Making Tax Digital – Time to run your business differently?

20th April 2018

 

So you have been successfully running your business for a number of years and now HMRC have introduced a making tax digital initiative which is going to change how you do things for the future.

 

You are now expected to start keeping digital records of your accounts, so what is the next step for you and how can we help? The good news is you still have 12 months to get this sorted and Whiting & Partners are happy to help you through as much of the process as you need us to!

 

The next steps are simple, take advantage of some events and offers we have:

 

  • Free making tax digital seminars – we will be holding free seminars to all our clients starting now and moving through the next month across many of our office locations. Here you will find all the information on MTD and you can ask any queries you may have about implementing systems or general information.

 

  • Set up one of our free 1 hour MTD health checks – call your local office and arrange a free consultation with a specialised MTD consultant who will talk you through the next steps and guide you on which software to use and how/when to implement these into your business.

 

  • Training & Set up – Once you have chosen which cloud package you wish to use, we can then provide you with assistance with set up or complete all the set up on your behalf. Then we can train you and your staff the best ways to use whichever system you have decided.

 

Once we have given you all the facts about the MTD and what is expected of you then you may decide to outsource your bookkeeping in the future. Again this is definitely a conversation to have with your consultant, you may be surprised how little extra it will cost you to let us do all of the work for you. Giving you all the time to focus on running your business and making it grow.



 
Other items in Blogs
 
Lucy Bayliss
8th January 2020 It’s the final countdown!

There are only 23 days until the self-assessment tax return deadline of 31 January 2020. If your return is not filed electronically by this date, an automatic £100 penalty will be applied. Please note that the deadline for filing a paper tax return was 31 October 2019 and therefore all returns are required to be…

Read More »

Vanessa Pearson
13th December 2019 April 2020 Proposed IR35 changes: Status appeals process

As the planned changes to who determines IR35 status are fast approaching, contractors would be well advised to review their contracts on HMRC’s updated CEST (Check Employment Status for Tax) tool. Having provided answers to questions regarding substitution, control and nature of the work, the updated tool will give HMRC’s view of the workers employment…

Read More »

Ben Kilby
12th December 2019 VAT Surcharge

Have you or your business received one between 23 April 2018 and 31 January 2019?   If so, you may want to check if it has been dated. If it has not been dated you may be in for a refund. Any surcharge liability notice or surcharge liability notice extensions are invalid if they have…

Read More »

Lucy Bayliss
25th November 2019 Don’t let your tax bill affect your festive joy. Instead, spread your tax payments throughout the year!

With the festive period fast approaching, it is easy to lose sight of your self-assessment tax return!   If you are employed or receiving a pension and you file your return before 30 December 2019, you can elect to have your tax collected through ‘Pay As You Earn’ (PAYE) rather than paying one lump sum…

Read More »

Ian Piper
22nd November 2019 2019 Growth: Missing in action?

(Data Source) As another year draws to a close, local SME businesses will be forgiven for looking forward to drawing a line under it. With 2019 sales growth barely nudging 1%, it has been a year of focusing on not slipping backwards, rather than the usual mantra of continually signing up new accounts.  When commentators…

Read More »

Mark Burrows
21st November 2019 Avoiding Self Assessment Tax Scams

HM Revenue & Customs have reminded Self Assessment taxpayers to watch out for fraudsters as the tax return filing deadline of 31 January approaches.   HMRC say they have received nearly 900,000 reports of suspicious phone calls, texts or e-mails from scammers pretending to be the tax authority.  Most of these messages were about fake…

Read More »