Recent research from award-winning cloud accounting provider, FreeAgent, has revealed that over a third (37%) of accountants intend to change their pricing structure in advance of Making Tax Digital for VAT beginning next April.
During a recent webinar about preparing for MTD, FreeAgent asked over 100 accountants how they currently price their services, and whether they would change their pricing structure when MTD for VAT begins.
Current pricing methods varied, with a fairly even split between a monthly fee incorporating all services, an annual fee and ad hoc pricing, and nearly 40% of those surveyed using a combination of the above.
The majority of those who intended on changing their pricing structure plan to move from ad hoc pricing to a monthly rate. It was suggested that this was a simpler way of managing invoicing, and would cut down on admin time as well as potential billing errors.
To find out more about how FreeAgent can help you prepare for Making Tax Digital, visit their website.