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Xero Tax

Are you or will you be using?

Didn't find your answer?

As you may be aware Xero offers 

  • Corporation Tax
  • Company Accounts
  • Personal Tax
  • Sole Trader Accounts

Has Xero finally got there what it promised years ago?  A practice suite. 

Are you or will be using the Xero cloud based integrated solution?

We are well tied in with TaxCalc's ecosystem. There has to be something extraordinary for us to make the move. 

Thanks

 

Replies (10)

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By Winnie Wiggleroom
14th Sep 2021 16:23

For me, accounts and tax prep is separate from book-keeping, I have no interest in having all my clients on Xero for example as we use Sage, QBO, Xero and others. That of course will eventually change with MTD I would assume with taxfiler being reserved for the odd non MTD case

Thanks (1)
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By AdamMurphy
14th Sep 2021 16:27

It will be a jack of all trades, master of none

Thanks (3)
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By Carl London
14th Sep 2021 22:51

I imagine it will be painfully slow to make SATR entries compared to using TaxCalc (waiting for next page to load etc). I will take a look though.
Xero is great for getting data automatically from third parties (e.g. Dext, banks etc) but when it comes to using it for manual data entry (e.g. interest, dividends, royalties) I don't think it will work well.

Thanks (1)
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By Calculatorboy
15th Sep 2021 00:03

I have an open mind but am sceptical

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Glenn Martin
By Glenn Martin
15th Sep 2021 00:22

We have run a few jobs through it and very happy with it and it will work for 85% of our clients.

We have renewed Taxcalc for this year but will gradually move over the AP side of things.

It does the job and its free so could potentially save a lot of accountants some overheads.

Xero + Working Papers + Xero Tax is quite a slick end to end process.

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Replying to Glennzy:
By ireallyshouldknowthisbut
15th Sep 2021 08:58

interesting, I had a look and was unimpressed. It seemed very undeveloped. I was looking at the CT600 and company accounts which seemed to be quite restrictive in terms of what you could do with them.

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ALISK
By atleastisoundknowledgable...
15th Sep 2021 06:32

About 50% of clients are on Xero, the majority of the rest are just spreadsheet/bank statements YE clients. I’d have to keep 2 AP/tax systems going, so might as well just stick with TaxCalc for everyone and ignore XeroTax. Agree with other posters - Xero is for bkpg. Payroll is a hash, I (maybe unfairly) question the smooth running of Tax. If I was materially 100% Xero, then I would probably consider it and use a ledger licence for the non-Xero clients, saving c£1.5kpa

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By RobbieT
15th Sep 2021 09:53

Currently all clients on Xero for bookkeeping & accounts, but I've found (when I had a brief go a few months ago) Xero tax to be cumbersome: much easier to refresh TBs from Xero into Digita AP & run CT & PT from there. That said, my renewal for Digita >£4k / 100 clients: it would nice not to have to swallow that....
I'll be taking another look, but it would have had to have improved significantly to make it worth a switch, even with the fee saving.

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Replying to RobbieT:
Red Leader
By Red Leader
15th Sep 2021 11:51

You could switch from Digita to Taxcalc and probably save £2k.

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A Putey FACA
By Arthur Putey
15th Sep 2021 12:17

If I need an integrated cloud platform for MTD I will probably look at Sage Online. What it lacks in the bookkeeping (compared to Xero) it more than makes up at the compliance end, and is likely to be better value.

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