first 10,000 customers
95% of all current accounting processes for micro-businesses will be automated in five years. AI is capable of automating the repetitive and providing key analytical insights.
HMRC's Making Tax Digital for Income Tax has been delayed (again) until 2026. TAXOD remains one of the only few tax softwares capable of filing self-assessment. The rest will need to wait 3 yrs.
Open banking is still in its early stages of development particularly in the area of budget and forecasting. In 2020 Accenture reported only a 18% take up by consumers
Growing trends towards freelance and micro business can not be supported by traditional in person accounting solutions
The rise of services such as; Uber and People Per Hour open up opportunities for people to work when and where they want. COVID has served as a catalyst for new working standard.