Since the accounting professional bodies have failed to protect the title accountant I guess anyone, including my window cleaner, can call themselves one.
You can dress like a lion, roar like a lion and make people call you a lion, however it doesn't make you a lion.
I should add that all the bookkeepers who I have dealings with are both excellent at their job and would never contemplate trying to pass themselves off as an accountant. Perhaps Gary Carter should do a better job representing them.
Ignoring the fact I don't like the new site as much as the old for the same reasons that many have stated here are some issues I'm having that if you could fix would improve my experience greatly:
1. Not having the edit button within your post
2. Comment box being at the top
3. Not having poster avatar for quick reference
4. Menu bar doesn't follow you down the page meaning you have to scroll back to top to navigate elsewhere.
5. Once in an area, such as blogs, the menu bar loses its drop down menu options.
6. The site only utilises around 1/3 of my wide screen desktop monitor.
7. I'm not blind so how about we scale everything down just a fraction. Doesn't need to be a huge downscale.
8. My roller mouse is overheating from all the scrolling, see above comments.
9. The comment box is tiny (Ah I've just discovered you can stretch the box), could still do with come extra width though.
10. Despite telling the site to remember me I seem to have to login on a regular basis. The old site kept me logged in indefinitely.
One size certainly doesn't fit all and I don't see this as being a suitable app for all client types, far from it in fact. However I could see this being of benefit to some client types.
Paypal is a payment method, there should be a supplier invoice to back that payment up, so in theory at least 1Tap receipt should be able to handle this.
There is of course the underlying issue of bank recs, Paypal account recs etc. That's why I see this app as being more suited to small scale, mainly cash based businesses or having to be used in conjunction with a proper bookkeeping programme.
I haven't used receipt bank so can only make this judgement based on what I have read but the basic principle of the app seems quite interesting for micro businesses.
The key thing for me is to have a basic record of all the expenses and copy invoices attached. If the information is then exportable into a spreadsheet etc you can easily amend it. This is by no means a miracle cure but is in my opinion a positive step forward from a bag of receipts.
The two concerns I have is, firstly the app is indicating which box to put the information into on the tax return and secondly will it incorporate a submit to HMRC button in he future? Both of these factors would clearly indicate that their intention is to bypass the need for an accountant!! If they remove the first issue and create a submit to accountant ONLY button then I would happily push small contractors, window cleaners, hairdressers etc etc in the direction of this app. Unfortunately as long as they're putting indicators that the app can in fact replace accountants, when it clearly can't, I could not support it. Up to you receipt bank!
I think you're missing the point Tom. He's not saying you have to be a big personality and be a flamboyant person. Firstly you have to have the correct skill set (technical skills as you mention) but once you've gotten that then you must be a good fit for the businesses culture. That could be quite the opposite of what you're suggesting, it depends on the business and existing staff culture in question.
"Quarterly updates will largely be a matter of checking data generated from record keeping software or apps and clicking 'send'."
Is it possible for HMRC decision makers to be any further detached from reality? It's frightening!
Also how can you get a "real time view of your tax affairs" without calculating capital allowances, farmers averaging, capital gains and disposals, stock levels, WIP, herd basis adjustments etc etc. I take it these wonder apps that they seem to believe every business already use handles all of these elements by the click of a button as well?
Has anyone actually determined what percentage of business owners in the UK currently use accounting software or apps to record their transactions? What percentage of these existing users then record their income and expenses correctly without error?
What a waste of tax payers money and company resources implementing a system that is utterly doomed to make no positive difference to HMRC. The software 'professionals' that sold them on this idea must be rubbing their hands together with glee. I imagine the people from HMRC pushing for this change will all end up with top paying jobs at Xero or Sage once implemented. I can only assume that this is corruption in action, at least that would make sense, because if someone in power actually believes this is a positive change for HMRC & UK business the mind boggles.
It's going to be four near meaningless returns followed by the actual tax return. What's the point?
My answers
Since the accounting professional bodies have failed to protect the title accountant I guess anyone, including my window cleaner, can call themselves one.
You can dress like a lion, roar like a lion and make people call you a lion, however it doesn't make you a lion.
I should add that all the bookkeepers who I have dealings with are both excellent at their job and would never contemplate trying to pass themselves off as an accountant. Perhaps Gary Carter should do a better job representing them.
Thanks for the update Ben, keep them coming.
Ignoring the fact I don't like the new site as much as the old for the same reasons that many have stated here are some issues I'm having that if you could fix would improve my experience greatly:
1. Not having the edit button within your post
2. Comment box being at the top
3. Not having poster avatar for quick reference
4. Menu bar doesn't follow you down the page meaning you have to scroll back to top to navigate elsewhere.
5. Once in an area, such as blogs, the menu bar loses its drop down menu options.
6. The site only utilises around 1/3 of my wide screen desktop monitor.
7. I'm not blind so how about we scale everything down just a fraction. Doesn't need to be a huge downscale.
8. My roller mouse is overheating from all the scrolling, see above comments.
9. The comment box is tiny (Ah I've just discovered you can stretch the box), could still do with come extra width though.
10. Despite telling the site to remember me I seem to have to login on a regular basis. The old site kept me logged in indefinitely.
@JohnJenkins
One size certainly doesn't fit all and I don't see this as being a suitable app for all client types, far from it in fact. However I could see this being of benefit to some client types.
Paypal is a payment method, there should be a supplier invoice to back that payment up, so in theory at least 1Tap receipt should be able to handle this.
There is of course the underlying issue of bank recs, Paypal account recs etc. That's why I see this app as being more suited to small scale, mainly cash based businesses or having to be used in conjunction with a proper bookkeeping programme.
Interesting
I haven't used receipt bank so can only make this judgement based on what I have read but the basic principle of the app seems quite interesting for micro businesses.
The key thing for me is to have a basic record of all the expenses and copy invoices attached. If the information is then exportable into a spreadsheet etc you can easily amend it. This is by no means a miracle cure but is in my opinion a positive step forward from a bag of receipts.
The two concerns I have is, firstly the app is indicating which box to put the information into on the tax return and secondly will it incorporate a submit to HMRC button in he future? Both of these factors would clearly indicate that their intention is to bypass the need for an accountant!! If they remove the first issue and create a submit to accountant ONLY button then I would happily push small contractors, window cleaners, hairdressers etc etc in the direction of this app. Unfortunately as long as they're putting indicators that the app can in fact replace accountants, when it clearly can't, I could not support it. Up to you receipt bank!
Brilliant
Haha, well done FT. I particularly enjoyed the practice guru functionality being turned off.
Missing the point
I think you're missing the point Tom. He's not saying you have to be a big personality and be a flamboyant person. Firstly you have to have the correct skill set (technical skills as you mention) but once you've gotten that then you must be a good fit for the businesses culture. That could be quite the opposite of what you're suggesting, it depends on the business and existing staff culture in question.
Link
Nicdell if you click on the word petition in the first sentence of the article it should take you to the correct place.
The mind boggles
"Quarterly updates will largely be a matter of checking data generated from record keeping software or apps and clicking 'send'."
Is it possible for HMRC decision makers to be any further detached from reality? It's frightening!
Also how can you get a "real time view of your tax affairs" without calculating capital allowances, farmers averaging, capital gains and disposals, stock levels, WIP, herd basis adjustments etc etc. I take it these wonder apps that they seem to believe every business already use handles all of these elements by the click of a button as well?
Has anyone actually determined what percentage of business owners in the UK currently use accounting software or apps to record their transactions? What percentage of these existing users then record their income and expenses correctly without error?
What a waste of tax payers money and company resources implementing a system that is utterly doomed to make no positive difference to HMRC. The software 'professionals' that sold them on this idea must be rubbing their hands together with glee. I imagine the people from HMRC pushing for this change will all end up with top paying jobs at Xero or Sage once implemented. I can only assume that this is corruption in action, at least that would make sense, because if someone in power actually believes this is a positive change for HMRC & UK business the mind boggles.
It's going to be four near meaningless returns followed by the actual tax return. What's the point?
RSM Tenon springs to mind but I would agree Tom 7000 it does seem baffling that accountant/business advisors can get themselves into such a mess.