Welcome To The Digital Age Of Tax

11th October 2018

Welcome To The Digital Age Of Tax

The standard practice of accounting hasn't changed much for hundreds of years. It has always been that companies hire an accountant, send across all their paperwork at regular intervals throughout the year, and then someone manually calculates and submits their tax returns.

However, the digital age has changed all of that.

The Changing Landscape Of Accounting

Instead, the so called “digital age of tax” has revolutionised the way that companies carry out their accounting processes. Yes, there is of course still a need for human accountants to oversee major transactions and important calculations. However, the internet has caused an abundance of new software to spring up which has made their job, and yours as a business owner, far easier.

Being able to manage your revenues and costs online allows you to calculate taxes digitally as well. By using an advanced cloud-based accounting software, such as Xero, you can calculate your taxes faster than ever before. And by working with an accountant who makes use of such tools, you access a whole host of benefits.

Why Going Digital Is The Way Forward

Simply put, calculating your taxes digitally will help your company to grow faster. Why? Well, here are a few key advantages you gain by making use of cloud-based accounting software:

  • It is faster for you to upload any important financial paperwork
  • There is less of a need for you to physically meet with your accountant and transfer documents
  • The accounting firm saves hours on not needing to manually process as much information and can provide businesses with more added value services - It is a safer and more reliable way for you to keep track of your company’s finances
  • It reduces costs as cloud accounting software is incredibly cheap and allows your accountant to work less

Overall, accessing the digital age of tax will help make you a much more forward-thinking company and one that can get ahead of the competition. It allows you to spend less time managing and worrying about your tax returns, and frees up more time to spend on the one thing that matters… growing your company!

Finding The Ideal Solution For Your Business

Taking full advantage of this digital age means working alongside an accounting firm that uses advanced accounting software at the heart of their processes. And one that has spent years trialing these technologies and finding ways to streamline the process of managing your accounts. Well, that’s where we come in.

We first went digital back in 2004 and haven't looked back since. By adopting digital software solutions, we have been able to vastly streamline our processes and perform the majority of our clients' needs remotely. This has the added benefits of allowing us to lower costs and improve our service.

To find out more about working with us, get in contact today.

Making Tax Digital: A Guide For Small Businesses - Long

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