How much do you know about Making Tax Digital (“MTD”)?
From April 2019, VAT registered businesses with turnover in excess of £85,000 will have a requirement to file VAT returns through compatible software (cloud accounting);
- Government Gateway will close from April 2019 – no more manual submissions;
- All VAT records must be “digital” – no more manual books;
- Other taxes (corporate & personal) will follow suit over the next few years;
- Tax payers will be able to see a comprehensive financial picture in one single tax account from 2020.
Are you aware of the changes, but are just not clear on what to do?
Let us ensure you comply with HMRC’s new requirements in time and help revolutionise your accounting information through Cloud Accounting.
Over the last 12 – 18 months we have been helping our clients understand and migrate to a suitable platform, ensuring that they are fully compliant, well in advance of the effective date (April 2019), while at the same time helping them take advantage of all the benefits Cloud Accounting has to offer.
So what are the benefits of Cloud Accounting?
- Real time access to data, allowing you to see your accounts, anywhere, at anytime, from any internet enabled device;
- Improved useful financial information, allowing you to make more efficient business decisions;
- Manage your accounts ‘on the go’;
- Paperless accounts;
- Easy access from any internet enabled device;
- Automatic upgrade;
- Saving time;
- Security – multi-factor authentication (two-step);
- Choose from hundreds of “add-on” applications, allowing you to customise to improve the efficiency and the way you manage your processes;
- Subscription based: small monthly fee, with no outright purchase.
How we will support you.
- We will review the needs of the business and recommend the best cloud package;
- Help you with, or provide full set up support, in your move to Cloud Accounting and MTD Compliance;
- Provide training, whether this be ad-hoc, or through one of our ”post migration” training support packages – all our training support and packages are tailored to you;
- We will review a number of available add-on applications and recommend those that we feel will benefit your business; from data processing, to overall management of your accounting systems and information.
You really need to be acting now!
There are now only 7 months left until MTD becomes compulsory. To help support you in the transition to what we are calling “the Digital Revolution”, we have designed a specific seminar, which is being held at our offices, that will give you the opportunity to understand the changes ahead, the meaning and requirements of MTD, and the ways you can meet HMRC reporting obligations.
In this seminar we will show you several “live” demonstrations of the software platforms, the add-on applications available to you to revolutionise your accounting processes and let you have the opportunity to speak with our Cloud Accounting Specialists.
We will be holding one seminar per month between now and April 2019. Should you be interested in attending one of these, or would like a “free” initial discussion about your available options, please do contact one of our Cloud Accounting Specialists on 0191 281 1292.
Cloud Accounting event calendar:
27 September 2018
25 October 2018
29 November 2018
24 January 2019
21 February 2019
28 March 2019
Time: 5.00pm for 5.30pm start
Location: RG Offices, Jesmond