It’s time to decide how you will digitalise your records in order to meet HMRC requirements ahead of April 2019 HMRC wants the UK to be one of the most digitally advanced tax administrations in the world, improving efficiency, effectiveness and ease of compliance. Their plans signal the end of paper accounting for millions across…
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As we head towards the end of summer and we start to prepare the children to go back to school, life starts to get back to normal. If you run your own business you may want to use this time to start planning ahead for the changes in the way you file your paperwork with…
As of 18 July 2018, HMRC has issued a list of software suppliers supporting Making Tax Digital for VAT. Amongst the list is Farmplan, the only agricultural software supplier. Farmplan has met the criteria HMRC have stipulated for Beta testing. It shows that Farmplan is committed to providing software that is compatible for MTD for…
You, like many businesses have been successfully running for years, maintaining your books and records and submitting correct VAT returns, in turn ticking all the necessary boxes and satisfying HMRC. However, the introduction of MTD will mean a ‘shake up’ to your current methods and may require you to adopt software for the first time.…
All VAT registered businesses with a turnover over the current VAT registration threshold of £85,000 will be required to comply with the Making Tax Digital (MTD) record keeping and reporting requirements for VAT periods which start on and after 1st April 2019. Where a business is VAT registered but has turnover under £85,000 at April…
Thursday evening saw the last in our successful series of MTD seminars, held at Memorial Hall in Newmarket, where we had another great turnout. We explained to our clients and guests the implication of MTD that launches for VAT registered businesses over the VAT threshold starting in April 2019 and how those changes would directly…
iZettle was founded in Stockholm in 2010 and have attempted to revolutionise mobile payments with the first mini chip card reader and software for mobile devices. Their commerce platform for small businesses in Europe and Latin America provides tools to get paid, sell smarter and grow your business. Some of the huge benefits are: Automatically…
The latest of our series of MTD seminars was held at the March office last night. This was well attended and gave clients an overview of MTD and what it means for them. The presentation was followed by a Xero demonstration, which highlighted the benefits of moving to a cloud based package over and above…
HMRC have recently issued further information regarding MTD , stating prioritising EU exit work is delaying plans to introduce further digital services for individuals. This however ONLY affects simple assessment and real time tax code changes, HMRC are still striving to encourage further uptake of personal tax accounts. Simple assessment was intended to take two…
Friday evening saw the next in our series of MTD seminars, held at our Bury St. Edmunds office, where we had a full turnout. We explained to clients the implication of MTD that launches for VAT registered business over the VAT threshold starting in April 2019 and how the changes would directly affect them, as…
