FreeAgent publish lots of useful content and as one of their premium partners that embrace technology we were asked to provide a comment in their recent whitepaper, Making Tax Digital which looks into the changing face of accountancy.
Our Operations Director, Steve Cornwall said;
“Over the next few years, I believe there will be an even greater dependency on technology for success. Contractors face having to comply with legislation like IR35, GDPR and MTD which could alter the way that some of them have to structure their businesses – but will also require them to embrace technology in order to keep their financial records and tax information in check.
“I envisage that we’re going to see a shift towards practices expanding their services for small and micro-business clients, rather than simply for contractors. Some small business clients have similar accounting requirements to contractors and will need an intuitive, easy-to-use digital solution, which is something that accountants familiar with software like FreeAgent will be able to implement easily.
“We’re already seeing traditionally contractor-focused firms starting to introduce small business-focused offerings. It’s becoming increasingly clear that the industry is looking at this sector as a big area for future growth.”
