This content is designed to provide updates and best practice guides for accountants and farm business consultants who use and work with Farmplan software and our customers.
As you are undoubtedly aware the government is introducing new procedures as part of its Making Tax Digital initiative which will affect businesses from April 2018 onwards.
Businesses in scope will be required to keep their records digitally and update HMRC quarterly with summary data from their software.
Whilst there is currently uncertainty over whether all the measures will be introduced on the date originally planned (following the removal of the relevant clauses from the finance bill until after the General Election) it seems unlikely that these proposals will be dropped altogether.
At Farmplan we are working closely with HMRC to develop our software to meet these reporting requirements. We are also consulting with all the major accounting bodies, together with the ICB, IAgSA and the NFU to develop software, which not only meets the legislative requirements of MTD but also fully meets the needs of all users.
As part of this development process, we would like to call you to discuss how Farmplan’s Business Manager will work for you and your clients. We should be grateful if you could spare some time in the next few weeks to discuss this with us, as it is only by fully understanding your requirements that we will be able to provide an MTD solution, which truly meets your needs. It would be useful if you could let us know most appropriate person to contact by emailing email@example.com.
Once we have developed our MTD solution there will be a period of rigorous testing before it is rolled out. As part of this process we will be looking for volunteers to take part in our Beta program. If you or any of your clients using Business Manager would like to be involved in this testing, please let us know as this will be a great opportunity to help shape the future of our financial packages.
If you have any queries please feel free to contact me or one of my colleagues on our MTD development team by calling 01594 545011, or email firstname.lastname@example.org