Making Tax Digital (MTD) is an HMRC initiative that requires VAT-registered businesses above the £85k threshold to keep digital records and submit VAT returns using compatible software such as Xero. If that’s your business, you’ll need to be compliant from 1 April 2019.
The sun has disappeared and we will soon be enjoying some autumnal fun; but that’s not the only change we’ve seen this September at The Business Hut. We’re feeling the excitement in the office as our team has expanded by two! Each bringing tons of enthusiasm and laughter- and they’re looking forward to getting to know both new and existing clients!
The Making Tax Digital (MTD) for VAT deadline is drawing closer. It’s less than a year until UK businesses that are VAT registered and above the threshold will be required to keep their records digitally, and submit VAT returns to HMRC using MTD-compatible software.
Unless you’ve been living under a rock for the last couple of months, you’ll have no doubt heard about GDPR and the new legislation that comes into force on 25th May 2018.
We’ve recently heard from several of our clients telling us that they’ve received calls and emails from scammers pretending to be HMRC. Thankfully, our clients get straight in touch with us to check the authenticity of this communication and we’ve been able to advise them. However, for many small businesses cyber security simply isn’t a priority and it’s a big misconception that hackers only target larger businesses.