REGISTERING FOR MAKING TAX DIGITAL

Published 4 July 2019

Making Tax Digital is here and will require that businesses registered for VAT maintain and file their VAT returns digitally using one of HMRC's approved solutions.

HMRC have identified a list of software which is MTD compliant and all VAT returns, with a return period beginning after 1 April 2019, will need to be filed using 1 of these pieces of software.

MTD should be embraced by business owners as we move towards the future of tax reporting with HMRC. Your entire bookkeeping process can become more streamlined and easier when you make the move to cloud accounting.

Access to real time information, less data entry and better collaboration amongst your team are all things that will make your business run more efficiently. You will be able to see just how your business is performing at the click of a button, saving you both time and money through increased efficiency.

You can be subject to penalties from HMRC if you fall within MTD and don't file your returns using their recommended software solutions.

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WATCH OUR VIDEO TO FIND OUT HOW TO REGISTER YOUR BUSINESS FOR MAKING TAX DIGITAL:
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How to register with HMRC for Making Tax Digital (MtDfV) from Mayes Accountants on Vimeo.

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​Get in touch on 01254 300 050 to see how our cloud accounting experts can help you with the transition to cloud accounting. We can even offer guidance and training in our recommended solutions.