Preparing for Making Tax Digital – Not long now…

If your turnover is over £85k and you are VAT registered, you have just over twelve months to ensure you are using HMRC approved accounting software to be able to be able to submit your VAT return.

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.

So it’s time to decide how you will digitalise your records in order to meet HMRC requirements ahead of April 2019.

From April 2019, legislation will require businesses above the VAT threshold to set up a digital tax account and file quarterly returns online via record keeping software as near to real time as possible on devices such as PC’s, tablets and smartphones. Preparation starts now, with businesses and accountants moving online to improve efficiency, boost profitability and make the transition painless.

Whiting & Partners are holding a series of FREE MTD Seminars throughout April and May which are designed to help you make those important steps towards understanding the upcoming legislation. You will also be presented with practical advice on preparing your business for MTD and considering cloud accounting and cyber security.

Suffolk events are in Bury St Edmunds and Newmarket and there are others in East Anglia take a look at the full calendar of dates and locations here. To book your FREE place please contact Victoria Scott by telephone on 01284 752313 or email at [email protected].