Payhawk partners with Yapily for instant payment top-ups
Payhawk has announced that it has aligned itself with open banking API Yapily to enhance their Payhawk wallets.
The fast-growing spend management platform, which combines company cards, reimbursable expenses, and accounts payable in one solution, is making the move to create a seamless and instant payment experience for finance teams when upgrading their Payhawk wallets.
The integration will allow users of the London-based PayTech to easily top up their debit accounts and repay credit accounts from a linked bank account.
Guy Sear, Payhawk Commercial Director UK says, “We are thrilled to partner with Yapily to use open banking to enhance the fund top-ups experience within the Payhawk platform.
“Through this collaboration, Payhawk continues to eliminate manual processes and create efficiencies for Finance teams in the UK through an integrated all-in-one spend management solution.”
Yapily’s extensive bank coverage and single API integration means that Payhawk customers are happier than ever due to the raft on innovative features – including users now having the ability to track deposits into the platform, adding to the service’s transparency.
Stefano Vaccino, Yapily Founder and CEO says, “We are really excited to partner with such a fast-growing company like Payhawk.
“It’s a privilege to help them expand their open banking service in the UK, US and other key European markets.
“This best-in-class fintech innovation partnership can unlock the massive potential of open finance to unleash further growth for both companies. I can’t wait to see what more we can achieve together in the upcoming years.”
By Payhawk
Payhawk will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand C8.
You can register for a free ticket here.
Inform Direct: New Recruitment Drive As Client Portfolio Hits Record High
A Suffolk company is marking successful business growth by announcing an expansion of its team – to meet increasing demand and to embrace new opportunities.
Ipswich-based Inform Direct, which creates award-winning company secretarial and formations software, is now looking for people to fill three new roles: Software Tester, Business Analyst and Business Development Manager.
Back in 2011, the five founders – Henry Catchpole, Clive Gissing, Eunice Brain, Johnathan Korchak and Blaine Peakall – pooled their combined skills and experience in accountancy, law, finance and IT, forming a new business venture to create cosec software which would be easy to use and meet statutory obligations for limited companies.
Over the last ten years, the business has gone from strength to strength, both in terms of the cloud-based software product it offers and the expanding customer base. Currently more than 250,000 companies are on the platform.
CEO Henry Catchpole said: “Ten years ago the five of us sat down and hatched the plan for a new company which would deliver a practical way to handle cosec, particularly managing a large number of shareholders, dealing with complex data and submitting it to Government bodies. Today we are all still working together and serving our core market of accountancy practices and businesses.
“Central to our growth and success has been our highly skilled and loyal team and at this exciting time in our journey, we are delighted that we are now in a position to expand with three new roles which will bring our headcount to 20.
“Although our software has evolved over the years to meet new and emerging market requirements, our core focus of delivering a quality product, backed up by first-class customer support has remained. We have also been committed to creating a great place to work for our team, where they enjoy being part of what we do and feel valued for their individual contributions.”
Inform Direct will be exhibiting at Accountex Summit Manchester the 12 October 2022 at Manchester Central at stand F5. You can register for a free ticket here.
Registration now open for Accountex Summit Manchester
Accountex Summit Manchester returns for the fourth year on 12 October 2022 at Manchester Central.
The exhibition is set to welcome over 1500 attendees, including accountants, finance directors and bookkeepers from all over the north of the country.
More than 100 software and service suppliers will be exhibiting, including Sage, Xero, Wolters Kluwer, Dext, IRIS, FreeAgent, and Intuit Quickbooks. Attendees will have the opportunity to meet the teams behind the brands and get 1-on-1 demos, find new solutions and learn practical tips.
“We can’t wait to bring you our best Accountex Summit Manchester yet! We’ve got an even bigger show this year and it’s set to be unmissable.” said Accountex Porfolio Director, Caroline Hobden. “It’s a great opportunity to reunite the community, and keep up-to-date with the changing technology, legislation and regulation. And, with the introduction of home working for so many firms post covid, our shows are essential meeting places for teams to come together, whilst immersing themselves in all thing’s accountancy and finance. ”
A 2021 visitor, Heather Palmer, Director at Ascot Bookkeeping Accounting Ltd said “This was my first time visiting Accountex Summit Manchester and I certainly wasn’t disappointed. The atmosphere was incredible, and the quality of exhibitors was first class. Can’t wait for 2022!”
Visitors will also gain 8 CPD hours through the free CPD-accredited seminars led by 50+ experts, defining the future of accountancy and finance. The education programme is held across four theatres that will host 32 seminars, discussing everything from Making Tax Digital to staff retention and mindset.
A taster of the Seminar Programme…
- Taxation of Companies and Preparing for Fundamental Change in 2023
Sharon Cooke, Technical Director, 2020 Innovation
In this session, attendees will prepare to revisit some older concepts in preparation for the new corporation tax regime from April 2023. Should political events change the corporation tax horizon, a topical round up of the latest corporation tax measures will also be given.
- Social Mobility: The Secret Weapon in the Talent War?
James Lizars, Founder and CEO, Thrive Accountants and Zoe Whitman, Business Coach and Mentor.
Hosted by the ACCA, this panel will look at how to attract and retain talent and how creating opportunities via social mobility can help.
- Making Tax Digital – Our Journey and What You Can Do Now To Be Ready for 2024
Richard Fowler, Deputy Director MTD Customer Readiness and External Stakeholders, HMRC
Agents and their customers will be affected by one of the biggest changes to taxation for over thirty years. HMRC will share their progress to date and their roadmap as they move towards mandation for April 2024.
- From Fearful to Fabulous – How Overcoming Obstacles and Fear Can Revolutionise Your Life
Vicki Boddice, Director, Boddice Accounting Ltd. Tim Compton, Social Advocacy Manager, Sage. Kelli Dooren-Millott, Captain, Accounting Pirates. Francesca Tricarico, Managing Director, Future Cloud Accounting Limited.
In this session, the panel will discuss their personal experiences of overcoming various obstacles, both physical and mental. The session will be perfect for any accountant who has considered setting up their own business but has not had the courage to make that leap as well as auxiliary services to the industry where focusing on the positives results in excellent relationships being built.
Accountex Summit Manchester opens at Manchester Central from 9am-5pm on Wednesday 12 October. To register for your free ticket, please click here.
Accountex Spain to Launch at IFEMA MADRID in 2022
Diversified Communications UK have announced that Accountex, the leading exhibition and conference for accounting and finance innovation, will launch in Spain at IFEMA Madrid on 3 – 4 November 2022.
The Accountex brand is already well established, and is recognised as one of the leading, specialist accounting and finance events in the world. Around 9,000 visitors attend Accountex London every year, as it is a vital forum to keep up to date with changes in legislation and technology, and to see the latest accountancy tools from over 250 exhibiting companies. Accountex Spain is organised as a joint venture between Diversified Communications UK, who are recognised as world leaders in events for the sector, and IFEMA MADRID, the main exhibition venue in the country and one of the leading European Convention Centres.
The event launch follows intensive consultation with the leading solution providers in the sector, as well as accountancy practices and industry associations. They all recognise the need for an event which unifies the whole profession; as profound transformation takes place within Spain due to changing regulations, reporting practices and rapidly evolving technological solutions. With 5 separate seminar theatres and over 80 sessions, attendees will be able to learn first-hand about the latest changes, and what this means to them and their practices and businesses. The wide-ranging content will also include business and commercial advice, and provide attendees with the information they need to help to grow their practices in this fast changing sector.
The event already has the support of the leading suppliers and national associations who are united in their praise for this ground-breaking new event, and Diversified Communications UK continue to work with their global partner ACCA.
Javi Fondevila, co-founder and CEO of Holded, expressed: “An event of this type was needed for the professionals in this sector and I am sure this initiative will add value to all participants”.
Caroline Hobden, the Accountex Portfolio Director commented on the launch; “We are very excited to launch Accountex Spain, which comes at a crucial time for the industry. This is a really important initiative, which is being well supported by the whole sector. We are also delighted to be joining forces with IFEMA to launch the show in Madrid”.
Cristina Claveria, Event Manager of Accountex Spain, says the organisers have been overwhelmed with the support. “We were approached by several key players in the market, who asked us to launch a Spanish version of the internationally renowned Accountex show. This led to 6 months of research, consulting with the main players and associations in the market, and I have to say the response has been incredible”.
Accountex Spain is free to attend for qualified accountants, with registration opening in Spring 2022. Companies wishing to find out about exhibiting at the event, can contact Cristina Claveria at [email protected].
The event website will be launched on 15 January 2022, with full details on how to attend and an outline programme for the event.
Accountex Spain takes place at the exhibition centre IFEMA on the 3-4 November 2022. A website with full information will be launched on 15 January at www.accountexespana.es
Media enquiries to:
Tomás Santos
e: [email protected]
Jenni Sandells, Group Marketing Manager
e: [email protected]
Marianne Fernandez, Marketing Manager
e: [email protected]
Exhibitor enquiries to:
Cristina Claveria, Event Manager
Tel: +34 911 989 022
e: [email protected]
Accountex Summit North heralded a success for its face-to-face come-back show
The accounting profession were reunited last month at Accountex Summit North, which took place on 20-21 September 2021 at Manchester Central. Raring to get back to face-to-face business and networking – the long-awaited summit welcomed 1,352 senior accountancy and finance professionals.
They were there to meet over 85 global brands and cutting-edge start-ups demoing their latest services and software programmes – helping to streamline accountancy practices across the UK.
The two-day event was heralded a major success with visiting accounting professionals. Margaret Middlemass senior manager at Sagars Accountants says: “I really appreciated the chance to meet and speak to so many of our suppliers in one day and explore potential new solutions, especially after such a long period with only remote access.”
“I really appreciated the chance to meet and speak to so many of our suppliers in one day and explore potential new solutions, especially after such a long period with only remote access.”
Heather Palmer, director at Ascot Bookkeeping & Accounting Ltd says: “This was my first time visiting Accountex Summit North, but I certainly wasn't disappointed. The atmosphere was incredible, and the quality of exhibitors was first class. Can’t wait for 2022!”
World-class Keynotes
Alongside the buzzing exhibition floor, the conference ran a world-class keynote programme with talks that covered pertinent topics in the world of accounting – including Making Tax Digital, starting up a practice, flexible working, and the future of accounting.
Chartered accountant Sharon Turner says: “It was great to see other business leaders sharing their successes (and failures!) and providing insights into the accounting world. It’s so useful to network and see how other firms are managing upcoming changes.”
“It’s vital for accountants to be at Accountex Summit North and to talk with people about the new developments in the industry."
Accountex speaker, author and trainer at Profit First Professionals, Femke Hogema says: “It’s vital for accountants to be at Accountex Summit North and to talk with people about the new developments in the industry – because you can only be a profit advisor if the fundamentals and basics are done by effective systems, so you have more time to help your clients. And that’s why this event is so important!”
‘Highlight of the year’
Exhibitors were also excited to get back to meeting potential clients away from a virtual setting, made evident by the glowing testimonials across the show-floor.
Jenny Fogarty, director of marketing and sales operations at AutoEntry says: “Accountex Summit North has been a great show, it always is. It’s one of the highlights of the year for us and our team. It’s great to be back here, especially after Covid! We’ve missed meeting our customers face-to-face and also meeting other suppliers to find out what’s going on in the industry.”
“Accountex is one of the most important events in the accounting industry."
Verifying the value of the show, Sage’s senior marketing manager, David Watson says: “Accountex is one of the most important events in the accounting industry. It’s important for Sage, one of the market leaders, to be present here as we’re committed to our clients, accountants and bookkeepers in the UK. Plus, we’ve had lots of traffic and a big increase on the number of leads since 2019 from being here.”
11% more attendees
Event organisers Diversified Communications UK were thrilled to see the industry have a strong appetite for face-to-face events yet again, and plans are now well underway for the London edition of Accountex.
Accountex Portfolio Director, Caroline Hobden commented: “Arguably the most important event in many years, Accountex Summit North 2021 delivered an almighty punch when it returned to its Manchester Central home last month. Attendees gladly said goodbye to the virtual world for the first time in over two years when they were finally able to come together to celebrate not only the accounting and finance profession, but also their shared love of in person, face-to-face events.
“Arguably the most important event in many years, Accountex Summit North 2021 delivered an almighty punch when it returned to its Manchester Central home last month."
We must extend a huge thank you to all the exhibitors and visitors who, along with our committed team, took the plunge back into the physical world of events. This united front has helped to shape an incredible event that welcomed 11% more attendees than 2019, which in the current climate is incredible. With a visible light at the end of the tunnel, and an overwhelming need for live events, the next one to look forward to is Accountex London 2022, taking place on 11-12 May at ExCeL London.”
Accountex Summit North 2022
Accountex Summit North will return to Manchester Central on 12 October 2022. For more information and to keep up with the latest news about the event, please visit www.accountex.co.uk/summitnorth.
Accountex will take place on 11-12 May 2022 at Excel, London. To register for a free trade ticket, please visit www.accountex.co.uk.
The top five reasons to migrate
Over the years, we’ve talked with many customers that made the decision to come over to Sage Intacct. Through that process, five themes emerged as key drivers to move to the cloud. Let’s take a closer look at what they are.
1. You’re doing too much of your reporting in excel. Let’s start off by saying that the reporting that comes with Sage 50cloud is great at doing what it is designed to do. Financial statements and reports based on the chart of accounts? No problem. However, as the customers we spoke to developed a need for more complex reporting, they outpaced what Sage 50cloud provides. Additionally, they were unable to ‘slice and dice’ their data in the ways they needed, because they lacked dimensions and calculated fields.
Key sign: A significant amount of your reporting happens in Excel.
2. Your multi-entity consolidations take hours to days. Developed as an on-premises solution, Sage 50cloud wasn’t built to handle the needs of organisations that often have multiple business entities. Customers mentioned that starting up a new entity often felt like a new implementation. Customisations had to be reconfigured, the chart of accounts had to be rebuilt, and all the entities were siloed off from each other.
Key sign: Your closing of books takes several days and you have more than two entities.
3. You need to access your system remotely. Numerous customers touched upon the flexibility of being able to work anywhere, anytime, as a big advantage when migrating to Sage Intacct. Previously, they only had two choices; work from the office or set up a remote-access server. The former often led to long hours and weekends away from their families, while the latter meant investing in the infrastructure and additional IT headcount to keep it up and running. As an on-premises solution in Sage 50cloud, as the number of users and transaction volumes grew, the performance of the solution began to decline.
Key Sign: You’re forced to be in the office to work, your system has slowed to a crawl, or you’re not on the most current version.
4. Your integrations have been replaced by manual workarounds. A lot of small to medium-sized businesses aren’t looking to replace all of their business-critical solutions with an all-in-one suite. And, as is often the case, industries have specific needs that are only met by those best-of-breed vendors. When those systems aren’t able to communicate, integrations are replaced by manual workarounds.
Key Sign: Manual workarounds have taken the place of integrations.
5. You have unscalable, error-prone manual processes. It’s really easy for inefficient processes that work when you’re just starting out to gradually become ‘standard operating procedure’ even though they are unable to scale, often requiring you to hire additional headcount as your business grows. Without automation for processes like PO approvals, invoice generation, payment processing, and currency conversions, it’s easy to lose days of productivity to manual processes. These manual processes ultimately impacted their ability to grow efficiently.
Key Sign: Manual processes have become standard operating procedure.
This is a guest blog from X3 Consulting. They are exhibiting at Accountex Summit North 2021 on stand J10.
4 ways to find out whether your project qualifies for R&D tax credit
Often businesses are unaware that the projects they are working on qualify as R&D and thus allows them to claim R&D tax credits. They might be too preoccupied with the actual running of a business to investigate. They might not even be aware of the opportunity to claim R&D tax credits on their projects.
It’s therefore especially important for SMEs to know what projects they can claim for, as they will benefit the most from the financial boons.
(headline in bold) What qualifies a project as R&D (headline in bold)
To break it down, your client should consider if they can answer the following four questions. This will help them figure out if a project qualifies for R&D tax credits. If the project achieves any of the following, it can qualify as R&D.
1. Does the project overcome uncertainty?
Uncertainty exists when an expert in the relevant field doesn’t know how something gets done, or if it is even possible. All available evidence should be on hand when deciding if there is uncertainty. It will help to get experts from within the company to review whether there was uncertainty or not. It is also possible to enlist the judgement of external experts. However, those that have worked on the project themselves will be most knowledgeable.
In overcoming this uncertainty, your client’s project will be on the frontline of technology within the field. Furthermore, the existence of uncertainty shows your client’s company has forged wholly original ideas and methods in the project.
2. Has it sought a scientific or technological advance?
The purpose of the project must be to benefit the field as a whole, not only your client’s business. In other words, every business within your client’s industry should be able to utilise the advancement their project will result in. For example, developments in food technology resulting in vegan alternatives that are easier to produce. This will lead to lower production costs, allowing food companies to reduce prices for consumers.
What if a service, product or process gets developed by another company? It can still be an advance even if it is not publicly available or known about.
3. Can your project show research, testing and analysis have taken place?
This is the equivalent of showing your working in a math question. Your client should be able to prove their project has undergone changes and overcome obstacles. The trial and error of researching, testing and analysing shows the difficulty of the work. It also justifies the importance of the project.
This is an essential aspect of the technical narrative, which is a crucial part of the R&D tax credit application. Therefore, it’s worth considering at an early stage if your client has the necessary project data to support their claim. Detailing the inner workings of the project will also help show how your client overcame the uncertainty in their project.
4. Could another professional in the field conduct this work?
The answer here should be no, as it shows your client’s advance is covering new ground. Keep in mind your client will have their own professionals working on the project. They will be able to explain the difficulties and uncertainties they face. Otherwise, finding previous unsuccessful attempts at finding a solution will provide an answer.
Unsuccessful projects or projects currently in progress can still qualify for R&D tax credit claims, so don’t dismiss these out of hand.
This is a guest blog from made.simplr. They are exhibiting at Accountex Summit North 2021 on stand H12.
How technology supports, not replaces, accountants
The accountancy profession is going through a period of transition due to the adoption of digital technologies. Accelerated throughout the COVID-19 pandemic, the adoption of technology has increased at a rate that no one could have predicted.
71%¹ of businesses are more dependent on technology. 68%² of businesses believe digital technologies are benefiting the delivery of services. It is important to understand how digital technologies are aiding professions and not making them obsolete. Embracing digital technologies can enhance roles and transition their value.
The accounting profession's adoption of technology moves slower than the average profession. Finance and accounting teams still spend as much as 80%³ of their day on manual data gathering, data inputting and admin tasks. Tasks, according to McKinsey⁴, could be automated using digital technologies. McKinsey found that digital technologies can automate “general accounting tasks”. Whereas “business development tasks” needed an accountant's knowledge and expertise.
Such stats reveal how digital technologies can aid accountants. Leaving more time to spend on tasks that technologies cannot replace. This is where accountants need to realise how digital technologies can transition their roles. Roles that no longer require admin and manual input. But roles that focus on business development, financial advice and business insights.
Digital technology use may appear daunting for the accountants who spend 80% of their time on manual tasks and traditional processes. But digital technologies exist to aid. From automation and AI technologies, to digital service delivery and data analytic tools. Automation technologies can replace data inputting and manual admin tasks. Digital service delivery can expand an accountant’s base and connect customers easier than ever before. And utilising data analytic tools will enhance the profession's role to that of a business adviser.
Reducing manual tasks with digital technologies, provides accountants the space to be strategic with their customers and to ultimately help their business grow.
The change in accountant's roles will only enhance the profession. So much so that The Bureau of Labor Statistics projects 10%⁵ growth (faster than average) for accountants and auditors from 2016-2026. Accountants need to show their customers that their role is changing. That the adoption of digital technologies allows the accountant's role to be even more valuable. Embrace technology and be more relevant for your customers than ever before.
Sources:
¹ and ² https://www.techuk.org/resource/survey-results-lockdown-and-changing-attitudes-towards-tech.html
³ https://www.adaptiveinsights.com/sites/default/files/assets/Adaptive-Insights-CFO-Indicator-full-steam-ahead-automation.pdf
⁴ https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/bots-algorithms-and-the-future-of-the-finance-function
⁵ https://www.bls.gov/ooh/business-and-financial/accountants-and-auditors.htm
This is a guest blog from Unifiedpost Group. They are exhibiting at Accountex Summit North 2021 on stand J16.
Improve your analytics and forecasting with verified actionable data
Every business needs an insight into its current position and an understanding of what’s coming in the future. With Xero launching its new Xero Analytics Plus tool, cash flow prediction becomes a much simpler task.
The importance of data for insights and forecasting
Of course, whichever tool you’re using, the key to accurate reporting and forecasting is high-quality data – structured, verified and enriched with business context. An absolute must for making informed business decisions. Financial performance indicators can go far beyond what traditional accounting can do, they actually give an outlook on the business as a whole. The main focus here is understanding the company’s financial health as well as finding effective ways to move the business forward.
So, for quality insights and forecasting all expenses have to be coded properly in the accounting system. This builds a reliable basis for cash flow forecasting, cost projections, expenditure structure and much more.
A well-established granular authorisation system adds greatly to data quality; its setup includes various expense authorisation levels, custom authorisation criteria, rules for authorisation delegation and fraud monitoring procedures. A clearly defined authorisation process enables accounting practices to share accountability with the client, create the base for accurate financial projections and advise clients on their financial performance.
Validating data in ApprovalMax
When bills enter ApprovalMax, they first get reviewed and coded. In this step, the accounts and tracking categories are checked to confirm that the spend allocation is correct. It’s also possible to match bills and corresponding purchase orders in ApprovalMax, which includes copying certain information such as the bill's coding from the original purchase order.
After this initial control, usually performed by the practice, bills are routed through the defined approval workflow on the client side. ApprovalMax runs a fully automated multi-step and multi-role authorisation process, which is based on one or several criteria pulled from the accounting system (supplier, amount, GL code, tracking category, etc.). The highly flexible approval matrix can easily be extended to suit growing businesses with increasingly complex spend tracking patterns and progressively more approval criteria that need to be taken into account. ApprovalMax reflects the delegated authority for the business and enforces internal controls.
Completing the ApprovalMax review and approval process ensures that only authorised and properly coded bills enter Xero to provide a reliable basis for accurate reporting and forecasting.
This is a guest blog from ApprovalMax. They are exhibiting at Accountex Summit North 2021 on stand B11.
How to communicate to your clients about MTD
The next phase of Making Tax Digital (MTD) for VAT and the introduction of MTD for Income Tax Self Assessment (ITSA) are fast approaching. With these deadlines on the horizon, it’s important that your clients understand how the MTD initiative will affect them and know what steps they need to take to remain compliant. With this in mind, award-winning software provider FreeAgent has put together the following tips to help you get your client communications off to a flying start.
This content was originally published at https://www.freeagent.com/blog/mtd-client-communications/
Put your clients into groups
Before you start sharing information about MTD, you might want to review your customer base and consider how the initiative will impact different types of clients. You may have some clients who are already using accounting software like FreeAgent and others who don’t yet keep digital accounting records. Some may be affected by MTD for VAT, others by MTD for ITSA, and some might be affected by both. A diverse range of clients means that a one-size-fits-all approach to communications is unlikely to be effective. Instead, you may wish to separate your clients into groups and tailor your messaging to fit the needs of each one.
Draw up a communications plan
Taking the time to plan how to speak to your clients about MTD will help you ensure that your communications are as efficient as possible. Try to detail what message you want to communicate to each group of clients and when you want to share it. While you certainly want to keep your clients informed about MTD, it’s important to avoid bombarding them with so many messages that they can’t stay on top of everything. By prioritising your MTD messaging and choosing a particular time and day to get in touch with your clients, you can avoid overloading them with information and make sure they don’t miss important details.
Choose your channel
Your method of communication is every bit as important as the content. It’s also important to consider which methods of communication your clients will be most receptive to. Here are some communication channels to consider:
Email newsletters
Email newsletters can be an efficient way of sending regular updates to your client base. By sticking to a regular schedule (e.g. once a week or once a month), you can keep your communications consistent and your clients will know to look out for them. You may decide to finish each email with a checklist of tasks your clients should complete or a hyperlink to encourage them to read more on the topic. If you’d like your newsletter to engage with prospective clients, consider adding a message on your website to encourage them to join your mailing list.
Social media
You can use social media platforms such as Facebook, Twitter and LinkedIn to share your MTD messages and even spark discussions on related topics. It’s also important to think about the types of content that you want to share. For example, an infographic or a quick summary of the important MTD deadlines may resonate on Facebook better than a long post on how MTD will impact landlords, which could be better suited as a blog post.
Blog posts
If you’re keen to share your insights into MTD, consider writing blog posts for your clients and publishing them on your website. As some aspects of the initiative may require a little more explanation than others, you may want to create blog content that tackles the most important details or answers the most frequently asked questions. Although a blog post may take a while to research and write, it could prove invaluable in the long run, as you can point clients to it whenever they have a query as well as sharing it on social media platforms and linking to it from your newsletters.
Virtual events
By hosting an engaging webinar, you can speak directly to your clients about MTD and answer multiple questions in one session. This can bring a more personal feel to your communications, which your clients will hopefully both enjoy and appreciate. By hosting webinars for particular groups of clients, you can home in on the specific aspects of MTD for VAT and MTD for ITSA that will impact them. You may also wish to invite other experts along to reinforce your messaging. For example, FreeAgent’s team of MTD experts can join your webinar to talk your clients through using digital accounting software and explain the benefits of digital record keeping. By hosting webinars, you might also get a better understanding of which of your clients are engaged and which ones have yet to prepare for the changes.
Reassure your clients
MTD may feel daunting to many business owners but by reassuring your clients that you’re able to support them through the change, you can help to put their minds at ease. Highlighting the benefits of digital record keeping could also help to put your clients in a more positive frame of mind around MTD. From giving them a clearer understanding of their tax responsibilities to reducing the risk of invoicing errors, MTD could have major long-term advantages for your clients. You can read more about the advantages of MTD and other myth-busting information in this handy guide.
If you’re looking for a more tailored approach to your client communications, you can arrange a free 30-minute consultation with one of FreeAgent’s MTD experts.