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Making Tax Digital

Making Tax Digital (MTD) is a key part of the HM Revenue and Customs (HRMC) plans to simplify and transform the tax system. The MTD affects how businesses in the UK maintain their accounting and tax records. It was implemented on 1st April 2019, and applicable on business with turnover more than 85,000. These businesses are required to submit their VAT Return to HMRC by using Making Tax Digital compliance software. Also, Making Tax Digital will be extended to individuals and landlords from April 2020.

With the MTD reform changing the way all businesses report their financial details, we at TAXCA are here to assist them in the following way:

We can advise you on how to keep accounting and records digitally and file their VAT returns to HRMC through MTD software.

Our accounting team can help you know whether existing software is MTD compatible and train you to use the most appropriate online applications required.

We would be happy to assist you to move your business accounting records into a digital space. If easier, provide you with bookkeeping services and tax returns on your behalf.

We can even assist you in your claim for exemption for MTD, either due to a disability, religious grounds, the remoteness of the location, age, etc.

Benefits of Making Tax Digital (MTD)

MTD has major advantages over the conventional ways of bookkeeping. You can:

  • Generate estimates and deliver invoices from your mobile devices.
  • Look at a clear picture of your current financial position in real-time.
  • Make a quick estimation of your tax liability.
  • Get full control of your accounting records with a far more secure record-keeping system.
  • Cut down accounting mistakes with the help of recommended HMRC software for financial reporting.

Need Help With Accountancy and Taxation For Your Business??

At TAXCA Accountants LTD, we can help advance your business with our complete accounting and tax solutions. Just contact us today! Send us an email, or give us a call!

JUST DAIL 020-3369-7867