I used to think that but having set it up with all my months in one workbook O can now alter one figure in any spreadsheet and it automatically changes every sheet linked to it I have now an up to date profit or loss figure, instead of doing my tax returns in jan just before the deadline I had last years done and submitted by mid April.Indeed, it is a complete waste of time and a botheration for no good reason whatsoever.
In a year or so's time they will require quarterly accounts from all self employed people, which is yet another way for them to create jobs for the boys and add uncompetitive costs onto small businesspeople. To what end? It will not increase their tax revenue overall and will be a complete administrative ball-ache and increase in accountancy cost for everyone concerned. At its simplest, I hope it can be done just by using the VAT figures, to save duplication and time, but if I were a betting man I would put money on them requiring the use of accounting software which only a tiny minority currently use. Yet again I need to know, why?