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Making Tax Digital (MTD) is already well underway. HM Revenue & Customs has made it clear that all tax systems in future will need to be digital and many UK firms have already started to adopt online accounting systems in advance.
HMRC consultations into what the project involves, how it will affect tax payers and when it will be implemented, have left individuals and businesses increasingly and understandably confused.
However, one thing remains very clear: British businesses and individuals alike will need to ensure that they are compliant. We believe they should consider doing so sooner rather than later.
That is why we at CP Waites are committed to ensuring that all our clients become digitally compliant before MTD comes into force.
Since HMRC published the outcomes of the first consultations on MTD, further information has now been published. Crucially, this includes the proposed timetable for the introduction of MTD.
The above proposed timetable may well be subject to further reforms and we shall keep you informed accordingly.
The easiest way to ensure that you are compliant and avoid any future problems is to take advantage of our online accounting service today.
At CP Waites, we want to ensure that our clients’ adoption of MTD is as fast, easy and hassle-free as possible, which is why we encourage our clients to take advantage of a cloud accounting software as soon as possible.
By heading over to CLIENT PORTAL you will find in more detail the online services available to you and how they will benefit you.
MTD will involve significant changes for all businesses but especially for businesses which do not currently use any form of software. Our MTD compliance service can help you prepare now.