Budget 2015 – Brave New WorldPosted 2015 by admin
As avid fans of online computing, we were pleased to hear in Budget 2015 of the Chancellor’s plans to move reporting for tax purposes into the digital era with the ultimate aim of removing the requirement to submit the annual tax return.
For those that believe that this means that they no longer need to submit accounts etc, are going to be disappointed. Although the plans are at a very early stage, the goal will be to link HMRC software with client’s own online accounting software.
Clearly archaic software and manual accounting systems have no place in this Brave New World and we have been preaching for some time that the age of the spreadsheet and desktop software has been and gone. Cloud computing using low cost software such as Xero which offers great reporting functionality is the only way forward.
We for one are looking forward to this new era and our many clients that use Xero are already ahead of the game.