Accountants and bookkeepers! 📣
We are delighted to announce that our MTD ITSA software is now recognised by HMRC for handling digital record-keeping and quarterly submissions requirements, and that we have also started accepting eligible clients onto our Pilot Programme.
To gain recognition, MTD ITSA software developers must demonstrate that their product can handle the end-to-end process of digital tax submissions—from retrieving a client’s business information from HMRC, to fulfilling the necessary obligations. And we’re very happy to share that we’ve passed the test!
A major milestone for Coconut & our Accountant Partners
HMRC-recognition is a huge achievement for software providers. There is a high bar to reach this status, and this marks a major milestone in our mission to help the UK’s accountants and bookkeeping professionals digitise their smallest clients with ease
From April 2024 onwards, more than four million sole traders and landlords will be required to do quarterly tax summaries using a digital product. But until now, existing software has failed to meet the specific needs of this group. At Coconut, we’re filling that software gap, by addressing the unique accounting challenges of sole traders and landlords, and the accounting professionals that support them.
For example, Coconut makes it easy for accountants and clients to separate, track, and report on individual income streams, no matter what their setup is or how many bank accounts they use. We are also reducing the time that accountants spend on cumbersome bookkeeping tasks such as receipt processing, enabling them to open up capacity for new business as demand increases.
This is also great news for our many Accountant & Bookkeeper Partners who are already using Coconut for their sole trader and landlord clients, and who plan to use Coconut as their MTD ITSA software of choice.
Chris Mollan, Founder and Managing Director of Clever Accounts Ltd & a Coconut Platinum Partner said “We’ve been using Coconut for over a year now. Our clients love it, we love it. The fact that HMRC recognises the software as MTD-ready means that it’s full steam ahead for getting the rest of our clients using the software.”
Book a short run-through with our team
If you're an accountant or bookkeeper and would like to find out more about how Coconut’s software will help you work more efficiently with your sole traders and landlords, book a short call with our team here. On the call, we'll run you through the software, and will be able to answer any questions you may have about implementing it in your practice.