Making Tax Digital
HMRC is changing the way we need to report our finances
Be prepared. Be positive. Free Seminars.
We have been preparing for a while now to help ensure that you can make the transition to digital taxation. For some of us already using computer software to prepare our accounts and submit online there will be little difference; for others there may be a little more preparation to do.
Technophobes listen up! We know that changing the way you work is a hard pill to swallow but think for a minute about of some of the changes in your life that made things easier? Well, this is one of those changes! We are here to help you as much as we possibly can, so there’s no need to be nervous. Our up-coming workshops will enlighten you and open up a positive new world of accounting. Or at the very least, come and join us for a cuppa and a chat.
Accurate, fast and at your fingertips – online accounting
Whatever your situation we’ve got the answer and it won’t hurt as much as you think.
Here’s what’s coming under the new timetable:
- only businesses with a turnover above the VAT threshold (currently £85,000 for 2017/18) will have to keep digital records and only for VAT purposes initially
- they will only need to do so from April 2019
- businesses will not be asked to keep digital records, or to update HMRC quarterly, for other taxes until at least 2020
Making Tax Digital will be available on a voluntary basis for the smallest businesses, and for other taxes. This means that businesses and landlords with a turnover below the VAT threshold will be able to choose when to move to the new digital system.
As VAT already requires quarterly returns, no business will need to provide information to HMRC more regularly during this initial phase than they do now.
You can find the full text about the proposals, timescales on the UK Government Making Tax Digital web pages.
“Sooner rather than later” is ALWAYS good advice.
We strongly advise that you don’t leave it until the last minute. Making plans and getting going early is a good way to dispel any concerns and make a seamless transition.
Take the next step:
We have a number of FREE interactive MTD seminars where we will go through the changes that HMRC wish to implement and what is required from business owners. We will also show you the options available for moving onto digital software with plenty of proper Yorkshire terminology and no technical jargon!
Our FREE seminars are as follows:
Tuesday 27th February 2018 & Thursday 1st March 2018
1pm - 2pm (this can be run up to 3pm) - ideal if you're new to online accounting.
4pm - 5pm - ideal if you know your way around word / excel and online banking
To book onto one of our FREE sessions or for more information please CLICK HERE
If you are asking yourself:
“Why not me?
“Why not now?”
The answer is “no reason whatsoever”, so, talk to me and let’s change your business for the better.
Read the success stories.