Making Tax Digital (MTD) is almost upon us, why do you need to take action now if you haven’t already done so?
Over the past 2 years we have been busy moving our clients from desktop bookkeeping software to cloud solutions, usually Quickbooks Online in readiness for MTD.
If your business is over the VAT threshold and you haven’t yet made the transition to cloud bookkeeping then you need to take action now. MTD starts from 1 April 2019, this means that you will no longer be able to log on to HMRC and enter in your VAT return figures manually, you will need to be using cloud software.
Once MTD starts for your business it is imperative that your bookkeeping is done to a very high standard, that your banks are reconciled and that your bookkeeping is correct as these numbers will be being sent to HMRC quarterly.
We will be chasing up clients who have still not made the transition to the cloud but, feel free to contact us in the meantime so that we can set up your business correctly. Alternatively, we can take on your bookkeeping, VAT and MTD work for you to save the headache and free up your time to work on the areas of your business that you love.