Recommended practice software?

Which is the overall best software for a brand new micro accountancy practice?

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I'm looking for the best practice software to use for a new micro accountancy practice. I'm not looking for the cheapest, but the best overall value in terms of both cost and ease of use. I need accounts production for sole traders and small companies, personal tax and corporation tax. Any recommendations?

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By Wanderer
04th Jul 2023 17:42

Comes up regularly. I'd recommend TaxCalc but avoid the Time module!

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By ireallyshouldknowthisbut
04th Jul 2023 17:51

Quite frankly there is not much on the market, most of it has been bought up and shut down by IRIS.

Really your choice is TaxCalc or some of the obscure stuff unless you want to get price gouged by an IRIS product once the first couple of year are passed.

Tax Calc is very decent for the tax side, but the 'add ons' are quite frankly a bit pants.

We use VT for final accounts (looks horrible, but great if you are into excel) but many others on here use TaxCalc for this. I haven't looked at it for a number of years.

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Replying to ireallyshouldknowthisbut:
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By Wanderer
04th Jul 2023 18:02

We reevaluated the main offerings a year ago. We found TaxCalc Accounts Production streets ahead of the competition (including IRIS, which we have used for years).

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By legerman
04th Jul 2023 18:22

I use Capium, all in one suite that does everything, from bookkeeping to final accounts. A bit of a learning curve, but I've got used to it now. You can do individual modules as well if you didn't need the whole package, so for what you've described you could take the self assessment, accounts production and final accounts.

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Replying to legerman:
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By Rgab1947
06th Jul 2023 11:08

id

Cloud based and good

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Replying to legerman:
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By Catherine Newman
06th Jul 2023 16:49

I already have Accounts Production and CT modules. I am having a demo of the book-keeping one on Monday as it seems logical for it all to flow through. I am having to change due to Quickbooks Desktop having come to an end. VT is also under consideration. Ease of migration will probably clinch it.

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By SXGuy
04th Jul 2023 18:47

I've been a taxcalc user for 5 years now. Moved to them from keytime who are now part of Iris.

I've found their renewal pricing to be pretty good with no major price rises compared to the competitor I just mentioned.

Overall I'm pleased with the functionality, there are some bits of Account production I'd want changed like being able to show deferred tax reserves seperate from shareholders funds but in all does it's job.

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Replying to SXGuy:
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By Wanderer
04th Jul 2023 19:37

SXGuy wrote:

like being able to show deferred tax reserves seperate from shareholders funds

Just completed a set of FRS102 accounts with DT and this shows the DT fine under Provisions for Liabilities on the assets side of the BS rather than the shareholders' funds side.
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By claudialowe
05th Jul 2023 09:17

I have used BTC software for a number of years now. Again they are outside the grasp of IRIS. Nothing fancy and support is excellent.

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By Jo Nokes
05th Jul 2023 14:23

I use Taxcalc for tax returns, Moneysoft for payroll, VT+ for routine bookkeeping when I have to do it (made easy by importing bank csv), and VT final accounts (an Excel add in). All reasonably priced, no need to look anywhere else

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Replying to Jo Nokes:
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By SJRUK
05th Jul 2023 18:18

Jo Nokes wrote:

I use Taxcalc for tax returns, Moneysoft for payroll, VT+ for routine bookkeeping when I have to do it (made easy by importing bank csv), and VT final accounts (an Excel add in). All reasonably priced, no need to look anywhere else

We use this except Top Up for the tax returns.

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Replying to SJRUK:
Kitten
By Hazel Accounts
06th Jul 2023 14:34

I also use and like Moneysoft for payroll and VT for bookkeeping (this also does MTD for VAT) and the VT final accounts module (which can file at Companies House and generates the ixbrl files needed to attach to CTax returns) and they are very good value.
I still use Taxfiler for all tax returns but I am aware IRIS now own this so not sure it's still available for new users which is a shame. Not looking forward to having to move from it and the price I pay whilst increasing is reasonable at the moment.

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online accountant
By paulcolman
06th Jul 2023 10:50

I use GBooks for all accounts and tax returns. It has worked great for me for nearly 10 years. It's fully cloud based so no downloads and no updates to install. Prices are reasonable too. https://www.gbooks.co.uk/

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By mydoghasfleas
06th Jul 2023 12:15

Taxfiler should hit the spot leastways it does with us.

The trouble is you search for it. The result is a link to Tax Elements which has addons to get you to an equivalent. Just like everything IRIS, it is bought up by the company; continues to run and update; but try and find support and you are down a rabbit warren of dead links.

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Donald MacKenzie
By Donald MacKenzie
06th Jul 2023 12:38

VT Final Accounts (particulary when linked to brilliantly simple VT Transaction+ accounting software)
FTax for tax returns

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By graeme kempson
06th Jul 2023 13:48

I use VT + for bookkeeping, and Moneysoft for payroll c £200+ pa. For accounts production, tax - personal and corporate use Absolute c £1k pa.

Absolute do both the former but choose not to use them.

That's about 13 years now, and no problems with any for support the few times I have needed it

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By tinytiger
06th Jul 2023 14:56

Our mix is Taxfiler (https://taxfiler.co.uk/) for everything but payroll, (where we use Moneysoft). I pay for Taxfiler annually. I like taxfiler because it has all the basics in one place but is uncomplicated.

Also, more and more bookkeeping packages are allowing direct filing through their software, at least for advisors - so may be worth checking this out early doors.

Whatever you choose make sure they provide what you need and you don't pay for things you don't use or already have.

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Glenn Martin
By Glenn Martin
06th Jul 2023 15:34

Taxcalc for us does everything we need we are on the cloud connect so you can access data from anywhere, with the functionality of desktop software. (the purists will say its not fully cloud but who cares).

As others have said not great deal of options, would love to get on with Xero tax as a free option but still has a way to go last time I looked.

Taxfiler was always popular until it was swallowed up from IRIS

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By Patricia Long
06th Jul 2023 16:15

Hi I use Moneysoft for Payroll, VT final accounts and Xero for day to day bookkeeping. Xero are now MTDSA ready and have an excellent, easy to use software. I have been using all the above for more that 12 years now. Highly recommend,

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Replying to Patricia Long:
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By Hugo Fair
06th Jul 2023 16:21

"Xero are now MTDSA ready" ... is a remarkable claim (by them presumably) given that HMRC haven't yet finished tying down the full specification!

They may be able to tick a few boxes on pieces of the draft/w-i-p toolbox, but that's no more than is true of most of the software suppliers ... and remains useless until (or if) HMRC get their act together.

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Replying to Patricia Long:
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By Jimess
25th Jul 2023 10:16

Why pay additional subscriptions for Xero when you already have VT+ included in your VT accounts subscription?

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By AdamJones82
08th Jul 2023 11:53

No point recommending Taxfiler, it's long not been available to new customers, and Elements now includes a Migration Tool from Taxfiler, so it won't be long before it's discontinued full stop

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By Jimess
25th Jul 2023 10:13

We use VT+ for bookkeeping and VAT returns and BTC for accounts, corporation tax, personal tax and company secretarial. No nonsense, easy to use and helpful support teams. The only fly in the ointment is that BTC have just joined the Bright Group so things may change but after 10 years or so of fantastic service from BTC I am not going to jump unless things change dramatically.

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