MTD and partial exemption
If your business makes Vatable and exempt sales, you will already be subject to partial exemption and should be preparing ...
Read articleWhat is bridging software?
Bridging software is software that can enable the submission of the VAT return to HM Revenue & Customs via the ...
Read articleWhat if your turnover is less than £85,000?
If you are not VAT registered and your turnover is under the current VAT threshold of £85,000 in any rolling ...
Read articleWhat bridging software platforms would you recommend?
As a firm we have a bridging software solution to offer to our clients via CCH OneClick (a Wolters Kluwer ...
Read articleWhy do some small businesses need bridging software?
For some small businesses the additional cost and complexity of using accountancy software, even user friendly and relatively inexpensive options ...
Read articleWhere do you go to sign up for MTD and when does it need to be done by?
For details of where to sign up for MTD please click here and for deadline dates please see ...
Read articleWhere can I find more information on MTD and what is needed to be done to comply?
HM Revenue & Customs publish regular notices on matters affecting individuals and businesses. VAT Notice 700/22 explains the rules for ...
Read articleWhat do Sage Business Cloud/Sage Accounting (online version) users need to do to be MTD ready?
In order to be compliant with MTD for VAT, Sage users will need to be on a current version of ...
Read articleWhat do Xero users need to do to be MTD ready?
If you are currently using Xero you will be pleased to know that it is already MTD compatible.
Read articleWhen is your first Making Tax Digital for VAT submission due?
The date and timing of your first MTD submission will be dependent upon your VAT period.
Read articleWhat is functional compatible software?
Functional compatible software is a software program, or a set of software programs, products or applications, that must be able ...
Read articleWhere can I find details of software that is compatible with MTD requirements?
The easiest way to find details of software that is MTD compatible or to check if your current software is ...
Read articleWhat do QuickBooks Online users need to do to be MTD ready?
If you are currently using QuickBooks Online then you will be pleased to know it is already MTD Compatible.
Read articleHow does MTD affect a VAT group?
HM Revenue & Customs has deferred for 6 months the adoption of MTD for VAT registered groups. There will be ...
Read articleWhat is Making Tax Digital?
Making Tax Digital (MTD) is part of HM Revenue & Customs (HMRC) wider digital strategy to make it easier for individuals, businesses and other organisations to ensure their tax affairs are in order.
Read articleWhen does Making Tax Digital come into effect?
April 2019 VAT registered businesses/organisations with a turnover over £85k. From the beginning of the first VAT period ...
Read articleWill it affect you or your business/organisation?
If you currently do a tax return or VAT returns then the simple answer is yes.
Read articleAre there any exclusions or exemptions?
The April 2019 date for MTD for VAT is only where turnover is above the VAT threshold.
Read articleWhat do you need to do to get to grips with Making Tax Digital?
MTD requires individuals, organisations and businesses to keep and maintain records in a digital form.
Read articleAccounting software options for Making Tax Digital
Clients use a wide range of different software, some very simple and some very complicated, for running significant multi-site operations.
Read articleSage 50 and Making Tax Digital
If you are a Sage 50 user working on version 23 or below, you are likely to be contacted by ...
Read articleWhat happens if you do nothing about Making Tax Digital?
The requirement to keep digital records and make quarterly submissions will be statutory and therefore cannot be ignored. Just as you have to make VAT submissions or file a tax return now, you will have to comply with these new requirements.
Read articleMaking Tax Digital and Landlords
Those with rental income will be required to comply with MTD requirements. For jointly owned property, each individual must make ...
Read articleMaking Tax Digital and Charities
VAT registered Charities must note that they will be required to adopt and comply with MTD. This means that, unless ...
Read articleMaking Tax Digital and free software
You may be tempted to find free software solutions to comply with Making Tax Digital and whilst these may exist, we would issue a word of caution.
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