It doesn't have to be cloud-based, just digital. So a desktop product would be fine, but it needs to be able to communicate with HMRC's API, so an internet connection will be vital.
Serious question. I'd be interested to know what's the process in getting such advertorials written about one's company and published in this way. Do you pay? Do you need to know the right people?
I think the first thing CIMA should be doing, if they want this standard to be taken seriously, is to make the standard available for free on their website. Putting an £80 price tag just to read it will not encourage adoption.
Where does it say that though? Given that things that were announced in the budget aren't going to be happening, surely less likely if it's *not* announced. I would take the business event this was reported from with a pinch of salt.
My answers
Any business with a turnover of below £85k is now exempt, per the Gov't announcement.
HMRC will need a new analysis code in their MTD minimum reporting specification to cope with this.
It doesn't have to be cloud-based, just digital. So a desktop product would be fine, but it needs to be able to communicate with HMRC's API, so an internet connection will be vital.
I was surprised Taxfiler didn't get a mention in the write up. Esp as the Quickbooks team were referencing them in their add-on suite.
PS I have no connection with Taxfiler - other than as a (as yet) potential customer.
Serious question. I'd be interested to know what's the process in getting such advertorials written about one's company and published in this way. Do you pay? Do you need to know the right people?
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Are you suggesting the standard is on there? Or just lots of stuff to do with management accounting.
£80
Apologies for the double post
I think the first thing CIMA should be doing, if they want this standard to be taken seriously, is to make the standard available for free on their website. Putting an £80 price tag just to read it will not encourage adoption.
Classic comment
"Organisations have been doing [insert what they've been doing] for years – why would they change?"
You're right. Why bother?
Where does it say that though? Given that things that were announced in the budget aren't going to be happening, surely less likely if it's *not* announced. I would take the business event this was reported from with a pinch of salt.
It refers to those who keep their tax records digitally - nothing about compulsion