Introduction to Making Tax Digital - MTD
Making Tax Digital is one of the key government’s plans to making fundamental changes to the way the tax system works – transforming tax administration so that it is:
- More effective
- More efficient
- Easier for taxpayers to get their tax right
Making Tax Digital for VAT
HMRC’s Making Tax Digital for VAT meaning that businesses must change how they prepare and file VAT returns.
- From April 2019, businesses with turnover above VAT registration threshold of £85,000 will not be able to submit VAT returns from HMRC’s portal.
- Instead, businesses must digitally record their VAT transactions and returns using MTD compatible softwares such as Xero and Quickbooks.
- VAT returns must be submitted to HMRC through MTD software.
Businesses with a taxable turnover below the VAT threshold will not have to operate MTD, but can still choose to do so voluntarily.
How we can help you!
Having partnership with different MTD software providers, MJ Support & Co’s experienced accountants aim to make your accounting journey transparent and as seamless as possible. This is why we use the best MTD softwares to manage your legal, accountancy and tax requirements. We offer help with
Free trial – If you’d like a free trial with MTD softwares, get in touch and we’ll get you set up.
Free demo – If you’d like a demonstration of how MTD softwares could work for you, let us know when you’re free and we’ll arrange to show you demo.
Transfer to MTD software – If you are not currently using MTD compatible software and would like to transfer, we can assist in the transfer from your old accounting system.
MTD software training – We love training people on Xero. To find out more, contact us.
Real time accounting – It’s never been easier for your expert accountant to work with you in real-time to help your business grow and saving you taxes.
Why you choose us!
Free MTD Software – We offer free MTD software with all our packages, Please get in touch to learn more.
Tax Planning – To ensuring meeting all deadlines, we won’t leave it until after your Year End, when it is too late!
No Penalty Guarantee – We offer systemised accounting processes to enable our clients to meet with HMRC regulations.
Regular Compliance Checks – Offering regular compliance check to meet with the compliance requirements of small businesses.
No surprise bills – Call or email your Xero Accountant at any time and you won’t get billed for it.
We make your life easy – Life is beautiful, so when it comes to your accounts, we keep things simple and take away the hassle for you.