Toolstation has launched an offer, designed to help electricians, plumbers, carpenters, builders and other tradespeople, save money and help them run their businesses more conveniently. Existing and new Trade Credit Account customers can secure a FREE year subscription to Quickbooks accounting software.
The launch comes as research by Toolstation reveals that 40% of tradespeople manage their own accounts, but 60% of those don’t use any software to help. In fact 26% of tradespeople find keeping on top of paperwork the most challenging aspect of their job.
The initiative has been launched as HMRC is set to introduce its Making Tax Digital rules from April 2023. Under these new rules, any business or sole trader with an income of over £10,000 will have to file returns to HMRC quarterly instead of annually as they currently do. In practical terms it means they will need to use compatible software to keep their records and send an income and expenses summary to HMRC every three months.
Toolstation’s Trade Credit Business Development Manager, Renato Vieira, says: “It’s clear from our research that almost half of tradespeople manage their own accounts and that’s one of the reasons we have launched this new initiative, to give them a helping hand. While the Making Tax Digital rules are intended to make filing tax returns easier, many don’t currently use any software to help them, so we would encourage anyone with a Trade Credit Account to take advantage of this free offer to help them with their paperwork and quickly prepare for these new rules.”