FreeAgent is accounting software. They have just introduced additional functionality that allows small business owners to file their UK Self Assessment tax returns directly from their accounting software.
Clearly Shealan is very pleased about this. I wonder if FreeAgent's accountant customers will be as pleased.
Back in June 2011 I wrote about profitability in accounting firms and my post drew this, instant response from Ed Molyneux, one of the founders of FreeAgent:
Although I think Ed's comment was too confrontational, I cannot argue with the essence of his message: that the market is inexorably taking away the compliance work "comfort blanket" from accountants in practice.
Now seems a good time to reiterate what I said in January 2010:
Those with imagination will already have begun moving the focus of their practices away from compliance work and on to monthly "virtual CFO" and strategic planning services. But, for those lacking imagination and the will to change, the inevitable future is going to be bleak, I believe.