MTD – What is it? Are you prepared?

If you are not keeping electronic records for your business and your business turnover is above the VAT registration threshold of £85,000, you will need to come up with a plan as to how you will comply with the Making Tax Digital regulations which come into force from April 2019. From this date it will be mandatory to keep your records digitally for VAT purposes and provide your VAT return information to HMRC through MTD functional compatible software. Manual cashbooks and manual sales and purchases lists will no longer be acceptable.  If you would prefer us to come up with that plan for you and provide the software to do it free –please contact us today.