Making Tax Digital (MTD) was introduced by the government to make it easier for individuals and businesses to get their tax right and keep on top of their financial affairs. The first stage of MTD has focused on VAT, with new requirements imposed on some VAT registered businesses and organisations from April 2019. MTD for income tax will not be mandated until 2021 at the earliest.
In line with the government’s MTD requirements, we can help you choose, install and operate the right cloud accounting and digital systems, such as Dext (the new name for Receipt Bank), Sage and Xero. In particular, the benefits of digital accounting systems to small and medium-sized enterprises include more streamlined record-keeping; the ability to view your financial information in simplistic terms and more efficient payment processes.