It was just a matter of time before someone automated the filling of returns to HMRC and Companies House. From paper receipt through to tax returns, this is the first step towards a complete link in the automated accounting chain.
Instafile was created to help small businesses avoid the ordinary pitfalls of the government’s manual systems and allow them to file returns themselves in minutes.
That’s what Instafile is: stress-free filing in minutes. And it’s only £60.
Instafile takes the financial data from your Xero system, carries out some checks on that data, and then converts it into a series of statutory reports using an industry-standard business language known as XBRL. These reports are then filed with Companies House and HMRC.
When founders Keith and Alvin established a small software development company, they began using Xero on recommendation, keen to make the most of cloud accounting. However, they were nervous of making mistakes when it came to their first tax return and found the whole experience very clunky. Here was an opportunity to give small businesses like themselves the confidence for self-submission at little cost, taking cloud accounting to the next level.
It’s getting great reviews in the Xero Community “This is an excellent plug-in providing an easy to use interface with very good customer support. It allows you to submit corporation tax and Companies House filings directly from Xero with a minimum of fuss. I'd strongly recommend it to small businesses using Xero to manage their accounts.”
Hoping to be the preeminent e-filing solution for small businesses owners using Xero, Instafile understands the two things that matter most:
Never file anything wrong and never file anything late.
Also useful for in-house finance professionals within start-up businesses looking for a solution to their one time filing needs, Instafile helps them get their returns over the line with minimal fuss.
The Instafile team used an extensive beta testing programme with their first wave of clients to make sure the system worked as expected and that all users could be fully supported. Instafile has inbuilt automated checks to ensure quality in the reporting process and the team is constantly working with clients to allow Instafile to manage increasingly complex data sets.
Instafile’s sales team also review how appropriate the tool is for the client. If the business’s level of accounting knowledge is not a good fit for self-filing, Instafile will refund the user and advise that they get an accountant. Not every user is the right fit for e-filing and Instafile readily acknowledge the vital role accountants play in the lives of many businesses.
As Keith points out, “I know a number of great accountants and I would advise every business that reaches a certain scale or complexity to run out and get one… They have a wealth of knowledge and experience they can use to help businesses use their data from the cloud to grow and become more profitable.”