Are You MTD Ready?
Published Date: 1st May 2019
Are You MTD Ready?
The Making Tax Digital (MTD) initiative is already in force for VAT-registered businesses with a taxable turnover above the current VAT threshold of £85,000. For VAT periods that started on or after the 1 April 2019, these businesses are now legally required to keep records digitally and use software to submit their VAT returns. There were a number of companies who will have been exempt from this with a later start date of the 1 October 2019.
Making Tax Digital will not be mandated for taxes other than VAT until at least April 2020.
JT AccountS were prepared for this digital change in advance and we have all the automated systems in place to ensure that you can be fully compliant. If you are not yet prepared for MTD our practice will put you on to the right software system to suit your needs. If you still happen to be manually recording receipts at your end we are happy to help you transition to a digital system to best suit you. We work with market leading software to ensure that this is an easy and pain-free process.
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