GoSimpleTax launches invoicing product in business expansion
The product, which allows users to create, issue and manage invoices, as well as expenses, will be available free of charge to all customers until 31st March 2021.
GoSimpleTax Invoicing, is fully integrated with PayPal and Sum Up, as well as being compatible with external email systems, to enable users to issue invoices directly from personal accounts. The tool automatically completes GoSimpleTax’s self-assessment software, to ensure that all tax and expenses information is updated in real-time for 20/21 and future tax returns.
Mike Parkes, technical director at GoSimpleTax, said: “The treasury’s announcement that Making Tax Digital will be extended to all taxpayers, who file income tax self-assessment tax returns for business or property income of more than £10,000 a year from April 2023, has placed a firm emphasis on boosting efficiency and compliance for self-employed workers, while encouraging people to keep a clear and up to date picture of their finances.
“While the tool is aimed at micro businesses that fall under the VAT threshold, GoSimpleTax Invoicing has been designed to provide users with a simple-to-use app that captures essential invoicing and expenses data which populates their tax return in real-time.
“Whether you’re a sole trader, or a UK landlord, the key is to make the self-assessment process as simple for yourself as possible – from knowing when the deadlines are, filing the correct information in a timely manner, to knowing the right amount you need to set aside for your tax bill. We’re confident the addition of the invoicing software to our product suite will make managing finances and filing tax returns as seamless as possible.”
Mike added: “Given the current financial pressures facing the self-employed community, we took the decision to create a post-Covid ‘giveaway’ to enable people to get their finances in order ready to calculate their Self-Assessment tax return in April 2021 and see their tax owed.”