It’s time to decide how you will digitalise your records in order to meet HMRC requirements ahead of April 2019
HMRC wants the UK to be one of the most digitally advanced tax administrations
in the world, improving efficiency, effectiveness and ease of compliance. Their plans
signal the end of paper accounting for millions across Britain making it easier for
businesses to stay on top of their day-to-day accounts.
From April 2019, businesses with turnovers exceeding the VAT threshold will have
to set up a digital tax account and file quarterly returns on-line via record keeping
software as near to real time as possible
It is imperative that all businesses, whether incorporated or not, are aware of the date that their obligations within MTD start so that they can prepare for the changes ahead.
Please contact your local office for further information if you require further advice on this matter.