Hi, I'm Keith - one of the makers of Instafile. We're very excited to be on product hunt! We built Instafile because we use Xero and we needed a quick and cost-effective way to file our own company accounts. And then we discovered a whole group of finance pros who also needed a better way to file too! Any questions or feedback then let us know - we'd love to talk to you!
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Nice idea! A few questions: Is the accounts in compliance with FRS 105? Does the tax return take into account disallowed expenses? Has the output return/accounts been approved by HMRC and accounting associations?
@changlongliu Thanks! And good questions! Yes, Instafile supports FRS105 reporting and the tax return takes account of disallowable expenses.
HMRC operates a 'recognition' as opposed to an approval process. It is non-mandatory and it requires you to support parts of the tax return that are not required by many small businesses. We are currently in that process - adding functionality that we're fairly sure almost none of our customers will need! - but HMRC already accepts tax returns generated by our platform.
Thanks for the idea of approaching the accounting associations - we'll get that process started.
Very happy to answer any more questions and take on board any further feedback.
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