In Focus : Receipt Bank

Automated data entry

Receipt Bank simplifies the time-consuming, monotonous task of data entry so you can spend more time on actively making your business a success.

Receipt Bank has many ways in which you can upload your bills, take a picture using your smart phone or tablet app, scan and upload, email or use drop box to save your documents, receipt bank will then scan the drop box and upload all new documents. In addition, you can opt to post your receipts to Receipt Bank and they will upload them all for you.

There are several ways to get the receipts into Receipt Bank, such as the phone app, which utilises your phone’s camera; drag and drop documents into the web-based app; email docs to ...

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The Future is Digital 

With the 2017/18 self-assessment tax return deadline well out of the way, attention is now turning towards Making Tax Digital, the key element of the Government’s tax administration plans.

What exactly is Making Tax Digital (MTD)?

Making Tax Digital (MTD) is an HMRC initiative designed to make sure the UK tax system is both effective and efficient whilst being easier for taxpayers.

Effective because taxation records will be more accurate, with fewer opportunities for errors, miscalculations and even fraudulent activity.

Efficient because the automation of the taxation process will make it faster, helping businesses, accountants and HMRC save valuable time.

Easier because using the correc...

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2017/18 Tax Return Statistics 

More than 11.5 million people were required to file their 2017/18 Self Assessment tax returns by the 11.59pm deadline on January 31st. Of those, 93.68% were submitted on time, which set a new record according to HMRC.

The number of taxpayers who filed online reached more than 10 million for the first time, with over 700,000 returns being submitted on the deadline day itself, and the peak hour being between 4pm and 5pm with a whopping 60,000 returns submitted.

HMRC have released this year’s statistics :

  • 11,564,363 total Self Assessment tax returns due.
  • 10,833,177 returns received (93.68%).
  • 735,258 taxpayers filed their returns on 31 January.
  • 10,129,234 returns were filed online (93.5% of total filed).

However, desp...

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