Making Tax Digital is on its way. Next year, if your turnover is over the VAT threshold, you’ll need to submit returns online. In readiness, HMRC has been working with more than 150 software suppliers who have said they’ll provide software for Making Tax Digital for VAT in time for April 2019.
If you’ve got a system and want to check whether it is on the current list of approved providers take a look here.
If you haven’t got any software yet and don’t feel prepared, don’t worry! According to the British Chambers of Commerce’s April 2018 survey, only 10% of firms know ‘a lot of details’ about the switch to the digitised tax system.
Here at Whyfield, we’re can help you select the right system to fit your needs and can get you set up easily – well in time for the deadline.
Our approach is to embrace the change which is why all of our clients are either already compliant with Making Tax Digital or well on their way to it. We’re absolutely convinced that digital accounting will improve your business and the benefits far outweigh the costs.