We are now less than a month away from the Making Tax Digital crossover, HMRC has stated that there are still 1.17 million UK businesses which have not yet signed up to the initiative. Which such limited time left to do so, HMRC is now requesting that the remaining businesses do so as soon as possible.
MTD is set to come in place from 1 April 2019 for businesses which have a taxable turnover above the VAT threshold of £85,000. The crossover will see businesses keeping many records digitally, as well as submitting VAT returns via an Application Programming Interface (API).
This change in processes is said to allow businesses more control over their finances, whilst allowing them more time to spend on innovation, growth and the creation of jobs. With a reported 2,000 businesses signing up each day, it is important that your business is ready for the crossover before the set date. To allow for troubleshooting and for staff to familiarise themselves with the new software.
We can help to streamline this process for you and even take over the whole changeover. Keeping your digital records in order, allowing you to continue completing the required business actions.