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Comment from Donald Drysdale, ICAS
I contacted ICAS assistant director of tax Donald Drysdale as part of my research into a parallel article on iXBRL, Fears grow over HMRC's CT online deadline. By the time we talked, the joint HMRC-Companies House release had been issued.
While he felt the tax software industry had responded well to the challenges of iXBRL, Drysdale echoed concerns raised by AccountingWEB.co.uk members about what would happen to companies and accountants who used proprietary software and Microsoft Office to prepare their statutory accounts.
Confessing himself "a little bemused" by the joint statement, he continued, "My perception is that the software industry will have difficulting producting compliant accounts production in time... Yesterday's statement says commercial accounts production software will be 'widely available', but it looks as though they're expecting everything to happen just the way they want."
When the single point of filing idea was first mooted back in 2005, accountancy's professional bodies voiced concerns about the plan. While the information submitted to Companies House is a minimum that organisations would want to see in the public domain, the workings sent to HMRC are far more detailed, Drysdale explained. The concerns raised about joint filing then about the wrong information might get to the wrong place remains a worry, he told me.
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John Stokdyk, Technology editor
Digital Britain
Its seems that HMRC is starting to move ahead full steam with digital Britain not least because they realise the huge cost savings to be made and the number staff they will be able to shed. Clearly it would not be to difficult to file one set of data for accounts. As most accountants file accounts and tax returns at the same time already. would it just not be easier to merge companies house and HMRC, that seems an obvious step to most mortal people. Just extend the revenue filing to include an abbreviated set also. The days of filing paper return should be over. Clients should expect thier Accountants to be up to speed not stuck in the dark ages of tipex and typists.
Whilst thier at it also merge the Official Receivers office. Some joined up thinking.
David La Ronde
Accountants are already digital
From my perspective, many accountants have been 'digital' for decades. I started using computers in 1978 and first used a PC in 1985. I have developed many systems which work very effectively for my clients and for myself, all using word, excel and Adobe acrobat. The real problem comes from Customs and Excise and now, probably, Companies House themselves now becoming digital and expecting everyone else to adapt their systems to the weird requirements of these arrogant, thoughtless bureaucratic dinosaurs!