Sage, the old favourite, something that is synonymous with the accountancy profession, is changing to get ready for Making Tax Digital (MTD). Whilst that shouldn’t be surprising, given they are one of the UK’s largest technology companies, you need to be a little bit careful and check whether you’ll be compliant when the new regime kicks in.
Sage has been the market leader for a very good reason – it can do pretty much everything a number cruncher could dream of. On a practical level it is extremely valuable, some of our clients who rely on outputs such as detailed project costings wouldn’t be without it. That said, when we ask businesses “What version of Sage are you on?” it is mostly met with a “Dunno!”
Roxane Neave, Operations Director at Whyfield, explains: “Any non-millennial in the accountancy profession has worked with Sage desktop which is why it became the biggest software provider in the market. In readiness for MTD next year, Sage is writing to all of its subscribers and their accountants to inform them of the options they are making available.”
She continues: “Our message is to review your current software now as VAT will need to be calculated and submitted via a MTD-compliant software from April 2019. At least that way, you’ll know if you are compliant with the new regime and avoid having to pay more to become compliant through buying extra add on’s to your existing product.”
Not sure what version you are on? Don’t worry, just give us a call and we’ll be happy to discuss your options.
That said, given that so much has changed over the past few years, with the likes of Xero and Quickbooks in particular challenging Sage’s market dominance, perhaps now is a good time to take a look at the right cloud accounting system. There are currently over 150 software suppliers who have said they’ll provide software for MTD in time for April 2019, so you’ve got plenty of choice!
We’re getting more and more enquiries from companies looking to explore their options so we’re helping them in a number of ways including running bespoke demonstrations to enable an informed choice.