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Tax Software - Micro Practice

Tax Software - Micro Practice

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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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By TT123
12th Apr 2016 11:47

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

Thanks (1)
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By seventax
12th Apr 2016 11:48

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.

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By balamb90
12th Apr 2016 12:02

Would prefer all in one
I would prefer to have accounts and tax submission in the same software.

HMRC software worked for me to but it's no longer available for CT so have to find something else.
I use VT Transaction+ which produces the iXbrl for importing into the Tax software.

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By Mick Milne
12th Apr 2016 14:11

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

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By Tim Vane
12th Apr 2016 14:18

Another vote for Taxfiler. Everything you need for £10 + VAT per month.

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By Mick Milne
12th Apr 2016 15:15

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

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By SJRUK
12th Apr 2016 16:48

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+

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By Tim Vane
13th Apr 2016 10:34

@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.

Thanks (1)
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By jasonholden
14th Apr 2016 10:38

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

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By dl100tr
14th Apr 2016 10:49

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.

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David J Cox FCPA
By sussexbulldog
14th Apr 2016 10:57

Taxfiler has accounts built in so you won't need VT.  

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By carnmores
14th Apr 2016 11:00

@Tim Vane

what is all this simple stuff i am missing?

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By DMBAcc
14th Apr 2016 12:09

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.

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By free-rider
14th Apr 2016 12:22

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.

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By Howard Marks
18th Apr 2016 09:26

Client base

free-rider wrote:
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.

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Stephen Quay
By squay
14th Apr 2016 15:10

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.

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By Harsh
14th Apr 2016 17:54

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. 

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By BJNATHAN
17th Apr 2016 16:29

IRIS opentax

Very good to use cloud based software.

Downside is it doesn't intergrate 

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By Manchester_man
17th Apr 2016 22:47

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.

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Replying to BJNATHAN:
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By chatman
21st May 2016 08:35

What doesn't integrate with what?

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