Are you ready for Making Tax Digital (MTD)?
If you’re a VAT registered business with a turnover above the registration threshold then Making Tax Digital (MTD) is compulsory from April 2019 and will mean big changes to how you do your bookkeeping. Watch this short video.
What is MTD?
From April 2019 businesses will have to provide VAT information to HMRC through MTD compliant software. If you’re already using cloud based software you may need to do little more than make sure it’s ready and working for MTD. If you’re maintaining pen-and-paper records then the MTD initiative is about to force upon you a huge change in your working practices.
HMRC recently issued their VAT Notice 700/22: Making Tax Digital for VAT detailing exactly what is required of the software you choose.
If you are maintaining manual bookkeeping records then please contact us immediately to discuss how we can help you implement MTD compliant bookkeeping.
Enjoy saving tax?