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Cloud accounting

In recent years, the government started phasing in its landmark Making Tax Digital (MTD) initiative. It also outlined a vision to modernise the UK’s tax system, with digital tax accounts replacing tax returns for ten million individuals and five million small businesses.

As part of the regime, taxpayers must move to a fully digital tax system, with businesses and individuals required to register, file, pay and update their information using a secure online tax account.

Businesses will eventually be required to supply up-to-date information in respect of their income tax and national insurance contributions (NICs). Updates will need to be made at least quarterly.

RNS can assist businesses in making full use of the MTD system and can provide advice and support in regard to the quarterly updates required by HMRC.

We will also be keeping up to date on the latest developments in relation to MTD.

Please contact us for more information.

Xero

Xero helps businesses to save time on completing paperwork by helping to manage your business finances on your behalf.

This accounting software allows you to view your finances on the move; invoice using your smartphone, tablet, laptop or desktop computer; and automate bank transaction imports, payments and reconciliation.

RNS are accredited partners of Xero and have first-hand knowledge of its benefits. We can help you to install Xero software and make full use of all of its functions and capabilities.

To find out how we can help you with the installation of Xero software, please contact us.