You are here: Home » Business Services » Making Tax Digital

Making Tax Digital

VAT

HMRC’s vision to digitalise the UK tax system is now well underway. The process started in April 2019 with VAT registered businesses with turnover exceeding the VAT threshold (currently £85,000) being required, from this date, to use commercial software to maintain their VAT records and send their VAT information to HMRC.

MTD will be rolled out for other taxes and types of businesses shortly afterwards – so it is important to ensure your business is ready today.

Are you ready for Making Tax Digital? Watch our video:

What is MTD?

Making Tax Digital is HMRC’s plan to digitally overhaul the UK’s tax reporting system.

By 2020, the Government has decided that HMRC will be “one of the most digitally advanced tax administrations in the world” – which is why MTD is being rolled out as mandatory for VAT reporting from April 2019, with other taxes shortly to follow.

The transition will significantly change the way your business operates – as tax returns, payments and financial records will all need to be carried out online using HMRC-approved software packages.

Fortunately, Glazers Chartered Accountants are here to help ensure that your transition goes as smoothly as possible.

How can we help?

At Glazers, we believe that preparing for MTD in advance is the best step to a smooth transition.

Our team are helping clients to get to grips with cloud accounting for MTD, which enables them to start storing, managing and processing their accounting information online today.

For more informationcontact our Business Services partner Rita Wader on 020 8458 7427 or email rita.wader@glazers.co.uk

Keep up to date with all new HMRC announcements as they are released by following our Twitter feed or Facebook page.

Latest News

Latest News & Articles
What your business needs to know about VAT

Whether you’re a seasoned pro or a tax newbie, VAT can cause major headaches for business owners. From …

Accountants London