27 Nov Sole Trader bookkeeping is easy with 1Tap
Sole Traders – we know that your time is precious and having to manually process all your expenses for your annual Self-Assessment feels like a waste of time. So to make life a bit easier we’re now offering 1Tap, a new expense management app designed specifically to help you:
- Save time, not receipts!
Tired of having a bunch of paper receipts and invoices hanging around your house or car all year? With 1Tap you can just snap a picture of your invoice, and then throw the paper away. The image of your item is fully HMRC compliant and stored safely online. It also means no more trips to see us at our offices in Cardiff and Bloxham to drop off a bag full of receipts for your Self-Assessment!
- Eliminate date entry
No more late nights hunched over an Excel spreadsheet entering your expense data – all you need to do is take a picture of your receipt or invoice with your phone and the app will do the rest. The data is extracted automatically and sent straight to us. You can also forward digital invoices to an email address.
- Claim your full deduction
When you’re incurring expenses on the move, it can be a pain to keep track of bits of paper which means every year, receipts get lost or damaged and you miss out on claiming your full allowance. 1Tap lets you snap a picture of a receipt or invoice the moment you get it, so it’s all stored safely. That means we’ll be able to help get the most from your tax return and help you claim your full allowance.
- Keep track of your tax obligations
Another advantage of keeping records as you go is that we’ll have a steady stream of information on your business. We can use this to update you on your tax obligations throughout the year so you can set money aside and there’ll be no nasty surprises come January.
- Get ready for Making Tax Digital
HMRC’s new Making Tax Digital legislation means that from 2019 all non-VAT registered Sole Traders will need to submit financial information four times a year to a digital tax account (us!). 1Tap provides all you’ll need to make sure you’re ready for the switch.
We know that you went into business to follow your passion, not to keep books. Using 1Tap will give you the time you need to focus on your work, secure in the knowledge that your expenses are taken care of and you’re getting the best deal possible.