You may have seen the adverts for Making Tax Digital on the TV and online recently. It represents quite a significant change in the way that businesses do their accounts and their obligations.
In short, you will need to use Making Tax Digital compliant software to present your accounts to HMRC in the future.
Making Tax Digital is being rolled out in two separate stages:
From April 2019, Making Tax Digital for VAT is being introduced. If your business currently has a turnover of more than £85,000 you will need to maintain digital records from now on and submit them to HMRC via compatible software. Some more complex businesses have until October 2019 to comply.
All accounting services are undertaken by skilled, fully qualified staff who have many years’ experience in the industry. We also offer on-going business support and advice for start-ups, small businesses and expanding limited companies, and additional support services including cash flow projections and forecasting.