Survey reveals accountancy firms’ frustrations with Making Tax Digital
BTCSoftware has published a new white paper following a survey of small and medium sized accountancy firms, and those firms’ current attitudes to Making Tax Digital (MTD).
Following the announcement of the delay to MTD in the summer, BTCSoftware canvassed the opinions of small and medium-sized accountancy practices as to what they thought of MTD going forward.
What you’ll find in the survey results
- What accountancy firms thought to be the benefits of MTD for their practice
- What they considered MTD’s benefits were for their clients
- What drawbacks they envisaged MTD would bring to their practice
- Given the optional element to MTD, when accountancy firms intend to move over their practice systems, software and clients over to a MTD compliant solution
Despite the changed timetable for MTD’s rollout, the overall sentiment emerging from the accountancy practices surveyed was one of deep scepticism and frustration. There are a number of key messages for HMRC in the survey findings, if it wants to wants to improve the digitisation of the UK tax system and bring SMEs, in particular, over to digital accounting.
How BTCSoftware is helping accountancy practices with MTD
BTCSoftware are continuing to work closely with HMRC on its Digital Accounts projects so that when Making Tax Digital (MTD) becomes completely mandatory (and BTCSoftware believes it will), its software is ready and easy to use. It wants to aid its customers migrating their clients over to MTD seamlessly and as effortlessly as possible.
BTCSoftware is already MTD-compliant with the API’s HMRC has released prior to the end of October 2017.