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Making Tax Digital

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National Audit Office focuses on HMRC

“HMRC is primarily in the business of bringing in tax revenue, and numbers are up for 2017-18 which is good news. Of course it needs to be vigilant on fraud and error, which is rising in Tax Credits, and on customer service. I welcome HMRC’s recognition of the need for prioritisation, to balance Brexit pressures and […]

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IRIS launches digital excellence awards

IRIS is launching its very own awards to celebrate individuals and accountancy practices thriving in the digital economy. The IRIS Customer Awards have been set up as the software group enters its 40th year. They acknowledge best practice across several areas as accountancy firms evolve beyond compliance services to capitalise on service opportunities in the […]

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HMRC releases new update on making tax digital

Making Tax Digital edges ever closer. Late on Friday afternoon HMRC posted an MTD update including a list of 18 software suppliers, as it put it: “To support businesses and agents in the run up to the start of the mandatory MTD VAT service from April 2019.” The online information package includes: A new HMRC VAT […]

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The man behind Rhino, Eugene Blaine

Eugene Blaine started his first software company, Atlantic Global, in 1993. He took the group public in 2001 on the LSE Aim market. Atlantic built and supplied software solutions to leading companies such as Barclays Bank, HSBC, Pfizer, GSK and Aviva. In 2012, Atlantic was acquired by KeyedIn, a leading US cloud software company. Following […]

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How’s your MTD transition looking?

I found some good advice for accountants looking to make the transition to digital the other day. It’s from Damon Anderson, the affable director, partner at Xero. And it comes complete with a heavy nudge to get your act together (if you haven’t already)! Damon says: “MTD will put many practices under pressure when it […]

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Business calls for MTD roll-out delays

An “alarmingly high” number of UK businesses don’t know a thing about Making Tax Digital, says the British Chambers of Commerce. Or they know very little… So it’s no real surprise that they would like to see HMRC further delay the programme’s roll-out. BCC research, carried out with US tax software group Avalara, shows: 24 per […]

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HMRC adds to self-assessment software supplier list

Welcome to this week’s final Daily Insight. Back in March HMRC produced a short list of making tax digital software suppliers. It contained two names, IRIS and Rhino. It added Absolute and Forbes a couple of months later. This particular list appeared on the gov.uk website under the headings: “Software for sending Income Tax updates … Find out […]

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Accountants to play MTD teaching role

Today’s Daily Insight focuses on some insighful industry Making Tax Digital statistics. MTD is the No.1  problem for VAT-registered small business owners as they undergo technological transition. The education role for accountants is clear. Research by online accounting software provider Intuit QuickBooks finds that 76 cent say understanding digital is a chief concern, followed by finding the tools […]

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HMRC software supplier list for MTD grows (slightly)

One of the speaker sessions that I particularly enjoyed at Accountex 2018 was by the HMRC’s Heather Elliot. The title of her talk wasn’t all that snappy: “To Raise Awareness of, and Engagement with MTD… (wait, it’s not finished yet) Specifically in the Area of VAT and ITSA.” Yet Heather, who is part of the (also […]

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