The government has plans to make it easier for individuals and businesses to get their taxes correct and keep on top of their affairs. They want to achieve this with the introduction of “Making Tax Digital”. As the wording hints, the future is digital record keeping and reporting.
From 1st April 2019, all VAT registered business with a turnover above the compulsory registration threshold (currently £85,000) will be required to file VAT returns using an HMRC compliant solution…. and we have you covered. Sole traders and property landlords, I’m afraid you are not off the hook. From 1st April 2020, you will also be required to report to HMRC – on a quarterly basis – your income and expenditure details. Not only will this be compulsory, we also view it as a perfect opportunity to grab hold of your finances and take control of your record keeping. This will save time and ultimately money – after all, our accountancy fees are based on time – so neat and tidy cloud based records equates to a cheaper bill!
Unsure about the impact on you? Then contact us now to talk more.
We are conversant with all the big name cloud-based software providers and are happy to work with whatever solution you feel most comfortable with. If you would like us to manage the whole process for you then we are pleased to offer a “pay monthly” service using our software provider partners. Packages start from a little as £25 plus VAT a month and we are happy to provide a bespoke service that’s tailored to your needs. Take a look at this video to see how easy the software is to use.
Phone: +44 (0) 1692 763030 Email: accounts@azothsolutions.co.uk
5B Folgate Rd, North Walsham,
Norfolk, NR28 0AJ
Monday – Friday 9.00am To 5.00pm
Weekends – Closed
5B Folgate Rd, North Walsham, Norfolk, NR28 0AJ