As a sole trader or business owner, you are required to keep detailed records of your expenditure to submit to HMRC. As we all know, this can be a tedious and time-consuming task, particularly when it comes to handing all sorts of crumpled receipts to your accountant on a regular basis. By utilising our Receipt Bank cloud accountancy service in Liverpool, this pressure can be alleviated. It allows you to keep detailed copies of all receipts on the go by simply snapping a picture and uploading it via Receipt Bank - sending it straight to your accountant for us to do the hard work.
Safe online storage
Receipts submitted by Receipt Bank are fully HMRC compliant and securely stored in our online database, meaning that once you’ve taken your picture, you can throw your receipt in the bin, safe in the knowledge that your Receipt Bank specialist accountants in Liverpool have all the information we need to take the best possible care of your finances.
No more lost paperwork
Every year, clients lose hundreds of invoices and receipts, meaning that your expenses can be difficult to track accurately. By uploading these documents as soon as you receive them, you can help us build up a more complete image of your business and we can use this to keep you updated on your tax liabilities throughout the year. It means that, as your Receipt Bank cloud accountancy service in Liverpool, we will be able to ensure you can fully utilise your tax allowances and that nothing will get lost or overlooked again.
If you have a smartphone, you can download the 1Tap app, so that you don’t even need to extrapolate the data for yourself. Simply take a picture using the app and your Receipt Bank accountants in Liverpool will do all of the hard work for you. There’s also an email address available for you to forward any digital invoices to, so you can relax and focus on your business and leave us to deal with the paperwork.
New legislation and taxes
We know that it can be difficult keeping up with the ever-changing world of legislation and taxes. Using a Receipt Bank cloud accountancy service in Liverpool allows us to help you take control of your finances and ensure that an accurate picture of your obligations and allowances is being maintained at all times. A good example of this is the upcoming Making Tax Digital legislation, which means that from 2019, all businesses which are not VAT-registered will be required by law to submit their information quarterly to a digital tax account. At MJF Accountancy, you can use Receipt Bank and 1Tap to ensure that you are fully compliant with this new legislation and we can keep on top of any other changes that may arise.