Virtually all VAT-registered businesses in the UK have made the transition to Making Tax Digital (MTD) since April 2019.
The fact that 94% of all mandated businesses complied with MTD to submit their VAT returns in the first two stagger deadlines shows what a success story it is.
That comes as no surprise to us, as we have been filing monthly and quarterly VAT returns on behalf of our clients for 28 years.
What we have seen is an increase in the volumes of clients moving to cloud software, and all of them are reaping the benefits.
Digitalisation of filing other taxes, including inheritance tax, income tax and corporation tax, is also in the pipeline.
That’s why we are encouraging more of our clients to move towards the cloud, starting in the New Year.
What does digital accounting software offer?
“Since moving to the cloud, I haven’t looked back,” said Ian McMurtrie, director at a Bradley Stoke-based IT firm and a Xero customer.
Like many other business owners who use cloud accounting software, Ian appreciates having real-time access to his limited company’s financial performance, and being able to manage his accounts on the move.
Digital accounting software provides a clear view of your finances, ensuring you and your accountant are one click away from the figures.
This enables us to spot red flags such as negative cashflow much earlier, and identify opportunities for your business to thrive.
Not all our eggs are in one basket with a turquoise-coloured Xero label on, though. We can train you up on QuickBooks Online and Sage Business Cloud, too.
Like Xero, these are easy to use, saving you time and money, providing accurate data and better business updates, and keeping you up to date.
If you are an existing client and currently use outdated desktop accounting software, we offer a 10% discount to make the move today.
Moving to QuickBooks Online
Rob Swindells, partner at an independent craft store in Clifton, recently made the switch from QuickBooks desktop to QuickBooks Online – and he hasn’t looked back.
“QuickBooks Online is easy and secure to access and makes finding records simple and quick to adjust when required,” he said.
“It is also useful when we want to gain a quick overview of how the business is performing over a given period as it shows sales and pre-tax profit.
“Since converting over to the cloud, our job has got a lot easier.”
Switching to Xero
Being Xero Gold Partners means our experts know this accountancy software, and all its associated apps, inside out.
Hannah Pepper, director of a dental practice in Somerset, came to us earlier this year after setting up a new VAT-registered venture.
“With MTD coming in and the need to move to a cloud package, I knew Dunkley’s could help with their specialisms in this area and dental expertise,” she said.
“They set me up on Xero and provided me with training, guidance and support, enabling me to keep on top of my bookkeeping and collaborate with stakeholders.
“The biggest benefit is the 24/7 access it allows. As a busy mum, this is ideal as I can even check Xero while on the school run.”
Whichever digital accounting software you settle on, our cloud specialists offer a plain-sailing switch to your chosen package.
Linda Mannion, director at a legal services firm in South Gloucestershire, thought so after encountering issues with conversion balances and credit card accounts.
She said: “When implementing the switch, we were given clear guidance and the transition was smooth. Katie [Harvey] and the other experts really helped us.
“We have found the collaboration and real-time insights so beneficial as the team at Dunkley’s can just hop on to our account and see exactly what the issue is.
“As I work in the USA for a quarter of the year, I have found Xero perfect for working on the go – for me the need for remote desktops has long gone.
“I have found Xero so beneficial for my business and the support of Dunkley’s fantastic. I would highly recommend for any business to make the switch.”