Are You Ready For MTD?
There has been a lot of news and noise about Making Tax Digital (MTD). The purposes of this short blog is to remind you the key points about MTD, which becomes live on 01-Apr-19.
MTD is compulsory if you’re VAT registered and over the VAT threshold, currently £85,000. MTD is about how you submit your VAT return to HMRC, the VAT rules, VAT schemes and responsibilities stay the same.
We see MTD as not just another thing to keep on the right side of HMRC, not just another compliance exercise.
MTD is a great opportunity to improve how you manage, use and understand your business numbers. Online systems like Xero, our software of choice, helps you take charge of those numbers, and comply with MTD. You can better plan, manage and control your business, giving you more money, time and growth, which is what we all want
It’s not expensive to adapt and develop your current systems, and the benefits will pay back the investment.
If you fancy finding out more, then please check out our previous posts, the news section of our website or DM me – or all three.
Let us help you on the next stage of your business journey, we offer down to earth practical advice and are our clients reckon we’re not just boring bas***** accountants.
We look forward to hearing from you.
Pro Active Resolutions- Your Accounting Solution and Business Friend.