Networking Breakfast Seminar: ‘The Age of the Cloud – Making Tax Digital’
We were delighted to see so many local businesses attend our breakfast talk on ‘The Age of the Cloud – how to make your Business work Smarter not Harder’ last week in partnership with Hartley Fowler Chartered Accountants.
The morning started with a networking breakfast followed by an introduction by Merton Chamber’s Caroline Cook. Hartley Fowler MD Peter Collins started off the seminar by providing an overview of ‘Making Tax Digital’ (MTD) and addressed some frequently asked questions.
For those not familiar with MTD, it is a government initiative aimed at moving all communications with tax payers into a digital system. Reasons for this move include the potential for less human error, better analysis of data submitted and a general belief that digital communications are cheaper. From April 2019 all VAT registered businesses with an annual turnover of £85,000 or more will need to join although some basic company information will need to be recorded digitally by all businesses, regardless of size. All the major accounting software such as Quickbooks, Xero etc will be compatible with the HMRC system and feed straight into it, so if you haven’t signed up already, now is the time to do so.
Peter’s talk was followed by Freddie Hooper from Receipt Bank who explained how their software can help businesses embrace automation and make the most of the digital revolution. Receipt Bank’s software lets you electronically read invoices and manages your receipts digitally – the app even lets you take pictures of receipts, extracts the relevant data and uploads it straight to the software.
Next up was Jonathan Richards from breathe HR whose cloud based HR platform is centred around three main areas; organising employee information and data easily and securely, automating processes therefore freeing up employees’ time, and being able to make informed decisions by having all relevant information in the cloud.
All talks were followed by a Q&A session. Thank you to all who attended!
If you require any assistance with your business’ preparation for MTD please contact the Hartley Fowler team on 020 8946 1212 or firstname.lastname@example.org.