Xero has launched a personal tax solution for UK accountants and bookkeepers built to save them time.
Following a comprehensive testing phase with accountants and bookkeepers, personal tax and sole trader accounts production is now available within Xero Tax. This is Xero’s cloud compliance solution which also includes company accounts and tax.
Claire Markham from The Focus Collection who took part in the testing phase commented: “So far, Xero’s personal tax is the easiest tax software I have used in my 15-year career. It has already saved us time, and has made it easier when training new members of staff. We have been using Xero for the past six years and have moved everything over to Xero, as we find it so easy to use and our clients think the same.”
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This software development forms part of Xero’s commitment to being ready to support MTD for Income Tax Self Assessment (MTD for ITSA). Through launching this solution today, the company’s aim is to ensure accountants and bookkeepers can seamlessly make the transition to MTD for ITSA in the future.
Xero UK director of operations Damon Anderson said: “Technology forced about a decade’s worth of change during the pandemic, and the government’s digital tax agenda is gaining momentum. Xero Tax has already transformed the work accountants and bookkeepers do for small businesses in the UK, and this new tool is a game changer for the industry as it prepares for the next stages of tax digitisation.”
“Our new personal tax and sole trader accounts solutions remove manual tasks, create more accurate data and facilitate seamless digital filing experiences. This gives firms the ability to put the right attention on compliance, so they can provide full advisory services, which is so crucial at this time.”