Making Tax Digital
An Overview
Making Tax Digital (MTD) is a new initiative by HMRC to improve the efficiency and effectiveness of tax administration.
With over £9 Billion lost in avoidable mistakes, the idea is that with digital records, and information being sent to HMRC from these digital records, the tax gap will be reduced.
What does this mean for you?
MTD is happening in stages, and currently, all VAT registered businesses above the VAT threshold of £85,000 are required to be MTD compliant by April 2019. Any business that falls into this category, that currently keep manual records will need to switch to a MTD compliant digital book keeping software in time for their first VAT submission after April.
VAT returns will then be filed directly through the digital records within the software. Submissions will no longer be able to be made through typing figures into HMRC’s website.
Are you ready?
Here at Nigel B Butler Limited, we can help you and your business to become compliant. We can guide you along each step of the way through the daunting minefield that is MTD.
We are Sage Gold registered partners, and with this we are able to offer our clients licences at a discounted cost compared to going direct.
With a cloud based solution, access can be made anywhere with an internet connection, allowing the type of flexible business operation that is so important today.
The Sage Business Cloud software licences through us are available at a discount to the normal pricing as follows:
- Sage One Start – £5 + VAT per month (normal price £6 + VAT)
- Sage One Accounting – £15 + VAT per month (normal price £20 + VAT)
Come and have a chat with us, and see how we can help you.
