• Coacha and
    Making Tax Digital
    There are changes coming for the way that VAT-registered
    organisations record/submit tax returns from April 2019.

    Wondering the best way to take your sports club forward?
    Read on to see how Coacha can help with the implementation
    of Making Tax Digital.


What is Making Tax Digital and who does it apply to?

Is your sports club a VAT-registered business? Does it have (or is it approaching?) a taxable turnover which is over the VAT threshold? If so, did you know that there are new requirements for the way you keep your records/submit your tax returns as of 1st April 2019*?

From this date, you will need to use the government’s Making Tax Digital service to keep all of your records digitally and you will need to use software to submit your VAT returns.

This is just the beginning of a shakeup of the way taxes are recorded/submitted. The only tax that Making Tax Digital will affect until April 2020 is VAT. The government are then expected to roll the changes out elsewhere from 2020..

*‘Some taxpayers will be exempt, such as charities, community amateur sports clubs (CASCs); and taxpayers who can’t use digital equipment due to disability, age or remoteness of location.’

How does Coacha help?

We’ve already had a few clubs get in touch asking if Coacha can help them become ‘Tax-compliant’ by April. It’s like the GDPR deadline all over again!

We think the most important thing to get across to users is that Coacha is not a piece of accountancy software and therefore using Coacha alone will not make you ‘tax-compliant’.

We’re a piece of club management software that helps you to run, manage and organise your club and its finances. From an accountancy and business processes point of view, Coacha acts as an interface that links to your Stripe account. We don’t specifically perform transfer of finances directly to the HMRC.

In fact, finding software that provides both club management tools and is a fully blown accountancy package is hard… From our research it would seem that no other membership management software platforms offer accountancy as part of their software across the whole industry. Club management and accountancy are completely separate and have specific unique needs.

If you were to ever find a piece of software that does both let us know, as we imagine it would be complicated to use, not to mention expensive.

However, Coacha can help. And it more ways than one.

The 3 important requirements of Maxing Tax Digital

1. All financial info must automatically filter into your digital tax account.
2. You must submit at least once per quarter.
3. Submissions need to be filed using software. So, this needs to be an application which is linked to your digital tax account.


Now it’s time for the good news, if you run your finances through Coacha, you’re already part-way there because we use Stripe! And Stripe integrates with systems that filter your finances into your digital tax account.

The missing link between Stripe and the filtration of your finances into your digital tax account is a piece of accountancy software.

The Process


So essentially the process you’ll need to undertake is as follows:

1. Set up finances in Coacha which will be taken by Stripe
2. These are automatically managed and reported in Stripe
3. Connect your Stripe account to accountancy software
4. Easily make submissions into your digital tax account


Some accountancy software that we’re aware of that already integrate with Stripe are Xero, QuickBooks and Sage. Any of these will help you keep on top of your organisation’s accounting and bookkeeping needs.


What if I have an accountant?

If you have an accountant, we’re sure they’ll already have everything in hand and will usually submit your VAT return/yearend reports for you. But just by using Coacha and Stripe, you’re already making life easier for them. This is because you’ve allowed a clear, concise and accurate record of your finances to be created, all in the same format.

In fact, we spoke to one of our newer users this week after they’d met with their accountant. They told us, “My accountant absolutely loves the fact I’ve chosen Coacha as my new system because it makes her life so easy!”

To conclude

As always, we’re trying to make life easier for you. Even though we can’t directly help with the implementation of your finances into your digital tax account, we can point you in the direction we would go ourselves. And if you have any questions that spring to mind, you know where we are.


The Legal Stuff

The content of this article is intended to provide a general guide to the subject matter and is not to be regarded as a substitute for consultation with a financial specialist who can advise you with a focus on your specific circumstance. Specialist advice should be sought about your specific circumstances.




Testimonials

Taylor James

Taylor James

Sep 25, 2018

Always do their best to help sports clubs save time, money and do more things that they enjoy.

Kelly Loughlin

Kelly Loughlin

Sep 25, 2018

An amazing service, has saved me hours and hours of admin. Easy way to take payments and safely store athlete details. Such a huge weight off my shoulders!

Marley Hughes

Marley Hughes

Sep 6, 2018

Couldn't run my swimming classes without it now. The team are just great, really helpful, will always help you out. The system is really reliable - I tried a lot of different pieces of software and none matched Coacha for price and features. Thanks guys. x

Kim Readman

Kim Readman

Nov 7, 2018

Great software, still very much a work in progress, but fantastic so far and the customer service is absolutely first rate :)

Jess Mortimer

Jess Mortimer

Oct 1, 2018

We have just started using Coacha this season and honestly it is one of the best decisions I have made this year! I used to spend hours on admin, chasing people for payments, taking cash & cheques to the bank and then checking to make sure the payments had actually gone into our account. Now I no longer have to write out invoices or handle cash and Coacha wil... l do the chasing for payments for me - which is amazing! Whenever I have any questions I get straight on the phone and their amazing team have either got the problem solved in seconds, or they get back to me as soon as they can with a solution. I cannot recommended this software and the support team enough. Thank you from one happy and less stressed Cheerleading coach!  read more

Katie Dignan

Katie Dignan

Sep 25, 2018

Amazing software that has helped our club so much!

Nick Phillips-Holt

Nick Phillips-Holt

Jul 27, 2018

Coacha is superb. I run a shooting range in Gloucestershire and it helps me keep on top of my admin. Helpful support. Very good software that they should charge more for!

Alice BK Robinson

Alice BK Robinson

Jan 22, 2019

Brilliant service, saved us so much time in the office meaning we can spend more time actually coaching!! 100% recommend!

Brooke Hockley

Brooke Hockley

Sep 26, 2018

Before heading into our second season as a club and doubling in size we were very apprehensive about the administration aspect. I am so grateful to have come across coacha as it has made my life seamless in terms of the membership process among other factors such as data protection. We have also set up a stripe account to collect our monthly fees and I am very ex... cited about this as it is going to completely eliminate the tiresome process of chasing people. The report section of coacha is also really handy to be able to track who has set up their subscription. Taylor & the coacha team’s response time to feedback is excellent and I have been very impressed with the service so far. Coacha is revolutionising the way we work and they are doing a fantastic job!  read more

Molly Jewitt

Molly Jewitt

Jan 8, 2019

The Coacha software has made managing our swim school so much easier! So simple and straight forward to use and saves hours of admin work.
No more chasing people for payments getting half cash half bank transfers or having to think who paid what, everything is sorted out with a click of a button! Highly recommend, great software!

Taylor James

Taylor James

Sep 25, 2018

Always do their best to help sports clubs save time, money and do more things that they enjoy.

Kelly Loughlin

Kelly Loughlin

Sep 25, 2018

An amazing service, has saved me hours and hours of admin. Easy way to take payments and safely store athlete details. Such a huge weight off my shoulders!

Marley Hughes

Marley Hughes

Sep 6, 2018

Couldn't run my swimming classes without it now. The team are just great, really helpful, will always help you out. The system is really reliable - I tried a lot of different pieces of software and none matched Coacha for price and features. Thanks guys. x

Kim Readman

Kim Readman

Nov 7, 2018

Great software, still very much a work in progress, but fantastic so far and the customer service is absolutely first rate :)

Jess Mortimer

Jess Mortimer

Oct 1, 2018

We have just started using Coacha this season and honestly it is one of the best decisions I have made this year! I used to spend hours on admin, chasing people for payments, taking cash & cheques to the bank and then checking to make sure the payments had actually gone into our account. Now I no longer have to write out invoices or handle cash and Coacha wil... l do the chasing for payments for me - which is amazing! Whenever I have any questions I get straight on the phone and their amazing team have either got the problem solved in seconds, or they get back to me as soon as they can with a solution. I cannot recommended this software and the support team enough. Thank you from one happy and less stressed Cheerleading coach!  read more

Katie Dignan

Katie Dignan

Sep 25, 2018

Amazing software that has helped our club so much!