Making Tax Digital
After much delay, Making Tax Digital (MTD) is now a reality.
The first deadline is 5 April 2019 for VAT registered businesses with a turnover exceeding the VAT threshold £85,000.
From 5 April 2019 qualifying businesses must submit income and expenses in a digital format on a quarterly basis.
If you use spreadsheets to keep business records, you’ll need MTD-compatible software so that you can send HMRC your quarterly VAT return and receive information back from HMRC. Bridging software may be required to make spreadsheets MTD compatible. Why not take the opportunity to upgrade to the MTD cloud software and enable great flexibility of your business information. We can help you through this process and even train you on your new software.
This would include making your VAT preparation and submission quicker and more efficient, timely debt management to assist with cashflow to name but a few.
Contact Neale Management Services and discuss the best solution for you and your business.