While the non-VAT parts are not mandated before 2020 at the earliest, it is clear that MTD will be mandated for VAT for those businesses with income above the VAT threshold from April 2019. The VAT Notice is expected before the next issue of In Practice. In the summer all agents will be able to:
Sign up an existingVAT client to submit VAT returns through MTD
Be authorised by a new VATclient (a digital64-8/OAA for MTD)
Client can digitally confirmauthorisation to MTD-VAT
Client can digitally de-authorise for MTD-VAT.
To assist you and your clients, ACCA has partnered with Bloomsbury Professional and will provide practitioners with free practical guidance on MTD VAT implementation. This will be available during the summer and we will highlight in future publications, on the website and in social media when this free member resource is available and how you can receive your member copy.
Coming soon – updated model accounts
ACCA is updating its successful and regularly requested free proforma model accounts.
The suite will shortly cover FRS102, FRS102 1a, FRS 105, Small Self-administered Pension Schemes, CIOs, Charity company accounts using FRS102, and LLPs using FRS102. They will be available to members on request, with details on how to obtain them highlighted in ACCA publications and on the website.
Accounting Excellence Talks - Delivering better client service in the digital age
Thursday 19 July, 11am
Providing exceptional client experience has always been a top priority for accountants. However, the digital age has brought new processes, techniques and tools, as well as increased rewards for those firms who get it right. How can you evolve your practice to make sure you retain your existing clients and attract new ones? This accountant-led webcast will give viewers unique insights into the behind-the-scenes work of cutting-edge firms that have successfully rolled out software and built new processes. The panel will also be giving practical tips on how technology can help you put excellent client service at the heart of everything you do.
Join us for this live, interactive online broadcast on 19 July at 11am.
The deadline for entries to the British Accountancy Awards 2018 has been extended to 28 June. Taking place on 26 September at Grosvenor House in London, the awards will welcome over 1,000 guests from across the UK and celebrate the very best of the practice sector. Here are five top reasons to enter:
1. Benchmark your firm across the industry 2. Increase your firms credibility and differentiate from your competitors 3. Boost staff morale and improve motivation 4. Attract new talent to help drive your business forward 5. Celebrate your team's hard work across the year with an unforgettable night at one of London's finest hotels.
Now that the Regulation has come into law, you can still take the necessary steps to ensure your practice complies. Last month we advised members that Bob Edwards FCCA, in conjunction with GDPR Auditing Ltd, had created a bespoke solution to GDPR compliance created specifically for UK tax and accounting professionals, and was offering a discounted option for ACCA members for a limited period.
Bob has agreed to extend the discount offer for a further month – find out more details of his solution. If you decide to buy the Workbook be sure to add the discount code [ACCA5P] to the order form.
If you would like to discuss your concerns about the GDPR, Bob has offered to speak with practitioners to share his experience of creating and utilising his solution for his own practice. You can call him on his mobile 07879 896073, or email email@example.com.
Are you willing to be a continuity partner?
ACCA has a search tool to enable members in the UK and Ireland to find firms prepared to provide continuity of practice arrangements.
The search tool is located in the Directory of Business Advisers section of ACCA’s website. At present we are focusing on building up a number of firms who are interested in participating.
To participate in the scheme and offer your firm as a potential continuity partner, your firm must contain at least one ACCA practising certificate holder. If you are willing to participate in the scheme please download this form, complete and return it to:
ACCA is unable to recommend specific firms and will not get involved in drawing up continuity of practice agreements, but guidance is available in this technical factsheet about continuity of practice arrangements, which also contains copies of ACCA's model agreements.
Members are strongly recommended to seek independent legal advice when drawing up a continuity agreement. The agreement will be legally enforceable upon the parties. It is, therefore, important that all parties are clear in their understanding of their responsibilities under the agreement, and that the document records accurately all matters agreed by the parties.