Making Tax Digital
We'll ensure you're prepared for the changes of Making Tax Digital in ways that can also bring huge benefits to your business.
Making Tax Digital begins
The first phase of Making Tax Digital officially went live on April 1st 2019 – affecting most businesses with a turnover above £85,000. However, there are still many businesses that are unprepared for the changes as they aren’t aware of them, they don’t think they are affected, or they are simply choosing to ignore them. Make no mistake - Making Tax Digital is happening and the onus is on you to make sure you are compliant.
Choosing compliant software
If you are already using software, the changes MTD will bring will be relatively easy but, for those businesses still using cash books, excel spreadsheets or just manually adding up the entries on bank statements, this will bring major changes to how you keep and maintain your books and records.
Digital record keeping
You will be required to use your software to comply with HMRC’s regulations for digital record keeping and provide VAT return information.This will involve recording business information, and records of services/products supplied or received, such as online invoices and sales data and sending quarterly tax data to HMRC.
Software help & support
Our team of experts are on hand to provide everything you need with minimal disruption to your business. We can review your current software and systems, convert any existing software onto new systems or provide one to one training, advice and support.