2023: a year in review

As we bid farewell to 2023, let’s flip through the chapters of an eventful year. Despite the delay to Making Tax Digital for Income Tax Self Assessment (MTD for ITSA), we set new records and hit exciting milestones, all with the help of our wonderful Practice Partners. Here are some of this year’s highlights.

AI takes centre stage

Artificial intelligence (AI) was the hottest topic in tech this year. We made sure Partners were up to speed by highlighting the latest insights into its impact on the accounting industry - cutting through the hype and delivering straightforward, practical advice. 

FreeAgent’s Tony Stevenson FCA and Craig Clarke kicked things off with ‘Beyond the buzz: how accountants and bookkeepers can leverage AI’, a CPD-acredited webinar featuring Jordan Vickery (Digital Accountancy Show). They discussed how accountants and bookkeepers should consider AI as another string to their bow rather than something that takes away from their roles. When used to expedite time-consuming and repetitive tasks, practices can focus on building stronger relationships with their clients.

“The promise of AI is that it will lift the burden of mundane, repetitive activity away from us to leave more capacity, context and care to tackle the challenges only the human condition can master.” - Craig Clarke

For those keen to begin incorporating AI into their practice, they recommended starting with tools such as ChatGPT and Bard and using basic prompts to create social media posts or blog posts.

AI was also FreeAgent’s main focus for presentations at the industry’s leading events, including Accountex Summit Manchester and Accountex Virtual Summit. And if you haven’t seen our AI spotlight in Taxation magazine, there are a range of blogs on our exclusive Practice Portal, including How AI is shaping the accounting and bookkeeping industry.

Smarter, better FreeAgent

Listening to your needs, we continued to refine our software and introduced exciting updates and integrations. 

Product updates

Smart Capture 

In November, we introduced Smart Capture, a new and improved version of our Auto Extract feature that automatically extracts the date and amount from receipts. Using Smart Capture, you and your clients can now:

  • Upload files via the desktop version of FreeAgent as well as via the mobile app
  • Upload PDF files as well as photos
  • Upload files individually or in bulk

Self Assessment filing for unincorporated landlords 

Autumn also brought an update to FreeAgent for Landlords, our dedicated solution for clients with property income, that allows you to submit these clients’ Self Assessment tax returns directly to HMRC from FreeAgent. 

Metro Bank & American Express bank feeds

We know that many of you had been requesting this for a long time! So, we were delighted to announce the launch of Open Banking bank feeds for Metro Bank small business accounts. And that’s not all - we also now support American Express! 

Integrations

Amazon

It was also exciting to announce our new integration with Amazon that allows clients with an Amazon UK Marketplace account to connect directly to FreeAgent. This integration brings a host of automation options that enbale you to work more efficiently with clients who sell on the world’s biggest online marketplace. 

Syft

Earlier in the year, we released an integration with Syft, a powerful analytics tool that helps practices create reports and uncover insights about their clients. Syft uses transaction-level data to let you drill down into the nitty-gritty details of your clients’ financial performance and pinpoint potential issues or opportunities as they arise, allowing for more proactive and valuable conversations. 

Enhancing the Mettle experience

Last but not least, we’ve been working hard to offer an even more enhanced experience for Mettle clients. Your clients can now see estimates of their tax liabilities in the Mettle app, just like the Tax Timeline in FreeAgent. This real-time view of how much they owe and when it’s due can help your clients stay ahead of their obligations and avoid any nasty surprises when it comes to their tax bills. 

An eventful year

Throughout 2023, FreeAgent delivered a series of CPD-accredited events and webinars, sharing the latest industry insights and tips. Here are just a handful of standout moments. 

Accountex

Every year gets bigger and better for us at Accountex - and 2023 was no different! Our stand (with our new branding!) was right next to the main stage, complete with a caricaturist and plenty of Tunnocks teacakes. Tony Stevenson FCA and Dave Norwell presented ‘The secret to driving digitalisation for smaller clients', detailing how FreeAgent can help clients to adopt technology. If you’d like to learn more, here are five ways to help your clients embrace digitalisation.  

Partner roadshows

Twice a year, the FreeAgent team hit the road and tour the breadth of the UK to share the latest developments from FreeAgent HQ, discuss industry updates and catch up with Partners. At our Spring roadshow, we discussed how to set your practice up for success following the delay to MTD for ITSA. And in October, we visited a range of exciting venues, including HMS Belfast and Old Trafford, to help all 301 of our attendees thrive in 2024 and beyond. Thanks to all who joined us! 

Webinar highlights

We planned a jam-packed programme of CPD-accredited webinars, with useful topics for your practice and clients. Guests included Azets, Dext, Gorilla Accounting, Mettle, Pixie and more!

Casting our minds back to February, many of you attended ‘MTD for ITSA delay: keep your clients on the digital path’ for tips on motivating clients to continue to embrace digitalisation. In April, FreeAgent’s Gem Malek hosted a webinar on the cost of living crisis, providing helpful tips on how to help your clients maintain a healthy cashflow and lower their overheads. 

Towards the end of the year, we hosted a successful series of Self Assessment webinars (which you can still watch ahead of January!): 

We’re excited to bring you more webinars in 2024 - hope to see you there! 

In other news…

A fresh lick of paint

We did a bit of spring cleaning in April, giving FreeAgent a new look. Our in-house designers created a new colour palette and selected a fresh font. We also worked with renowned type designer and lettering artist Rob Clarke to develop an evolved logo that’s simpler, more accessible and more legible. 

If you use the FreeAgent logo on your practice website or marketing materials, make sure you update it to reflect our new branding. We’ve created a handy pack for you to download that contains the new logo, updated Partner badges and detailed usage guidelines. 

Friendliest Software for the fourth time!

In November, we won ‘Friendliest Software of the Year’ at the Institute of Certified Bookkeepers (ICB) LUCA Awards 2023. Whether it’s our friendly account managers, our dedicated support team or the exciting annual Bookkeeper Boost Week, we’re delighted to have our efforts recognised by bookkeepers. It’s the fourth time FreeAgent has taken home this award, following wins in 2019, 2020 and 2022. We’re not sure what happened in 2021.

Thanks again to our FreeAgent Practice Partners - we wish you, your practice and clients all the very best for the year ahead.