Making Tax Digital is Coming
In July, 2017 HMRC announced that all businesses and individuals will eventually have to file their accounting information digitally.
What does this mean?
By April, 2019 above VAT threshold (£85,000) businesses will need to keep their records digitally for VAT purposes.
It is likely smaller businesses will be required to keep digital records shortly after. This changes the way HMRC wants information from tax payers and means that you may need to move from your existing desktop or manual record keeping and onto an online accounting package.
The good news is we are certified in the installation and operation of Online Accounting software which is digitally compliant and specifically designed for small and medium sized business
What are the advantages of going digital
Digital accounting software has significant advantages over the traditional ways of bookkeeping.
Imagine if you could:
- See a clear picture of your current financial position, in real-time.
- Have your accounts 100% online, so there’s no software to install and everything is backed up automatically. Updates are free and instantly available.
- Avoid upfront accounting software costs – upgrades, maintenance, system administration costs and server failures are no longer an issue.
- Have your bank feed your data directly into your accounts on a DAILY basis.
- Take a photo on your phone of a purchase invoice and it was posted automatically.
- See your results, who owes you money, who you owe to and your business bank balance 24/7, 365 from your phone.
What does it cost?
We offer fixed price packages that include initial set up, training and license fees all rolled up into an easy monthly price depending on your specific needs:
See our price packages
How do we make the change?
As quickly as possible! All we need is a commitment to change and we will take you through a step by step process which means you will be up and running in no time AND we will:
Extract your existing data and upload this to your new digital accounting software;
Link your accounts to your bank account;
Enable Apps to your phone or tablet to let you work “on the go”; and Demonstrate the system and show you how to get the most from your accounts.