The Freelancer and Contractor Services Association (FCSA), one of Britain’s largest and most respected trade associations for Umbrella Companies and contractor accountancy services, has agreed a new partnership with cloud accounting software company My Digital Accounts.
The company, which was founded in 2015 by accountant John Whelan (now its CEO), specialises in offering software systems to Umbrella Companies and contractor accountants to assist them in managing the accounting needs of flexible contracting workers.
The cloud-based software utilised by the firm has been developed to provide responsive and easy access at any time of the day or night from any point across the world, resulting in it being a powerful resource for British accountants and the contracting professionals they work with.
Describing the FCSA as a vital organisation delivering a valuable support network for professional services in Britain, Mr Whelan expressed his delight at the trade body’s recognition of the benefits and expertise that My Digital Accounts will transfer to Umbrella Companies, accountants and the country’s flexible contract workforce.
He added, “The temporary labour market is facing many tax and compliance challenges and leading-edge technology like ours will help accountants to meet any challenges with ease with, for example, an integrated on-boarding CRM and practice management tool included as standard. We are a part of HMRC’s Making Tax Digital developer programme which means we have access to HMRC’s Development Roadmap.”
Whelan acknowledged the “invaluable service” delivered by accountants to the country’s professional contracting community. My Digital Accounts, he said, will focus on helping them develop strong client relationships to improve the working lives of all involved. He warmly welcomed the opportunity to team up with the FCSA as an official business partner and help their members flourish.
The FCSA’s CEO, Julia Kermode, was equally positive about the new partnership, stating that Mr Whelan had built a company that was dedicated to providing accountants with the tools and solutions they needed to manage the accounts of contracting professionals. By working with My Digital Accounts, she added “our members and the contractors they work with can be assured of a first-class accounting solution and service.”
Earlier this month, following a meeting with Revenue officials, Ms Kermode confirmed that HMRC was not, as some observers had feared, planning to extend off-payroll IR35 reforms to the private sector from April 2018. On her Twitter page, Ms Kermode said, “This will allow time for proper meaningful consultation & off-payroll rules are just one option to consider.”