Maxing Tax Digital and Xero
Making Tax Digital (MTD) came into effect for the purposes of VAT from 1 April 2019 and impacts on all VAT registered businesses with a taxable turnover above £85k, so all those that are not voluntarily registered for VAT.
From this date it is your responsibility to make sure you are submitting your VAT returns through a MTD compliant software for your first return starting on or after 1 April 2019.
If you are currently using a software program, you must check with your provider to ensure that their product is MTD compliant. You may be required to upgrade your current version.
If a potentially expensive upgrade is required, then now might be a good time to consider whether your current system meets your requirements or whether you should look at alternative options.
If you are not currently using a software system, you may need to rethink your bookkeeping systems.
At HSKSG we can support you, regardless of the software you use.
However, we are proud to have teamed up with Xero, with whom we have Platinum Partner status to offer a cloud-based solution to MTD.
Xero is not simply an accounting software. It is a platform that will enable you to run your business efficiently and with greater visibility.
HSKSG are Xero platinum partners and our team who work on Xero have all completed the qualification known as the Advisor Certification.
There are many advantages to using Xero, including:
- Automatic bank feeds which can import information daily.
- Unlimited access by members of your team at no extra cost.
- Access from any desktop computer or phone/tablet.
- An easy-to-use online invoicing feature which makes it simpler for your customers to pay you faster.
- Real time contextual data, accessible from anywhere, providing you with an accurate, up-to-date picture of your business.
We can help you set up the software and provide full training if required.
If it sounds like Xero might be suitable for your business, please contact a member of our team to find out more.
So that’s us. What about you?
Drop us a line to discuss all things business, from your aims and ambitions to improvements you’d like to make in the short-term. We are here to help, so contact us to make a no-obligation appointment.