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5 reasons to digitise your accounts in 2023

HMRC have recently announced the delay of the introduction of the Making Tax Digital for Income Tax Self-Assessment (MTD for ITSA) scheme until 2026. This delay will give those in scope more time to prepare and will reduce the risk of HMRC systems and support services becoming overwhelmed when the deadline hits.

Important Year-End Processes for Cloud Software Users

Unlike traditional desktop accounting systems, cloud software packages (including QuickBooks Online, Xero and Sage Cloud) do not have a separate and structured year-end process.

There are however, a couple of important steps that we recommend you take once your year-end has passed and all transactions relating to that year have been posted.