UK SMBs losing money filing taxes

Almost half of all SMBs in the UK (49 percent) have lost money in the digital tax submission process, signaling that there is still a lot more work to be done before the Make Tax Digital initiative is completed successfully. This is according to a new report by cloud accountancy software Pandle, which surveyed 1,000 UK SMBs. The report says that SMBs lost money despite feeling well-informed on the recent changes to the system. The report also states that almost two thirds (62 percent) of people felt prepared to the change. A fifth (20 percent) were unaware of the changes,… [Continue Reading]