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Reflecting on Accountex 2017 and Making Tax Digital

By David Norris

I am writing this on the train on the way back from London, having spent two days at Accountex with my colleagues.

It was clear that technology was the driving force behind many of the stands and presentations, and this led to several sessions about change and how firms deal with that. One of the key drivers for this change is the upcoming digitisation of tax. We were able to speak to a number of suppliers to the accountancy profession about this, and recorded video interviews with key people from Intuit QuickBooks and Xero.

When we asked these people for their thoughts on Making Tax Digital (MTD) and the future of tax digitisation, they were all clear that it is coming and that firms should work hard now to prepare for it; both in terms of moving clients onto new systems and preparing practice procedures and staffing for the new regime. It was impressive how many of the suppliers were showcasing information they could provide to accountants – for example QuickBooks had marketing material for newsletters, websites and communication seminars for firms to use, and TaxCalc were proud of their MTD "Hub".

At SWAT UK, we are keen to reinforce the message that firms need to prepare now for MTD; as this is not just about filing information quarterly but about digitising the accounting records for your clients – and this could take many months to complete.

So, while a delay from government is welcome (if indeed that is the plan!), MTD is still coming at some point in the future.

We have a range of courses that can help you with your preparation, as well as useful resources such as client letter templates for different types of client. We are also available to help firms identify their strategic priorities for the coming months and years. Please check out our MTD page here for more information.

You can also watch the interviews with Xero and Intuit Quickbooks below, or on our SWAT UK YouTube channel along with some of our other videos from Accountex 2017.


 


 

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May 2017 

 

Disclaimer
This article is published with the understanding that SWAT UK Limited is not engaged in rendering legal or professional services. The material contained in this article neither purports, nor is intended to be, advice on any particular matter. This article is an aid and cannot be expected to replace professional judgment. SWAT UK accepts no responsibility or liability to any person in respect of anything done or omitted to be done by any such person in reliance, whether sole or partial, upon the whole or any part of the contents of this article.