loyalty

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