Making Tax Digital (MTD) - What's it all about?
If you run a VAT registered business or are close to the £85,000 turnover threshold the rules for submitting your VAT returns to HMRC are changing on 1st April 2019.
From that date you will be required to make electronic submissions generated by a compatible software. The full article from HMRC can be read here on what the changes mean.
Here at Athena Business Services we are ready to assist our existing clients with the changes. Our favourite software Xero has been involved with HMRC with it's BETA testing and is ready to go.
We have recently completed the certifications necessary from Xero to put our practice as "MTD Ready". So we're ready to go too!
If you're an existing client you're in safe hands as we will take care of the changes as they happen with very little to no disruption to normal service.
What do you need to do to be MTD ready by 1st April?
If you are not already using an HMRC compatible software you need to think about switching over asap. See list of softwares here.
We recommend www.xero.com as our preferred choice.
If you would like to discuss any of the above please let us know and we'll kindly help.
Happy New Business Year to you all.