PTP founder and TAXtv presenter Tim Good is back in the software business as the founder and managing director of Absolute Accounting, a Biscester-based provider of tax, practice and compliance programs.
The popular tax lecturer sold his interest in PTP Software to IRIS in 2005, but after the non-compete clauses in the deal expired he was tempted back into the market by the opportunities presented by the move to online filing for Corporation Tax and statutory accounts in the new iXBRL format.
A closer examination of the core Absolute Accounts and Absolute Tax applications reveals they are rebadged versions of products from Milton Keynes-based Forbes Computer. David Forbes has been at the forefront of XBRL developments and was the first UK company to submit abbreviated accounts in the eXtensible Financial Reporting Language in 2005.
“David is a techie, who isn’t so interested in the marketing and support side of things,” Good said. “So we saw the opportunity to get involved as a distributor for the products and Absolute is the result.”
Describing the company as a supplier of “best of breed software at the most competitive prices”, Absolute has negotiated deals to distribute ClientBase Time and Fees and practice management tools, plus a variety of personal tax, payroll and company secretarial applications. The iXBRL-compatible Absolute Accounts program costs £100 for 1-10 sets of accounts, rising to £430 for 100+ accounts. Prices for the tax and practice tools range from £40 to £430 per individual module, with “combination” packs comprising different tax bundles available for £340-£540.
In addition to its involvement with Absolute, Forbes is also working with DataTracks to offer an outsourced iXBRL tagging service for UK accountants. With data processing handled by TaurusQuest of India, DataTracks uses Forbes software to output final accounts in iXBRL format and is recognised by HMRC as complying with its submission and validation checks. The service operates via an online portal to which customers upload their accounts, and will open for business on 1 April.
About John Stokdyk
John Stokdyk is the global editor of AccountingWEB UK and AccountingWEB.com.