Making Tax Digital

November 22, 2018

Most clients I speak to have not heard of MTD. It’s not something you can ignore if your turnover is above the vat threshold – this will affect you from as soon as April 2019.

What is Making Tax Digital?

Making Tax Digital (MTD) is part of the government’s plan to make it easier for businesses to stay on top of their day-to-day accounts. HMRC wants to be one of the most digitally advanced tax administrations in the world – improving efficiency, effectiveness and ease of compliance. The plans signal the end of paper accounting for millions across Britain.

From April 2019, legislation will require businesses above the VAT threshold to set up a digital tax account and file quarterly returns online. Preparation starts now, with businesses and accountants moving online to improve efficiency, boost profitability and make the transition painless.

But not to worry! This is what I do and I can help you with the transition and help you set up your electronic book-keeping.

I am a Xero Ceritifed Advisor and can help set you up and train you how to use the software, or alternatively take it all off your hands and do it all for you, leaving you free to concentrate on your business.

Contact me today if you want any further advice or for a free initial consultation.

Lindsey Bowen FMAAT, Director.