New rules, which come into effect next year, mean that some businesses will need a digital accountancy package in order to make VAT returns to HM Revenue & Customs (HMRC), under a policy which is likely to be extended to other taxes in future years.
From April 2019, all VAT-registered businesses in the UK (with a turnover above £85,000) will need to switch to a digital tax system for submitting VAT returns using MTD compliant accounting software.
Now is the time for you and your clients to start implementing changes, to minimise the stress and hassle of adapting to the new system.
Even if your practice is not registered for VAT, you can still reap the benefits of digital accounting. There are many accounting packages available – sometimes also known as ‘cloud’ accounting – that can give you the ability to:
- Access key financial information in real-time at the same time as our team
- Automate processes such as generating invoices
- Easily store and collate receipts and business expenses
Making the move to digital accounting is straightforward but to help get businesses up and running effortlessly, we have organised a series of free workshops.
Our latest FREE event takes place on Thursday 31 May from 3pm to 6pm, at Eventus, Sunderland Road, Northfields Industrial Estate, Market Deeping, Peterborough.
Complimentary tea, coffee and refreshments will also be provided.
If you or your clients would like to find out more about Making Tax Digital and how cloud accounting will ensure you are up to speed, ahead of the impending rule changes, please reserve your place now by contacting Louise Bacon at email@example.com or 01775 711 333.