# Development of powerful new MTD solution from MyFirmsApp is on track for Q2 2017 launch
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-04-03
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: MyFirmsApp MTD Solution for Accountants
Meta Description: Discover how MyFirmsApp's innovative MTD solution is simplifying digital record keeping for accountants and their 'Straightforward clients'.
URL: https://financedigest.com/development-of-powerful-new-mtd-solution-from-myfirmsapp-is-on-track-for-q2-2017-launchhtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/img00117-1825-1736844010399-compressed.jpg)

_Accountants will have time to ensure clients are digital ready before first filing deadline_

The development of an App-driven MTD solution by MyFirmsApp, the world leader in App and mobile technology for accountants, is on track for completion in Q2 2017.

The new MTD solution, which is being built with the help of the MyFirmsApp community and with advice from leading organisations including ICPA, will sit on the client’s Phone or Tablet and will not require any prior accounting knowledge. It is aimed specifically at clients with simple affairs, that are typically non-VAT registered and don’t employ staff and for whom, [digital record keeping](https://www.financedigest.com/the-quest-to-shine-digitally-to-keep-the-micronized-salt-market-on-the-toes.html "The Quest To Shine Digitally To Keep The Micronized Salt Market On The Toes") is a likely to be a completely new experience.

MTD presents an exciting opportunity for the profession with the very real potential to enhance the role of the accountant into the necessary real-time [tax advisor](https://www.financedigest.com/tom-griffiths-tax-advisor-on-the-4-most-common-us-expat-tax-questions-answered.html "Tom Griffiths on The 4 Most Common US Expat Tax Questions Answered"). By providing clients with a single simple App, the accountant can retain that trusted advisor status that is capable of being eroded by MTD.

Joel Oliver, CEO, MyFirmsApp comments: “Despite the announcement earlier this month by HMRC that there will be a one-year delay in the introduction of [MTD for businesses with turnover below the VAT](https://www.financedigest.com/becoming-data-ready-for-mtd-for-corporation-tax-aligning-vat-and-ct.html "Becoming data-ready for MTD for Corporation Tax: aligning VAT and CT") threshold, our development plans remain unchanged. We believe that it is important that the tools to manage MTD are made available at the earliest opportunity as accountants [face a huge challenge](https://www.financedigest.com/factbox-the-challenges-automakers-and-now-tesla-face-with-humanoid-robots.html "Factbox-The challenges automakers, and now Tesla, face with humanoid robots") to get their clients digital ready.”

Small practice [accountants everywhere are concerned for what HMRC](https://www.financedigest.com/hmrc-annual-report-and-accounts-2020-21-debt-at-an-all-time-high.html "HMRC Annual Report and Accounts 2020/21 – Debt at an All-time High") call their ‘Straightforward clients,’ adds Tony Margaritelli, Chairman, ICPA. “They keep manual records or use their own spreadsheet and for some it’s just a bag or box of receipts. How are they to cope and how can we help without trying to teach them bookkeeping or using expensive software? That’s where an App will come in because it will be simple, will need no expertise BUT [importantly will allow our members to retain their overriding control of their clients’ tax](https://www.financedigest.com/rd-tax-important-exemptions-and-upcoming-changes-for-the-it-software-industry.html "R&D Tax: Important Exemptions and Upcoming Changes for the IT & Software Industry") affairs. That’s why the ICPA are working with MyFirmsApp to develop the best product available.”

One of the key benefits of the MTD App-driven solution is that paper records will become redundant as all data concerning receipts and income are stored securely in an Amazon powered server and are available from any computer, phone or tablet with Internet access.

Justin Mays, Head of Research and Development, MyFirmsApp says: “We are working closely with HMRC and are developing the [system to integrate with HMRC’s new API platform so the accountant can view and amend the data](https://www.financedigest.com/interoperability-of-data-to-accelerate-the-whole-slide-imaging-systems-market.html "Interoperability of data to accelerate the Whole Slide Imaging Systems Market") collected by clients and be responsible for all submissions to HMRC. Our [development plans include an enhanced Client Control](https://www.financedigest.com/over-the-air-engine-control-module-market-notable-developments-geographical-outlook.html "Over The Air Engine Control Module Market Notable Developments & Geographical Outlook") Centre that essentially becomes the ‘middle man’ between the App, the client and the Accountant. The potential is enormous.”


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---