After months or even years of planning Making Tax Digital for VAT has come into effect for those businesses with a turnover over £83000.
This means that all VAT returns will need to be submitted via software such as Quickbooks, Xero or Freeagent
to ensure a digital flow of information to HMRC.
Businesses who maintain their records on spreadsheets can continue to use these but will need to invest in bridging software to enable the VAT return to be MTD compliant.
The first businesses having to submit their VAT returns via MTD is those whose VAT quarter runs April,May and June , so hopefully with their software already in place they will just need to register on HMRC for Making Tax Digital and link the software by following the providers on line instructions.Subsequent quarters will follow, therefore systems will need to be in place.
Agents can register clients on their behalf.We are a registered HMRC agent and can assist with any part of ensuring your business is MTD compliant.We can advise on the best software to choose for your business and and provide training or offer a complete bookkeeping and VAT service.
Please call Caroline on 07982682746 to arrange a free initial meeting.