The MyFirmsApp team released this weeks’ Budget update for accountants and their clients in almost real-time.

MyFirmsApp, the global number one provider of bespoke Apps for accountants and bookkeepers, has delivered critical Budget content along with commentary to 1200 accounting firms in the UK following the first Monday Budget since 1962.

Headline news from Philip Hammond’s Autumn Budget 2018 has reached more than a quarter of a million UK businesses and individuals on the home screens of their smartphones and tablets. The up-to-the-minute Budget news appeared within the Accountant’s App, which holds a useful combination of content, tools, features and a full Budget Pack which was made available the same evening.

With the support of the North East firm of Chartered Accountants, Tait Walker, the MyFirmsApp team has worked hard to ensure all changes were communicated as soon as Philip Hammond started to make his announcements in the Budget, which started at 3.30 p.m.

The key changes announced in the Budget include:

  • Raises personal allowance to £12,500 from April 2019

  • Raises the higher rate to £50,000 from April 2019

  • Extra £1bn for Universal Credit over five years

  • UK digital services tax to be introduced on firms that generate £500m in revenue

  • Business rates to be cut by one third for firms with a rateable value of less than £50,000

  • Fuel duty to be frozen again for ninth year in succession

  • Duty on beer, cider and spirits – but not wine – frozen for a year

  • Work allowances in Universal Credit being increased by £1,000

  • £500m for housing infrastructure fund

  • £25bn in real terms increase for the NHS

  • An extra £1bn for the MoD for this year and next

  • An extra £160m on Counter Terrorism funding in 2019/20.

  • £10m of funding for air ambulance services

  • £400m fund to help schools buy the extras that they need

  • £420m being made available immediately to help council tackle pot holes

  • £695m initiative to help small firms hire apprentices

Mike Page, Head of Product Management, MyFirmsApp said: “Accountants are firmly in the digital age and their assets are also digital. Instead of producing budget cards that list the changes announced this afternoon , which then need to be sent to clients, the digital age allows an instant turnaround that enables key changes to be communicated in almost real-time via the screens on clients’ smartphones. The digital age is helping accountants to achieve transformational efficiencies and to be proactive and not reactive.”

The Budget and Tax Update provided by MyFirmsApp allows Accountants to communicate changes that affect all individuals and business clients and helps underline their position as trusted advisors.

For those that do not have access to an App, a free demo App will feature Budget news and it can be downloaded easily from the Apple store or from the Google Play store. Enter MyFirmsApp UK in the search box.

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