2020 seems to already be flying by for Smarter Accounting.  We’ve been busy in the early part of the year, ensuring that tax returns are filed for the self assessment tax return deadline at the end of January and are delighted that our clients have been pleased with our efforts.

We have an exciting year coming up.  As a practice, both Crediton and Teignmouth offices have seen incredible growth levels over the last few years and we are very much seeing that continuing in early 2020.  We have a strong team across the firm and our teams are well equipped to support all clients, new and old in the coming year.  We think that we have our strongest team ever!

As always, we will keeping abreast of the tax changes facing us and helping to support our clients. The tax and accounting world seems to be one that is ever changing and 2020 promises to be no different. On the horizon we have a number of changes that we need to monitor for impact on our clients:

  • HM Revenue & Customs Continued roll out of Making Tax Digital – Timetable constantly changing!
  • Private Sector IR35 Changes – From April 2020
  • Construction Industry Scheme (CIS) VAT Changes – October 2020
  • New Government Budget – March 2020

The budget needs to be closely monitored as have a new government and a new chancellor.  We are hearing various rumours about tax changes and the upcoming budget will hopefully give us details of upcoming changes and give us an idea of future changes.

In terms of Smarter Accounting we have a few of our own changes coming up including an exciting move for one of our offices.  We are delighted to announce our Platinum status with market-leading software provider Xero and continue to offer great deals for existing and new clients.  The highest level of partnership with the provider means that Smarter Accounting is now in the top two percent of Xero partners nationwide and one of only 3 firms in the whole Devon region.  The team at Smarter Accounting have worked with Xero for a number of years, and with the latest technological changes driven by HMRC now in place, the cloud-based software specialist has become the provider of choice for many of our clients’ businesses.  Moving to a fully automated digital solution like Xero enables many advantages for clients.  They can make better use of having rapid access to the financial information that they collect, and also free up time and resources to focus on improving other areas of their business.  We’re proud that our team have a lot of experience with digital accounting software, so we can provide training, advice and follow-up support to clients who make the move.

Stay tuned for more news, and don’t hesitate to contact us if you have any queries or questions about how we can help you.

Shaun Lee, Partner.