HM looks to the digital generation for Making Tax Digital insights
Michelle Guy, Donna Hyland, Daren McDowell, Lesley O'Hanlon
We were delighted recently to take part in the 'Leadership Challenge' with The Graduate School at Queen's University.
We jumped at the opportunity to contribute to the development of our future business leaders when asked. Our specific task was to set a real world challenge to four groups of graduates who would then offer us solutions. The challenge: tell us how the introduction of the new digital tax system, Making Tax Digital (MTD), was likely to impact on Harbinson Mulholland (HM) and its clients.
As a firm HM is keeping up to date with all the latest developments around MTD, but having an opportunity hear what members of the digital generation made of this coming change was something we were excited to explore.
With great support from the Graduate School staff, the groups presented to us some research insights about how digital tax roll-outs have fared in other countries such as Denmark, Australia and the US. We learned a great deal about approaches that worked and those that didn’t! Suggestions on how best to structure and skill up our own team to ensure we have the expertise and agility to respond to the needs of our clients was also welcomed. The overall verdict was that an accountancy practice like HM along with our clients has much to gain from MTD. There will be pain ahead, as with any change, but we feel even more confident now of our capacity to navigate the changes.
Speaking about the experience Partner Darren McDowell said: “HM is up for the challenge of MTD and this engagement with Queen’s University evidences the importance we are applying to it. Our team is committed to helping our clients meet their obligations under the new regime. For many the first step is to get the right software in place. We can help with this, so I’d encourage anyone nervous about the changes to get in touch. ”
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