There's nothing like the kids' first day back at school and some soggy weather to signal a new beginning. As much as I enjoyed the fresh air and Vitamin D drenched days of summer, I'm ready for what the new season will bring and looking to the future with an open mind.
Isn't September great for reinvigorating yourself with fresh energy and focus - if you can resist the urge to jump online and book your next holiday. We returned home from a week in Croatia on Sunday and so far I've managed to stay away from Airbnb but failed to even get started with the ambitious new exercise plan I've dreamed up. I'm all about progress not perfection though and pleased to say I'm currently over-performing when it comes to chocolate consumption and getting an early night.
Enjoying the view from my bed in Croatia
Even though the view from my desk isn't quite as special as it was on holiday, as I look ahead to the rest of the year I'm excited about the big events coming up in our calendar. As a mostly home-worker, I crave connection more than ever.
Accountants Forum Azerbaijan
Later this month I'll be in Azerbaijan speaking at the
Eurasian Forum of Accountants and Auditors about what the future looks like for Accounting Professionals. I'll be speaking alongside the President of IFAC and the Deputy Finance Minister of Azerbaijan at the event which is organised by our partner there, Nuriyya Novruzova.
The future is human
And while even my 7-year old is learning to code and writing and illustrating her first novel with Chat GPT, it's easy to assume that the future will be tech-dominated and the path to it somewhat opaque. But you can bet when I'm at the Accountants Forum in Baku, I'll be talking about how it's the humans wielding the tech that are the future. And we can all be part of building that future as long as we hold onto our values and professional skepticism and stay open to change.
Unfortunately my mini-break in Azerbaijan means I'm missing one of my favourite events of the year, but you should still come and visit the rest of the ICB team on our stand at
Accountex Manchester on 17 September.
An event that I certainly won't be missing is of course the
Bookkeepers Summit and LUCA Awards live on 11 November and then online throughout that week. If you're ready to embrace change and stay ahead of the curve I trust I'll be seeing you there - this year it's all about the 'Bookkeeper of the Future'. We're discussing how to foster a future-ready mindset and the different ways bookkeepers are finding success in future-proofing their practices.
MTD is a huge opportunity for bookkeepers
Make no mistake, MTD for Income Tax is a bigger deal than what we went through for VAT because the 1.75 million tax payers (!) whom it affects in the first two years (2026 and 2027) aren't already in the habit of submitting this information quarterly and so having to use bookkeeping software and send figures to HMRC every three months is going to come as a big shock.
HMRC recognises the impact that bookkeepers will have on the successful roll out of MTD for Income Tax and also the impact that it could have on you and your business.
l-r Steve Worrall C.FICB, Craig Ogilvie HMRC Director of MTD, Ami Copeland ICB CEO, Stewart Brown MICB, Suzanne Newton HMRC Director General for Change Delivery, Lenny Barry HMRC Engagement Manager
MTD for Income Tax is a huge opportunity for you if you want to support existing clients with their quarterly submissions, or provide this service to new clients - those with self employment or property income totalling £30,000 are affected in the first two years. We're also seeing that accountants focussed on annual tax services are looking for bookkeepers to bring in-house or outsource to in order to deal with the increased demand.
More time to apply for a LUCA Award
As you know the Summit isn't just about learning, looking to the future and staying abreast of government developments, it's also about celebrating! Make sure you
apply for a LUCA Award this year - we've extended the application deadline and made it easier than ever. Visit our application site and you'll see that each award category has clear questions for you to answer, so you don't need to start your application with a blank page. Applying is free, so there's nothing to lose.
And don't forget to have your say in our thrilling vote for your favourite vendors and suppliers. Voting opens next week and bookkeepers' opinions on software are really the only opinions that matter.
New season, new Budget
Before the month is out, I hope you'll be tuning in for the latest installment of your regular Member Technical Update webinar with tax expert Amy Chin on 26 September. Amy will be giving us the inside scoop on what's coming in the new goverment's first Budget from the UK's first female Chancellor on 30 October. As always, following the Budget, we'll be rounding up all the changes, new rates, and key implications in a dedicated Budget update for you.
With all of the government's talk of growth tempered by warnings of a 'painful' Budget, I can't help but be reminded of the work that bookkeepers do. As you help businesses by holding them accountable and bringing them up to speed with their numbers, sometimes you have to bear bad news. But it's with your stewardship and support that businesses can grow confidently and intentionally, and realise their greatest ambitions.
The future's bright, the future's bookkeeping
Every now and again someone suggests to me that we should try to change the term 'bookkeeper' because it's old fashioned, or too literal in a way that's no longer relevant. I always ask - what word could ever sum up everything that a bookkeeper does? What word could better convey the value a bookkeeper is capable of bringing?
And actually, I love the word 'bookkeeper'. Not just because bookkeeper/s and bookkeeping are the only words in the English language that contain three sets of double letters, but because I think the word 'keeper' does a pretty good job of conveying the care you take and the responsibility you take on. Evolved from the Old English word "cepan" (around the 12th century) meaning "to hold, or observe," it evolved into the Middle English word "kepen", which means "to guard, watch over, or care for."
At this week's MTD meeting with HMRC, ICB Advisory Council member Julie Branham FICB PM.Dip spoke about the need for compassion. Not all business owners feel confident snapping receipts with their phone, let-alone using software for communicating with HMRC.
There is a huge need for caring, compassionate bookkeepers to help 1.75 million taxpayers manage this massive change over the next three years. The reason I get a thrill when I think about it, is that I can see how this opportunity plays so well to a bookkeeper's strengths - I know that there's no one better placed to help self-employed people open their eyes to the joy of regular bookkeeping, real-time digital records, great software and financial clarity.
Have a marvelous month,
