MTD – Making Tax Digital
MTD is the biggest development in taxation for over 30 years.
HMD Management Services have future-proofed our accounting software packages by moving to an award winning online accounting software package. KashFlow enables accountants and clients to easily access their own financial records at any time, whenever they have access to the internet.
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- From 1st April 2019 every VAT registered business with a turnover of over £85,000 must keep their records and submit quarterly returns in a digital format. This means no more manual accounting records.
- The first return you need to submit in the new format is your first return that STARTS after 31st March 2019. By the time that return is due for submission, you must also register with HMRC for Making Tax Digital. This must be done online on the HMRC website.
Contact me on 07595 881871 for help in keeping your business legal
“We wanted to find a product that was easy to use for our clients that haven’t had any accountancy training, but still enabled us as their accountants to extract the information we need to provide a quality service. We’ve found exactly that in KashFlow. The fact that we can access data live over the internet means we can be more pro-active in advising our clients.”
All the records held on the system are stored behind a state of the art encryption system that prevents data from being accessed or passed on without the user’s permission.
THE BENEFITS TO YOU
- Keep records in a digital format as required by the new regulations
- Create a VAT return from the digital records in MTD compatible software and provide HMRC with this information digitally
- Provide HMRC with VAT data on a voluntary basis
- Receive information from HMRC via the API platform in relation to your business’s compliance with obligations under the new regulations