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.
Xero online accounting software is perfectly positioned to help your business get up and running before the deadline when VAT goes digital on 1 April 2019.
Let’s get you started… If you already use Xero to submit VAT returns, Xero will be upgraded automatically so that you can easily submit your MTD VAT return to HMRC with no additional cost. If you’re looking to move to accounting software, we’re here to help you make the transition run as smoothly as possible. This is your opportunity to streamline your accounting and business management, as well as getting MTD compliant. So start thinking about secure accounting software that can:
- Calculate the tax you owe (including VAT and payroll tax)
- Pull transaction data straight from your bank, invoicing software, or POS system
- Update bank transactions every day, allowing you to stay on top of bank reconciliation
- Let you create digital records of paper receipts by capturing them on your mobile phone. Xero can do all of the above, plus more.
We’re MTD ready. Speak to us. If you’re not already using Xero online accounting, speak to us about getting set up. They’ll be able to help you make sure you’re compliant for Making Tax Digital when it takes effect on 1 April 2019. It’ll be here before you know it.
If you’ve got more questions, please don’t hesitate to get touch. Contact us at firstname.lastname@example.org or call on 01858 289 189.
For more MTD information, tools and resources, visit the our Making Tax Digital Page.
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