Making Tax Digital: getting ready for change

From April 2019, all businesses above the VAT registration threshold will be required to keep digital records and file quarterly returns online to HMRC, as part of Making Tax Digital (MTD).

If your business already records financial information digitally, you’ll need to ensure that the software is MTD enabled and compliant, as well as understanding your obligations under the MTD legislation.

Alternatively, if your business does not record financial information digitally, you’ll need to decide how you’re going to manage the change, which is likely to involve transitioning to accounting software.

Whichever route you choose, you’ll need to ensure that your business is MTD compliant ahead of the deadline. If you’ve not already done so, we strongly recommend speaking to us as soon as possible about the upcoming changes.

This will ensure you:

  • Understand the MTD ‘basics’ and how your business needs to comply;
  • Get advice on the use of software or spreadsheets;
  • Obtain recommendations in terms of upgrading your software, if needed;
  • Receive any necessary support with software training.

We are also able to provide a comprehensive bookkeeping and accountancy solution, according to your business needs.

To find out more, please speak to your account manager.