New mobile apps designed to help small businesses keep tab on their record keeping accounts, have been launched by various software companies and are now available on smartphones such as Android, iPhones and Windows phones.
The free apps are aimed at small businesses, sub-contractors and the self-employed who have an annual turnover below the VAT registration threshold of £77,000 – allowing users access to simple record keeping accounts, to track income, expense and profit, and provide estimations on what their basic tax liability may be.
Whilst the apps meet HMRC specification requirements, HMRC has emphasised that their use has been designed to complement existing tools and programmes. It also encourages users to ask suppliers about any security concerns prior to use.
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