Everywhere you look at the moment, you see change on the horizon. Accounting is no exception. The next few months present accountants with some big challenges and uncertainty, and will test the mettle of businesses nationwide.
The big one for accountants, of course, is MTD. Come April, VAT takes the first steps towards tax being fully digitised. MTD might be starting small, but it has big implications for accountants reluctant to modernise. VAT may be easy to digitise, but as more and more taxes are moved onto digital formats, accountants will need to be sure they are keeping up, or else risk being left behind.
The other big challenge, of course, is the dreaded B-word. With the political and economic situation still up in the air, accountants nationwide are buckling down for a potentially tumultuous period where they have no idea what’s going to happen.
But how has this affected AIMS? Well, we can’t predict the economic situation, but you can be sure that our clients are in safe hands. Our priority is always our clients, and that includes making sure they’re as prepared as possible in case the worst were to happen.
On the MTD side of things, we’ve been making sure that all AIMS Accountants are properly prepared. Not just for VAT, but also its eventual move across the tax system. Why make piecemeal changes every year, when we could just make one big change and be done with it?
January brought self-assessments galore across the network. Whilst many accountants would be scrambling to get everything in, AIMS Accountants buckled down and got returns done quickly, professionally and well within the deadlines. Whilst current clients were having their tax returns ably handled, we turned our eyes to prospective clients. We launched the first “specialised service” page on our website, where you can get your details to an AIMS Accountant who specialises in your issue!
The future could bring chaotic times. However, at AIMS we’ll always be prepared to do what we do best – help our clients grow and thrive in every way we can!