Navigating MTD for Income Tax with your clients
Choosing the right tech for your practice
So far, we’ve already taken a look at what MTD means for small business clients and how to segment your client base to maximise your communication.
However, before you start reaching out directly to clients, it’s important that you have a clear idea of the digital tools you’ll be recommending to them and why.
The new Making Tax Digital for Income Tax rules mean that using digital tools is no longer a choice. To comply with the legislation, clients need to use MTD-compatible software to keep digital records and make submissions to HMRC electronically.
For all three groups, it’s crucial to recommend software that strikes a balance between ease of use and functionality. Forget the complex, corporate-grade systems – small businesses need tools that simplify their lives, not complicate them.
FreeAgent’s intuitive features make it the perfect fit for small clients. Once clients have set up their bank feed, transactions flow automatically into their account, and they can use the mobile app to upload receipts and expenses from anywhere.
When it comes to MTD, FreeAgent offers:
- An end-to-end MTD solution, meaning you can file clients’ quarterly updates and final declarations directly from FreeAgent without having to use another piece of software.
- A version of FreeAgent built specifically for landlords, which gives them a clear, up-to-date picture of how each property is performing - not just at tax time, but all year round.
- Free licences for clients with a NatWest, Royal Bank of Scotland or Ulster Bank business current account, or Mettle bank account.*
FreeAgent’s intuitive MTD for Income Tax solution
And don’t forget, accounting software should make life easier for your practice, too. At the heart of FreeAgent is a powerful engine fuelled by automated features designed to free accountants from time-consuming daily admin. Reconsenting bank feeds, explaining bank transactions, and categorising expenses can all be done in bulk in just a few clicks. Throw in robust reporting, an ever-growing list of integrations, and unrivalled human support from accounting experts, and you’ve got a solution that will support your practice through MTD and beyond.
Why choose FreeAgent?
- A simple, intuitive interface that makes life easier for your clients
- An award-winning mobile app so they can stay on top of admin, wherever they are
- An end-to-end MTD solution, ready for quarterly updates and final declarations
- Time-saving tools that let you explain multiple transactions at once and easily reconsent bank feeds in bulk
- Real human support from people who understand accounting
*For as long as they retain their account or make Mettle their primary business account in FreeAgent. Optional add-ons may be chargeable.