A partner at Scottish accountancy firm Thomson Cooper recently attended Sage’s Making Tax Digital event at the House of Commons.

Reflecting on the event, Elaine Cromwell said the key message was that it was “time for business to take action”.

The keynote speaker at the event, Financial Secretary to the Treasury Mel Stride, confirmed that Making Tax Digital (MTD) for VAT is ‘definitely mandated’ for April 2019 and that he was determined to keep the revised MTD timetable on track going forward.

The event brought together a select audience of accounting experts and business leaders to discuss driving the government’s digital agenda forward, closing the tax gap through MTD and the challenges surrounding digitisation.

Sage CEO Stephen Kelly said the accounting software giants don’t want to see Britain being left behind other nations, with Kelly believing that MTD will act as a catalyst to stimulate productivity with less time being wasted on administration.

FSB policy chairman Martni McTague told the meeting that digitisation wasn’t yet a priority for small businesses and expressed frustration at the poor customer experience delivered by HMRC.

Ms Cromwell said: “Accounting software these days is affordable and easy to use. We’ve seen a huge rise in clients ditching the spreadsheet and moving to accounting solutions. There are numerous benefits for their businesses including cost savings, streamlining and process integration. However, there is still a degree of perceived risk.

“Businesses need to feel reassured that they are selecting the best solution for their business and have access to expertise, training and support throughout the process. My advice? If your business is VAT registered don’t leave it to the last minute. Get ready now with MTD compliant software and benefit from tools which will help you work faster and smarter.”