Making Tax Digital (MTD)

Much of our work over the last year or so has been helping small businesses adopt accounts packages such as Xero or Quickbooks so they could comply with digital VAT returns (MTD Phase One or MTD for VAT).  HMRC have announced that “self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for MTD for Income Tax from their next accounting period starting on or after 6 April 2023”. Phase 2 is happening soon and it will become increasingly important to keep digital records with compatible software.

It is not too late to find suitable accounts software for your business so you can be ready for the next phase.  Xero and Quickbooks both offer subscriptions for all sizes of businesses.  As Xero Partners and Quickbooks ProAdvisors we can help you choose a suitable subscription and get you set up and running.  Contact us to get an idea of options and price with a free telephone consultation.