From April 2019 all VAT registered businesses with a turnover in excess of the VAT threshold (currently £85,000) will be required to submit VAT returns via compatible software.
Here at G W Dick & Co we have been preparing for the huge impact that Making Tax Digital (MTD) will have on how businesses and individuals report their affairs to HMRC.
Over the last two years we have been communicating with clients on a one-to-one basis, discussing the best digital solutions to meet their needs.
To enable you to comply with the new MTD requirements our cost effective solutions include;
- MTD Book keeping services – we will take care of all your MTD requirements, so you can concentrate on running your business.
- MTD compatible software – we can provide you with MTD compatible software allowing you to maintain all of your digital records and submit quarterly updates yourself.
- MTD Book keeping training – we can train you in how to keep MTD compatible digital records.
What should you be doing now to prepare for Making Tax Digital?
- If you haven’t already done so, speak to your accountant.
- Review all of your bookkeeping processes that revolve around generating your VAT return.
- Ensure you are using software that is compatible with HMRC’s Making Tax Digital programme.
- If you currently use a manual system then you will definitely need to consider obtaining MTD-compatible software.
We have entered into agreements with the top 3 software companies in the UK (QuickBooks, Sage and Xero) and are able to supply their MTD compatible software at competitive prices.