In this podcast with Chris Evans, Vice President and Country Manager UK at Intuit, he reveals some of the surprising facts highlighted by a recent Volterra Partners study. Enterprise Times spoke to Evans at the QuickBooks Connect event in London where the research was launched.
It highlighted that Making Tax Digital is a catalyst to drive digital adoption. In addition, the use of other cloud-based technology coupled with the Open Banking initiative could see as much as £57 billion added to the revenue of SMEs in the UK over the next five years.
He also talks about how he sees QuickBooks as partly responsible for leading the education about the upcoming MTD requirements. QuickBooks has helped HMRC with its TV advertising campaign. This warns small business owners that they may need to submit returns shortly.
He also spoke about how QuickBooks is supporting firms to meet the new requirements. This is not just through delivering its cloud accounting software. It is about its newly launched bridging software that enables accountants to import spreadsheets. This means that small businesses not using cloud accounting can still meet the MTD requirements without a (for them) major implementation project. It will also help to avoid a significant increase in accounting fees for them every quarter.
To hear more of what Evans had to say listen to the podcast
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