As a VAT- registered business over the £85,000 turnover threshold there are major changes coming from HMRC that will affect your business.
Making Tax Digital means that from April 2019 businesses will need to submit their VAT Returns through compatible software and keep digital records of their accounts.
We have previously advised you that we are looking into this and please trust that, behind the scenes, we continue to do so.
We always have our clients well being at the forefront of what we do and we want to find a solution for you that both meets the HMRC requirements and is economical and manageable for you.
HMRC are still testing MTD and how it will work in practice and most of the accounting software suppliers are still setting their prices for the upgrades required for their systems, therefore, there is still much to be confirmed before all options are available for businesses.
Every business is different in respect of software and book-keeping options and we don’t believe that there is one solution which fits all. We will be in touch with each of our clients individually explaining their options for MTD.
If you do have any questions in the meantime please do not hesitate to contact Julie McVicar, firstname.lastname@example.org or your usual Drummond Laurie contact.