From the Founder – Making Tax Digital is here, are you ready?

25/06/2019 Paul Knappett

With Making Tax Digital (MTD) already upon us, it’s vital that your business is ready to submit VAT returns through an accountancy package. I’m sure you have seen endless amounts of commercials from Xero, QuickBooks and Sage telling you how easy it is to do, but it’s like any system, the information the system produces is only as good and the quality of information that is inputted in the first place.

The first part of ensuring you are ready for MTD is to register with HMRC. This is an easy five minute process and can be completed by clicking on the following link;

https://www.gov.uk/guidance/sign-up-for-making-tax-digital-for-vat

Once you have completed the online form above, the next part is making sure you are keeping accounting records in a format that allows you to file VAT returns through MTD. As simple as they make it sound, ensuring you are inputting the data correctly could save you a considerable amount of VAT or save you a headache later on down the line should HMRC investigate.

We are currently enrolling clients onto MTD and having a team behind you ensuring mistakes aren’t being made will give you that piece of mind to allow you to focus on running your business.

If you would like to find out more about the Making Tax Digital process, either complete the callback form below or call us on 01926 671870.

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