Making Tax Digital
Making Tax Digital
From April 2019 HMRC requires all VAT registered business with turnover over the VAT threshold to be Making Tax Digital (MTD) compliant. This means that the business records must be kept digitally and the VAT return must be filed using MTD compatible software.
Although there is no date set for other businesses and income tax and corporation tax to become MTD compliant, it is the intention of the government to put this in place. Therefore, many businesses are preparing for the change.
Make sure that you aren’t caught out by being late and risk fines.
ProtiQ Chartered Accountants are able to provide clear and effective guidance and advise. In addition to this our great value packages provide a cost effective method for managing your taxes and getting you MTD compliant.
What’s The Benefit?
Making Tax Digital is all about keeping clearer records and well maintained financial records. This helps HMRC to properly analyse and assess your businesses finances. However it doesnt only have to be HMRC that benefit from MTD.
With ProtiQ Chartered Accountants, our MTD packages are the most efficient way to get your business MTD ready as well as ensure that you are completely compliant. Our MTD service will also provide you with a clearer insight to your businesses finances through intuitive reporting.
We also cater to tailor made plans and our helpful consultants can work with you to create the perfect plan and course of action.
Of Businesses Are Still On Pen And Paper Accounts
Benefits Of Cloud Software?
Change may seem daunting, especially when a business only has manual records. However, there are many benefits in moving to cloud based software. Not only will the business be MTD ready, businesses can receive better quality date from their packages, moving towards more real-time information. This could help businesses monitor their performance more closely and identify inefficiencies more easily. Businesses can also keep a closer eye on their cash as many of the software allow for your bank to feed your business account data directly to your software. There are many more benefits of cloud software, depending on how automated you would like your systems to go.
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Protiq Accountants LTD
110 Butterfield, Great Marlings, Luton, Bedfordshire LU2 8DL