Making Tax Digital

December 9, 2017

There has been much speculation about the introduction of Making Tax Digital and the initial suggestion that tax returns would become a requirement quarterly.  This has largely been put on hold for now, unless you are VAT registered.

 

All VAT registered businesses will be required to keep their records electronically and make submissions inline with Making Tax Digital for their VAT transactions from April 2019.

 

Take the next twelve months to review your record keeping and see where you can easily make changes to make the transition easier. You will need to bear in mind that many older desktop versions of software are unlikely to be updated to be compatible. It is also expected that maintaining records in excel will not be possible.

 

Please get in touch if you wish to discuss your options.

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