MakingTaxDigital

 

 

 

 

 

 

Making Tax Digital

 

 

You may have heard of Making Tax Digital (MTD), which is due to come into force from April 2019

What is it?

 

HMRC’s Making Tax Digital means businesses will need to keep their records digitally and file returns digitally. The first changes apply from April 2019.

 

Who’s effected?

From April 2019 businesses, who are VAT registered and above the taxable VAT threshold of £85k will be required to keep their records digitally and file VAT returns online.

MTD duties will start according to VAT filing schedule

Quarter ending MTD Duty start

 

Jan 2019 – March 2019 April 2019 – June 201

 

Feb 2019 – April 2019 May 2019 – July 2019

March 2019 – May 2019 June 2019 – August 2019

 

1st March – 31st march 2019 1st April 2019 – 30th April 2019

What will Sunflower Accounts do to help?

Sunflower Acounts is ready to meet the MTD era of accounting head on.

 

We will contact each of you individually to discuss your personal business position regarding MTD.

However, in short as a Xero partner, Xero Accounting package meets HMRC’s MTD requirements by storing accounting transactions digitally, with online filing and reporting facilities.

Its important to remember that MTD for VAT is not changing what you do, just how you do it.

 

If you are not using Xero or equivalent please contact us as a matter of urgency.

 

We will help guide you through MTD

 

 

 

 

 

MTD LINKS

 

Member of the Association of Chartered

Certified Accountants.

 

Copy Right Sunflower Accounts 2012

Registered in England & Wales

Company number 7894750

Sunflower Accounts Ltd

27 Poynder Place

Hilmarton

Calne

Wiltshire

SN11 8SQ

 

T: 01249 760215

M: +44(0)7735363033

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