Making Tax Digital
From 1 April 2019 the way in which you submit your VAT return and retain your records is changing significantly. In tandem with this are changes to the penalty regime for late submission and it is therefore important that businesses are ready for this transformation.
Our Making Tax Digital team consists of VAT specialists and cloud accounting specialists to ensure that your business is compliant with the new requirements but also to help you introduce efficiencies into your processes.
If you would like to understand how the changes will impact your business please contact the team who will be happy to discuss the new legislation with you.
We understand that this is a considerable change for businesses and our Making Tax Digital readiness review will help businesses understand what will be required to remain compliant and avoid penalties. The review will consist of:
- A walkthrough of your current VAT return process from transaction entry to VAT return submission
- Identifying the areas of the process that do not meet the new requirements
- Working with you to discuss the options available to you to make your process compliant with Making Tax Digital
- Support with implementation of the required process or systems changes.
If you are comfortable with your record keeping and VAT processes and you are only missing the ability to submit your returns via compatible software, we have bridging software available that can submit VAT returns to HMRC on your behalf.
For more information about Making Tax Digital click here. If you would like to discuss Making Tax Digital in more detail or enquire about a readiness review please contact our Making Tax Digital team.