I need to submit abbreviated accounts and a CT600 for period ending 31st Jan 2016 and the HMRC online Accounts / Corp Tax submission is no longer (ended December 15).
I am a Micro / Sole practitioner and will probably only need 10 SA returns and 5 CT return in the year.
Anyone in a similar position?
What Software do you use and would you recommend it?
Thanks for your help
Replies (20)
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No in a similar position but would recommend Taxfiler.
Very very user friendly and the cost is great also at £15 plus VAT a month
When I was a sole practitioner I used to use Ftax as you can buy credits according to your requirements and VT for the ixbrl accounts package. Not perfect but it was the cheapest option I found. For individuals I stuck with HMRC software.
taxcalc
Same here (sole/micro practice) - I use Taxcalc (for accounts and tax) which has a micro edition (up to 10 of each from recollection), though I'm probably just going to be over that this year so will need to look at things.
Found the software easy to use, and support has been excellent
cheers
mick
aaahhh
Just check - seems I have just outgrown my Taxcalc micropractice by a few limited companies...
Being relatively new to practice, I like the way Taxcalc highlights and guides you along the way.
Tim, Is taxfiler as good, for those newer to practice? I've just had a look through their demo which looks really good, and the cloud is certainly appealing to me.
Do you use it for both accounts and tax prep? any drawbacks?
cheers
mick
Absolute Top Up 2016
You only pay for the returns you need with this product, so worth a look.
I use it and find it easy to use and can import from VT+
@Mick
Taxfiler does not have all the simplestep stuff that Taxcalc does. It does have some wizards and it takes a less "form-based" approach. I find Taxfiler quicker to use than Taxcalc, but everybody should choose software that works for them.
TaxCalc
We swapped over to TaxCalc last year, I wish we had done it years ago, we used to use VT and FastTax which are great but TaxCalc is so much better and now we are bigger is saving us a lot of time.
Jason
TaxCalc
I would like to add a vote for TaxCalc. I've been using it for years and I think its very good. I recently outgrew the micro practice product but found them very helpful in arranging a mix of options to suit my needs. Probably isn't the cheapest solution out there but really works well in my opinion. I haven't tried their final accounts add-on and still use VT for that.
MTD
Dear All, I am in a similar position. 50 clients but all very small - my annual turnover is around £12k. Has anyone contacted their MP about the impending changes and has anyone discussed this with their clients? My MP simply passed on my concerns and I got a standard reply from the Treasury. Interestingly anyone without digital facilities will be able to phone in their quarterly returns - how's that going to work I wonder? I went on an interesting Webinar by Thomson Reuters yesterday. One of their speakers was clearly an employee of one of the software companies advising HMRC. Others were clearly city based practices with employees. I found the dismissive way sole practitioners like me were treated showed how, in effect, sole traders like us have been disenfranchised. I got the feeling that we are not wanted in the new age. Another software company on another site has admitted in writing that there will be extra costs that accountants may well have to pass on to clients. So much for a government being on the side of small businesses. All this could have been avoided if it was left as voluntary for the first few years in which time simple solutions for the many micro businesses could have been found. I fear those making the decisions are not in a listening mode. I wonder too what will happen to all those businesses who don't have accountants and because of the lack of information and advertising from HMRC will wake up on 30 June 2018 with a sudden demand for information on their first quarter's activity.
I`m running a part time micro practice while working FT in the industry (previously I spent 5 years in high street practice prior to moving to the industry a year ago to gain more broad experience).
With around 150 TRs and 8-10 Ltd/LLPs to look after I`m using VT+ and Taxfiler and just recently started using Inform Direct for CoSec.
Reasonably priced and does what it says on the tin.
Client base
I`m running a part time micro practice while working FT in the industry (previously I spent 5 years in high street practice prior to moving to the industry a year ago to gain more broad experience). With around 150 TRs and 8-10 Ltd/LLPs to look after I`m using VT+ and Taxfiler and just recently started using Inform Direct for CoSec. Reasonably priced and does what it says on the tin.
Well done you, that's quite an achievement whilst also working a FT job.
TaxCalc
We're in our fourth year with TaxCalc having changed from Digita. No regrets. They have reduced prices for lite users all displayed clearly on their website. Excellent products for the smaller practice.
A vote for TaxCalc
TaxCalc is very good for a micro practice. Fairly priced, easy to use, it has good features, assignment tracking / reminders, all sorts.
RE: Iris Open Tax
Re. Iris Open Tax : I tried this out of curiosity around 6 months ago and could not believe just how bad it was compared to Taxfiler. That spinning time wheel whenever you try to progress through the return spins for way too long!
Each to their own though.