Our Director of Retail, Anna Bravington, has been interviewed by Retail Systems to get her thoughts on Making Tax Digital for retailers.
Article Excerpts
According to Anna Bravington, director of retail at e-commerce connection platform TIDEConnects, this is a real issue for many small businesses, as copying and pasting from spreadsheets or any other manual system will not be accepted, “and HMRC are typically not shy of fining people when taxes don’t get paid”.
“There are a great deal of benefits to digitisation, such as less time spent on admin tasks, more accurate financial data and more transparency on cash flow,” she stated, noting that accounting giant Sage estimates that small business could save around £17,000 per year.