Making Tax Digital is upon us . . . Are you ready?
Making Tax Digital (MTD) is an HMRC initiative that requires VAT-registered businesses above the £85k threshold to keep digital records and submit VAT returns using compatible software. If that’s your business, you’ll need to be compliant from 1 April 2019.
So…. What do you need to do to be ready for Making Tax Digital?
Well, you’ll need to make sure you’re using accounting software that is compatible with Making Tax Digital. Click HERE to see a list issued by HMRC of compatible software.
You’ll then need to register with HMRC for Making Tax Digital. Log in to your businesses government gateway account and the link should be there to register for Making Tax Digital.
If you would prefer to have your accounts and VAT managed by us, give us a call to find out how we can help you.