Scan It, Shred It! Making Tax Digital With Document Solutions
Companies that use digital copies of documents rather than physical copies are leading the paperless revolution. The UK government is increasingly pushing for more sustainable efforts and their new strategy will digitise the tax administration system for VAT, Income Tax and Corporation Tax by April 2026. This new requirement will create a necessary push for any companies or individuals previously hesitant to go digital.
Digital Transformation Strategy
Digital technology transforms the workplace. It improves productivity and efficiency and reduces operating costs. Many businesses are driving digital transformation forward with the implementation and demand for digital solutions. Organisations that simplify and automate their document solutions transform their business processes and explore the value of the information currently hidden in their paper records.
Accessibility and efficiency are two key goals attracting companies to digital transformation and, as we can see with the Making Tax Digital scheme, governments are implementing changes on how we organise and store information.
Digital transformation is also beneficial for companies that care about their carbon footprint. Phasing out old print, scan and shred technology and replacing it with new, sustainable document solutions can help make an office more environmentally friendly and help meet Corporate Social Responsibility (CSR) goals.
Discover more information on sustainable document solutions.
Scanners such as the ScanSnap iX1600 and ScanSnap iX1400 help companies adopt digital transformation in the office, at home or wherever they may be based. While some practices and individuals have already, change word practices to organisations.
Making Tax Digital
How we manage, organise and submit tax is changing for companies and individuals. Across the UK and Northern Ireland, a new set of rules are coming into effect, aiming to encourage digitisation efforts.
Making Tax Digital or MTD is set to be introduced across four years, starting with VAT ending with Corporation Tax by 2026. Self-Assessment Tax Returns will be tackled by 2024, simplifying the process and eliminating paper copy storage for accountancy firms across UK&I.
Based on the growing popularity of digital transformation practices and environmental efforts, it comes with no surprise that the government is tackling excessive and inefficient paper taxes. Digitisation eliminates the struggle for available space to store relevant documents. It also increases productivity as individuals don't need to waste time finding the correct paperwork.
While some practices and individuals have already implemented digital strategies, others will have to introduce them to follow the government guidelines. It will create a demand for reliable and effective devices to optimise digital tax operations.
Benefits of MTD
The introduction of MTD is intended to make it easier for individuals and businesses to complete their taxes while keeping an eye on their taxes in real-time.
HMRC is set to ‘become one of the most digitally advanced tax administrations in the world’. The Making Tax Digital strategy is based on continuous research on how people manage their taxes. The key benefits that the government intends to achieve with MTD are:
- effectiveness
- efficiency
- simplified process for taxpayers
Similar to online banking, Making Tax Digital will provide users with an online account. This way, businesses and individuals will be able to take ownership of their taxes. Via this online account, HMRC systems will enable people to send and receive information using the software.
ScanSnap Scanners For MTD And Moving From Paper To Digital Processes
The ScanSnap iX1600 and iX1400 scanning solutions have the power to transform time-consuming tasks compulsory for MTD and create a smooth and effective operation. While contributing to the digital transformation and the move to digital processes and smarter ways of working, ScanSnap and Fujitsu scanners offer quality and reliability. ScanSnap scanners allow users to scan everything from receipts, invoices and train tickets, providing an effective way to store documentation required for VAT, Personal Tax Returns or Corporation Tax Returns.
ScanSnap iX1600
An ideal scanner for busy teams, the ScanSnap iX1600 can be shared with four unique users. With innovative features like ScanSnap Home, workers can review, manage, tag, search and retrieve documents in moments – streamlining productivity.
With one touch, this model will automatically scan, recognise, and classify up to four different document types (documents, receipts, business cards and photos) and save them each to a preferred destination – even in the cloud.
With a speed of 40 pages per minute, the iX1600 automates essential tasks through a predefined profile and task buttons on a colour-coded LCD touchscreen for maximum productivity. And as it’s Wi-Fi enabled, it allows users to connect hassle-free.
ScanSnap iX1400
Offering advanced yet refreshingly simple technology, you don’t need to be a tech whizz to reap the benefits of this scanner. With a speed of 40 pages per minute and a single button interface, it’s simply designed to turn time-consuming admin into quick and easy tasks so individual workers can use their precious time more productively.
Using the Quick Menu, users can scan and convert documents into editable files for familiar applications such as Excel, PowerPoint and Word or extract data from receipts and business cards. While with innovative features like the receipt guide, users can scan small and multiple documents together, saving time and energy scanning them separately.
The smart device function ensures that efficient workflow can be managed anywhere, no matter where your desk is. Users can scan important documents on the go using their smartphone or tablet, even when your ScanSnap scanner is out of reach. The data can then be accessed remotely and edited on your device.
Plus, it’s out of the box and ready in minutes. Using one fuss-free USB connector, it connects straight to your laptop or PC, saving you unnecessary time and stress setting it up.
Fujitsu ScanSnap Promotion
For a limited time only, claim a free Fellowes Powershred® LX45 Cross-Cut shredder with every purchase of the ScanSnap iX1600 or the ScanSnap iX1400*.
Find out more and claim your FREE shredder!
It’s the ideal scanner/shredder combination that makes paperwork for you, digitising your paperwork and clearing away the clutter. Delivering high-security performance and compact convenience, Fellowes shredder is the perfect solution to manage your paper.
Align your business with new government regulations by digitising your tax. Join the digital transformation and enjoy effective paper management with Fujitsu ScanSnap scanners.
Discover how efficient document solutions can help your business to be more efficient. Contact our Brand Manager Mark Wysocki for more details:
