Baldwins: Making Tax Digital
On the 13th of July 2018 HMRC announced their MTD software list here.
HMRC have confirmed the timelines that we have been preparing towards for some time and we can confidently say that Baldwins is MTD ready.
Most accountants (75%) have not even began preparing for MTD. The 25% that have started preparing in the UK only 5% are truly ready to embrace MTD as their systems are in place to facilitate the process.
Baldwins has been preparing for MTD over the last 18 months, all our offices spanning the UK along with those firms that are part of our wider Baldwins Group are MTD ready. We have partnered with multiple software providers and attained the below key certifications to enable us to serve our clients effectively and assist with cutting edge technology. Baldwins are the first firm to attain Platinum status with all the major accounting software suppliers approved by HMRC, giving our accountants the ability to advise clients considering their needs and not systems that suit the accountant’s internal processes.
Being MTD ready does not only require the ability to link with clients who use cloud accounting software, we have invested in technology allowing us to do submissions on behalf of our clients. Many businesses use bespoke systems or desktop software which cannot be cost effectively upgraded to match HMRC’s MTD requirements or timelines. In this scenario the accountants MTD service becomes critical.
As a CogitalGroup company we are developing a client portal which will allow us to give our clients the ability to launch software applications for accounting, reporting, cashflow forecasting, collections and operations. With GDPR coming into play earlier this year this software allows clients to exchange documents digitally in a fully encrypted environment, upload financial reports required for our accountants and tax teams to submit MTD reports as an agent.
Our technology meets all clients MTD obligations and affords our clients options best meeting individual needs.
- Cloud accounting software directly integrates to our MTD Module. Clients can self-submit, and records seamlessly sync via our technology. Baldwins can submit as an agent utilising the same technology for cloud accounting clients.
- Portal upload to Baldwins of CSV/Excel data. This service applies to clients who currently keep their records in Excel or clients with desktop software that is not MTD compliant but can export reports to CSV or Excel format. We can submit for clients as their agent.
- Finally, Baldwins can accommodate various applications due to extensive software packages we maintain to serve our clients compliance requirements. Our technology can extract data from multiple accounting software solutions which allows us to submit as their agent.
As a firm the investment in technology has allowed us to be one of the 5% of UK firms that is truly MTD ready. Baldwins is also Triple Platinum.