Making Tax Digital
Swan Accountancy Solutions can help you and your business adapt to the demands of the digital age.
One example of this is Making Tax Digital (MTD), a Government initiative to modernise HMRC’s tax system.
From April 2019 onwards, any business with turnover above the current VAT threshold of £85,000 will have to keep digital records for VAT purposes, and to submit VAT returns using digital software.
It is expected that most other businesses will have to comply with these rules from 2020.
The idea is to make the process of administering tax simpler and more efficient – and it is vital that your business starts to plan ahead.
Using cloud accounting software will ensure your business is compliant with the requirements of MTD.
We can help you to migrate to the cloud and provide training and support.
The benefits of using cloud accounting software include:
- Up-to-date information about your business finances in real time
- Time saving – there is far less manual data entry
- Access your accounts from any device and on the go
- Data is automatically backed up in the cloud
To find out more about MTD and migrating to cloud accounting software, contact us today for a free consultation.