Making Tax Digital with KC Accountants. The government has announced the new timetable for Making Tax Digital. The main points are that only businesses with turnover over the VAT threshold (currently £85,000) will have to keep their records digitally, and then only for VAT. This will apply from April 2019.
In addition to this, businesses will not be asked to keep digital records, or to update HMRC quarterly, for other taxes until at least 2020.
Here at KC Accountants we are still encouraging VAT registered clients to digitalise their records from the start of their next accounting period. Not only will this ensure that you are prepared for the changes when they come into affect but the feedback from our clients, who have already moved over, is that it has greatly assisted towards the growing of their business.
KC Accountants, owned by Katie Cosgrove who is a Chartered Accountant and Chartered Tax Advisor with over 10 years’ experience, based in Formby near Southport and Liverpool.
To discuss further please contact us.