The Healthcare team at a Newcastle-based accountancy firm has managed to revolutionise its client base by placing all its dental associates on digital software.
As part of a major technological shift in the way accounts need to be filed to HMRC, better known as Making Tax Digital, Robson Laidler Accountants in Jesmond has achieved 100% success two years ahead of schedule, by migrating all its dental associates onto cloud-based software within 12-months and are currently transferring its entire healthcare client base on digital platforms.
Making Tax Digital means that from now, HMRC requires businesses over the VAT threshold to keep digital records and from 2020, all businesses, regardless of turnover, must keep records digitally and update HMRC quarterly.
Robson Laidler healthcare director Michael Smith said: “We have worked tirelessly to customise the software to better fit the needs of our healthcare clients. As specialist healthcare accountants, we manage our clients’ businesses in ‘Xero’, a cloudbased accountancy platform that keeps everything up-to-date in real time.
“Our decision to get our clients on Xero quickly isn’t just about keeping HMRC happy. Live data means closer working relationships with our clients, advice in real time, and better strategic decision making , which allows their businesses to grow stronger.
“The power of accounting technology is allowing clients to drive real efficiencies into their business. Our package of Xero and connected apps really simplifies the bookkeeping process through the use of technology and automation. Our clients simply take pictures of their invoices and the software processes them automatically. This simplification creates more time for our clients to focus on what’s really important to them.
Client, Paul Thapar, principle of Neo Orthodontics based in Newcastle and Ashington said: “Robson Laidler never fails to ensure we are ahead of the curve when it comes to technological advancements. “The migration to a cloud-based software package was a seamless transition and could not have been easier. We were given a one-to-once demo of the software and were guided through the whole process.
“Like all dentists, we were used to completing gruelling annual returns, making complicated adjustments and even discovering a few unpleasant surprises at the end of the financial year. But now we receive meaningful data, which is more relevant, up to date and delivered in a timely fashion, allowing us to forecast and plan ahead much more efficiently.
“Our information is ready to submit to the HMRC at the click of a button. It is saving our book-keeping staff vast amount of time and effort. The entire process really is straight forward.”
Robson Laidler Accountants has been working with healthcare clients since the firm was founded in 1920. Its healthcare team act for many GP and dental practices as well as locums, associates and consultants. The team’s expertise within accounting, taxation, financial planning and payroll allows Robson Laidler to deliver a holistic service including specialist accountancy and tax advice as well as NHS pension guidance.
Robson Laidler are members of the UK 200 Group, a membership organisation representing some of the best independent firms of accountants throughout the UK and worldwide as well as the Association of Independent Specialist Medical Accountants (AISMA), a national network of over 75 accountancy firms providing expert advice to medical practices, sessional GPs and hospital doctors.
www.robson-laidler.co.uk
