Elliott Poulter

Roughly 1 million more individuals will be expected to keep digital records and file quarterly updates after the Budget detail announced MTD will be expanded to sole-traders and landlords with taxable turnover £20k+ during this Parliament. Those turning over £50k will need to get sorted in less than 18 months! Xero swiftly announced our plans to enhance our Cashbook edition to support our partners with clients in this segment. For just £7 per month you will get: MTD for IT filing   Bank feeds Hubdoc to pull key documents such as receipts into Xero automatically Send up to 10 invoices and quotes per month  Improved client access options + features our accountants and bookkeepers love including Cash Coding, bank rules, custom reports, Find and Recode There will be thousands of unrepresented clients who will need your help!

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The situation with Birmingham City Council’s Oracle ERP system bears similarities to the infamous Horizon software scandal with the UK Post Office. In both cases, flawed IT systems led to significant financial discrepancies and hardship. The Horizon system wrongly accused Post Office workers of theft, leading to wrongful prosecutions and ruined lives. Similarly, the Oracle ERP’s failure has caused severe financial mismanagement at the council, requiring manual corrections and leading to a loss of trust in the system. Both scenarios highlight the catastrophic impact of deploying inadequate IT solutions without robust testing and validation. Furthermore for a system to be able to assign transactions to the wrong year highlights another important factor, this system does not reconcile, if it did then this problem would have been raised the very first month when reconciling the period end would not reconcile :-( I find this worrying. The steps to bookkeeping and accounting must be achieved to provide 100% CoA. Shuddering actually.

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Important information about how Xero will be supporting accountants, bookkeepers and their clients with MTD for Income Tax now that we have had confirmation today that it will proceed:

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Struggling to maintain margins during the UK Self-Assessment season? With rising demands and limited resources, it’s tougher than ever for accounting firms to stay on top. 💡 AI-driven Self-Assessment solutions, powered by APARI , offer the extra helping hand you need this tax season. Automate tasks, boost efficiency, and focus on what matters most—your clients. Want to be ahead of the game? 🎯 Secure your spot in our BETA program by clicking the link below to set up a meeting. https://lnkd.in/d-_DizXH

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The Mayday dev team have been on absolute 🔥 lately, tonnes of new features! 👉 Interco loan fixing - we already automatically reconcile your intercompany accounts, why not help you fix your issues too? 👉 AR & AP auto-reconciliations - for groups that do lots of invoicing and billing between one another 👉 Flexible recharge periods - for when you don't want to recharge monthly, now you can do it whenever you want 👉 Excel exports - cause why not, people love putting stuff back into spreadsheets (even though we're here to avoid them 😅) Big shoutout to the team! And I guess someone is taking notice #FeaturedApp Also, cheeky shout out - 244 five star ⭐️ reviews is not half bad. Syft Analytics and Ignition setting the bar though!

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❗ ❗ ❗ HOT NEW OFF THE PRESS.............Have you heard???? ❗ ❗ ❗ We have announced the roll-out of an intuitive new interface to enhance user experience, help boost productivity, and ultimately maximise the control of spend and supply-chain risks. This marks another roll out to support our companies initiatives to drive innovation forward, and there's much more to come, which I am super excited about (and in honesty am finding it really hard not to shout from the roof tops about but I am sworn to secrecy). Exciting times ahead for Proactis and our customers. Read more here: https://lnkd.in/ezBuGqyj #sourcetopay #spendcontrol

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How are you preparing for MTD ITSA? 🤔 After numerous delays, the Autumn budget confirmed the government's commitment to MTD ITSA and even expanded it, adding requirements for individuals with incomes exceeding £20,000 - April 2026: Compliance required for individuals with income exceeding £50,000 - April 2027: Compliance required for individuals with income exceeding £30,000 - [SPECULATIVE] April 2028: Possible compliance for individuals with income exceeding £20,000 Since the announcement, I’ve had conversations with several bookkeepers and accountants, and their approaches seem to vary: 1️⃣ “Nothing to worry about—it’ll get delayed again” 2️⃣ “We’ve started restructuring our client base to align with the new requirements” 3️⃣ “We plan to shift the new responsibilities to clients to minimise internal workload” 4️⃣ “We’re actively exploring tech solutions to streamline the additional workload” 5️⃣ “No changes for now” 6️⃣ Something else? 💬 Where do you stand? Are you preparing now or taking a wait-and-see approach? Keen to hear your thoughts! 👇

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Whilst rushing around at the weekend as ever as my son's personal chauffeur I managed to scan a interesting article that I thought I'd share. The evidence gathered clearly highlights the need for a strong connected approach between CFO's and CIO's to ensure they prioritise the correct projects that align with the company’s overall vision and financial objectives. Of particular significance for me was the reference to ERP upgrades being judged as the least successful in delivering value! With Workday all our customers are on the same version and never have to face a major version change or upgrade project. They simply have the choice to take advantage of the continuous innovation delivered twice per annum. That is what sets Workday apart as a true ERP platform that delivers enduring value #TeamWDAY #CFO #CIO #FinanceTransformation https://lnkd.in/eNTCFJmN

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Developer onboarding. According to IT Jobs Watch, the average UK day rate for a Software Developer is £525. Standard requirements include setting up virtual developer environments, enabling access to the developer portal, authorising use of business applications, automating deployment of containerised apps and databases. With all the authorisations, checks and siloed teams it is not uncommon for this to take anywhere from 2 to 12 weeks. If we take an average of 6 weeks to get a developer setup on the tools they need, this equates to a potential cost per developer of £15,750! With many organisations realising their differentiation is in the IP they develop, many are searching for developers faster than they can hire them. For a large enterprise potentially hiring just 1000 new developers, this could potentially lead to loss of developer productivity of £15.75m. With Nutanix's Internal Developer Platform (IDP) you can automate within minutes access to a virtual developer environment, enable a developer portal with Nutanix or third party services, automate deployment of your containerised applications and provision a wide-range of database engines, wherever you need to run them. Save cost, enable speed and empower your new developers to build your next great apps. Read more here -

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London bound!! Second client visit of the week❤️ Today I am meeting an organisation who wants to start to see improved ROI from their Microsoft365 investment. To date we have delivered a Maturity Assessment that gives them a data driven report on the adoption status of their current M365 applications as well as a costed road map on how to improve adoption so they can start seeing improved ROI Interested to understand how we can support your organisation? Drop me a message so we can discuss further ps - I bet if I tried to get this shot of the train passing by again I would fail 🤪 #microsoft #microsoftteams #adoption #roi #clients #microsoft365

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The Autumn Budget 2024 introduces new challenges—and opportunities—for IT-focused companies. How will the changes in tax, workforce costs, and public spending affect your business? Our latest report offers insights tailored to help IT-driven businesses navigate the budget’s impact. Download your copy to stay ahead of the curve: https://bit.ly/4fGCClm #Budget2024 #ITBusiness #UKEconomy #MarketInsights #VelocityConsulting

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Who wouldn't want to take their business to the next level? 🚀 Love this honest feedback from IRIS Software Group customer, Charlotte Cross around outsourcing. 😀 Outsourcing can be a huge benefit to your accountancy practice, helping you to manage your practice workflows, be more efficient and free up valuable time. See what IRIS Outsourcing can do for your business: https://bit.ly/3xy004a #TestimonialTuesday #Outsourcing #Accountancy

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Got cash reserves in your business? Learn how to extract them #tax efficiently! Join Chris James from Workwell and Vicks Rodwell from IPSE in our webinar as they explore smart strategies for managing your company reserves👇 https://bit.ly/3XumZHD

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❤️ Bringing AP Automation to the nation!! ❤️ Read how through the adoption of our AP Automation solution, Warwickshire County Council were able to streamline the accounts payable function, enabling straight through processing of invoices and visibility of status. Read the full case study here 👇 👇 #apautomation #efficiency #ai

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Apron x Accounting Futures Roadshow 6 cities in October We’re on the road this October as part of the Accounting Futures Roadshow. Find us six cities across the UK. Discover: 💸 End-to-end accounts payable – Local and global supplier and payroll payments from a single platform. Simpler workflows, greater security, happier clients. 📷  The future of invoice capture – See why hundreds of accountants already trust Apron Capture to help their clients upload and extract documents on the go via WhatsApp. 😍 Free Apron Capture account – Signed an expensive agreement with your current OCR provider? No sweat. We’ll give you a free Capture account until your agreement with them runs out. Bonus: We don’t do contracts. Cancel with us anytime. See you there 👋 #AccountingFutures

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📢 E-invoicing in the UK: What’s the Timeline for Adoption? As HMRC prepares to launch its consultation on e-invoicing, I'm already being asked by clients and prospects about the expected timelines for this activity. The upcoming consultation, likely in Spring 2025, will gather input from businesses on the best path forward for e-invoicing adoption in both the public and private sectors. While no official timeline has been set, here's my take based on similar initiatives in other countries. 🚨 Key Milestones to Expect: Consultation & Feedback (2025-2026): Following the consultation, HMRC will develop legal and technical specifications, a process likely to take at least a year. Testing & Pilot Programs (2026-2028): Expect HMRC to run pilot programs to ensure a smooth rollout. Large businesses may be the first to adopt, with smaller businesses following a year later. Full Implementation (2029+): If all goes to plan, the earliest full-scale adoption of mandatory e-invoicing in the UK would be around 2029. This phased timeline echoes the successful strategies seen in Belgium, Italy, and other EU countries, where digital reporting has closed tax gaps and streamlined business operations. 🔮 What Does This Mean for Your Business? E-invoicing isn’t just about compliance, and waiting for a mandate to force your hand isn't sensible. It reduces errors, cuts down on administrative tasks, and drives good buyer/supplier relations. By starting to explore e-invoicing solutions now, you can stay ahead of the curve and be well-prepared for the upcoming changes. #eInvoicing #DigitalTransformation #UKTaxReforms #FutureOfFinance #HMRC #Automation

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We all know that a new tool will not solve any issue. What forces change is human action. Hayley Robins explores this with regards to to your financial control.

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