Here at Business Works we are ready for Making Tax Digital (MTD) for our clients with all our accountants now qualified as QuickBooks Making Tax Digital ProAdvisor’s.
MTD is for those businesses whose turnover is £85,000 or above, the current VAT threshold. Our earlier blog provides more detailed information http://bit.ly/BWMTD. MTD is to help reduce business tax administration errors as well as increase productivity for your company with less time spent on the former.
HMRC have sent out about 200,000 letter informing businesses of the new MTD service and how VAT records and submissions will be changing from April 2019. Have you received yours?
If your business has received a letter from HMRC, then you will need to comply with MTD. Therefore, you will need to keep your records digitally and submit the VAT data via a functional compatible software e.g. QuickBooks, Sage, Xero etc.
We would encourage all businesses to start using a bookkeeping software package as this will ensure that your records are up to date and therefore MTD compliant.
If you need further information about MTD or bookkeeping software, then please get in touch on 0113 2864486.
Our Services
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Payroll and Auto Enrolment
Employing people can cause stress for a business owner for many reasons and one of these is payroll. Our teams expect that they will be paid on time and with the correct level of deductions made. We can provide a full payroll service for your business including auto-enrolment, keeping you compliant with your many legal responsibilities.
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Tax Protection
With HMRC becoming more spontaneous with tax investigations we strongly suggest that every business is insured against the cost of investigation. So strongly in fact, that we automatically build it in to our fixed fee agreements. Many of our clients have been very grateful for this insurance when HMRC have come knocking.
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We'd love to hear from you
When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.