What is MTD?
HMRC are moving into the digital age and over the next few years everything to do with your business and personal taxes will be submitted, stored and accessed digitally online.
How does MTD affect my business?
Overall its a good thing, you'll be able to login to HMRC and have an up-to-date, real time picture of the taxes you and your business owe.
Initially, HMRC are focusing on companies that are VAT Registered and above the VAT Threshold. These companies will need to have systems in place by April 1st 2019. Corporation Tax and Personal Tax will follow in 2020
How do I get ready for April 2019
From April 2019 you will need to make sure you are using online accounting software that is capable of digitally storing all of the information related to each of your VAT returns going forward.
You will need able to submit the VAT returns digitally through software approved by HMRC.
Contact us for your free MTD
We’ll go through a simple process to see how you are currently set up. If you’re compliant, awesome, if not, we’ll let you know what you need to do to make sure you have systems in place for the future.