January self-assessment for accountants: process, systems and cloud benefits
The start of the year is a busy time for UK accountancy practices. The deadline for self-assessment means that January can be a pretty hectic month, and when you’re busy it really focuses attention on how efficient (or otherwise) your processes and systems are.
With this in mind, we got together with AccountingWEB to ask a sample of 1,100 accountants how the 2014 self-assessment period was for them this year.
For many, it was a case of ‘same as it ever was’, but 15% of the accountants we spoke to felt that recent system changes had improved this year’s self-assessment. That’s an encouraging sign and shows there’s a growing appetite for improved technology that can speed up and improve the way practices work.
Of the accountants surveyed, 10% are considering moving to the cloud. While 10% feels quite low, combined with the number already on the cloud it shows that almost a third of UK accountants are cloud-based or about to move there. When you consider that there’s approximately 20,000 accountancy firms in the UK, that’s still an awful lot of practices who’ve embraced the technology. This has been a gradual shift and one that’s taken time. But we’re at a point now where cloud-based systems are the norm, rather than the exception, for practices. We’re at a tipping point in the evolution of cloud accounting, something that Gary Turner, Xero UK Managing Director, outlined in his recent blog about the state of cloud computing in the UK.
So, as cloud adoption continues, it’ll be interesting to see how the busy January season evolves for UK accountants in 2015 and beyond. Improved processes, more efficient use of staff resources and quicker access to client data in the cloud will have an impact on how accountants start the year.
Read more about Accountants