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Screenshot of TaxCalc cashflow statement

TaxCalc adds FRS 102 to accounts production tools


Integrated compliance suite TaxCalc has boosted its accounts production offering with the addition of FRS 102 formats.

18th Apr 2023
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Designed to cater for increasing demand from larger firms that require additional disclosures or have more complex, larger clients, the initial launch includes FRS 102 formats for individual limited companies with other advanced formats for LLPs, groups, charities and others in the pipeline.

TaxCalc CEO Tracy Ebdon-Poole called the move “a natural evolution” for the vendor, bringing its products to a broader range of accounting firm customers, but insisted the move is not a departure from the developer's core user base amongst the small firm and sole practitioner market.

“We are 100% committed to further developing and enhancing products for the thousands of firms who rely on TaxCalc as an essential tool for compliance and practice management,” she added. “We remain as loyal as ever to those customers who have been so loyal to us.”

TaxCalc’s FRS 102 MLA - Medium & Large Accounts product is available as an add-on to TaxCalc Accounts Production with a price tag of £306 a year for unlimited clients. For full details or more information visit TaxCalc’s Accounts Production page.

The Wokingham-based vendor launched its accounts production tool back in 2015 targeting accounting firms with smaller clients that do not breach the FRS102 thresholds and has reported a spike in sets of accounts filed electronically, with 108% growth over the three years to date (28% in the last year alone).

The move comes at the start of what could be the biggest shake-up to the accounts production scene since the XBRL transformation of the 2010s. 

This is thanks, a least in part, to the government’s Economic Crime and Corporate Transparency Bill currently winding its way through the House of Commons, which makes it a requirement for accounts to be filed digitally and fully tagged using iXBRL with Companies House and removes the option of paper filing for most companies.

This is coupled with recent AccountingWEB research that flags a rise in the use of more connected, integrated compliance products. While still gaining traction in the wider market, these present an attractive proposition for firms looking to streamline their services.

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