Knight & Company are holding a FREE cloud bookkeeping event on 27 March 2018……. Interested?
Making Tax Digital (MTD) is a staged requirement from HMRC, which will require all businesses (self-employed and companies) to keep digital records and submit their taxes through the digital platforms.
The first stage is 2019/20 so if you’re a business (self-employed or business) and you are over the VAT threshold, then you will need to keep your records and submit your VAT returns though the digital system. HMRC’s portal currently used to submit VAT returns will no longer be able to be used.
The next stage is 2020/21 and that is for all other taxes (income tax and corporation tax). So by this time, VAT, income tax and corporation tax will all have to be recorded and submit quarterly information digitally.
With this in mind, we are aiming to get clients onto compatible software in 2018/19 to give everyone enough time to get used to the systems and work out best practices.
We have partnered up with Kashflow’s cloud bookkeeping system, which is compatible with all the requirements of MTD.
So that you know what the system is like and whether it will work for you, we are holding an event on 27 March 2018 at 10am at the Holiday Inn in Maidenhead.
There will be a presentation on how the system works and how it will assist you with the MTD requirements, so please come along if you want to know what the system is like or have any questions for us or Kashflow.
Please can you let me know if you are able to attend by Wednesday 21 March.
If you have any questions in the mean time, please don’t hesitate to email me at lydiav@knightandcompany.co.uk or call me on 01628 631056.
Kind regards,
Lydia