Contact us today:
01949 876048
Contact us today:
01949 876048
PROFESSIONAL ACCOUTING
MAKING TAX DIGITAL .
HMRC are pressing forward with their plans for MTD
The overall objective is to ensure that all businesses and rental operations maintain their accounting records on an approved digital basis (computer records) and for their accounts to be filed with HMRC on a quarterly basis.
When is it starting?
All businesses or rental operations with a turnover in excess of £85,000 (VAT registration limit) must use the new system of reporting for any VAT reporting period ending after 01/04/2019.
For most this means the quarter ending 31/03/2019 will be the last quarter to be operated under the current rules. After the 31/03/2019 the current reporting system will not be enabled.
It seems that HMRC would prefer to bring all other businesses and rental operations into the new system with effect from 01/04/2020. However the accountancy and small business organisations are still making representations and objections on the basis of an unfair cost effect and administrative burden on both businesses and rental operations.
Please treat the above as advisory but with no legal or statutory content or advice.
We offer a broad spectrum of tax, accounting and consultation services. Our clientele ranges from private individuals and sole proprietors to partnerships and corporate entities across all sectors.
We take into account all current tax and business factors and our services covers the entire scope of services in the field of tax consulting.
Our services include:
Accounting is an essential element of any business giving you a meaningful foundation for your business decision processes. Also with the ever closer implentation of MDT it will become more and more important to have up to date accounting records.
Our services include:
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