MAKING TAX DIGITAL - Are you READY?
Updated: Dec 20, 2018
Are you ready for Making Tax Digital....? (MTD)
From April 2019 ALL VAT registered businesses and organisations with taxable turnover above the VAT threshold of £85,000 will be required to:
Maintain their accounting records digitally in a software product or spreadsheet. Maintaining paper records will cease to meet the legal requirements in tax legislation.
Submit their VAT returns to HMRC using a functional compatible software product that can access HMRC’s API (Application Program Interfaces) platform.
At Genio we can help you become compliant by giving you a FREE license for Xero when you sign up to any of our monthly plans (Thats a saving of £316 a year).
If you want to find out more visit https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital or alternatively, pop in and have a chat with us.
Genio Accountants - Keeping you compliant and fine free.
Phone: 023 8212 3336
Address: 33a Portsmouth Road, Woolston, Southampton, SO19 9PE