MTD - thank goodness I didnt tell my clients!
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"I did have a plan though. I planned to get better software that would be able to cope (cloud based) plus a more upgraded type of practice management software. These I have done and even though MTD is deferred I am glad that the threat pushed me into action."
I think this has been the most positive thing altogether. MTD- in one form or another - is coming, but hopefully in a more informed way. The spur to get systems and client facing data collection in place I think is significant.
Thanks for the article.
I have attempted to use more cloud based systems, but it has actually slowed my processing slower. And that apparently, is progress.
I have attempted to use more cloud based systems, but it has actually slowed my processing slower. And that apparently, is progress.
Progress as defined by whom? Idiots, knowledgeable individuals, people with vested interests in convincing you to think their way? If cloud based system make you less efficient then challenge them (the providers); or simply make an informed choice. The choice is yours; choose wisely.
I did discuss what was happening with my clients but I also held off getting involved in any specific courses or webinars on the topic ESPECIALLY if the course or webinar was being promoted by a software company.
I am now relishing the thought of explaining to clients the government climb down on this matter - which I have started doing.
Making Tax Diabolical.
I had a plan, see earlier posts of mine - MTU Making Tax Up. I had floated my plan with 5 key clients and all 5 had said they would opt for MTU at £150 plus VAT compared to full-blown MTD at £600 plus VAT, despite the various caveats on MTU.
I am so glad I did not broadcast MTD, see earlier posts of mine I always felt it was likely to crash and burn before go live date.
In my view it is now dead in the water and will be slowly killed off, or altered so radically it ends up being fairly sensible and easy to implement instead of stupid and difficult.
ALL - repeat ALL - the Cloud products my clients use are:
1. Slow.
2. An increased security risk.
3. Full of material errors.
4. Expensive
Compared to the VT software solution I use where I get to choose the accounting solution. So why would anyone go down that road except with a gun to their head?
If you are doing the book-keeping for the client, for me the benefit of using cloud based systems all depends on one thing, and that is whether or not bank feeds can be easily controlled by us rather than the client and whether those feeds work consistently.
get that right and a) we can do the book-keeping whenever is most convenient and b) it means we don't have to constantly chase the client for that missing statement.
At present this seems to be hit and miss depending on the software provider and the bank, but things are improving and hopefully will continue to do so