What is ‘Making Tax Digital’?
Making Tax Digital is a UK government initiative. MTD is part of HMRC’s plans to modernise the tax system and make it easier for individuals and businesses to get their tax right and stay on top of it.
Since the introduction of Making Tax Digital for VAT, many VAT-registered businesses who are above the VAT threshold are now required to use a digital accounting service, such as Xero or Quickbooks, to keep their records digitally and submit their VAT returns.
Embracing a cloud-based accounting system can be a daunting process at first, but that’s where we can help. Our team of cloud accountants can help integrate a cloud accounting system into your business, guiding you through the process.
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