Digital Tax is Coming – Be Prepared for the Change!
The whole tax system is changing.
Her Majesty’s Revenue and Customs (HMRC) has confirmed plans to transform the tax system as part of their Making Tax Digital(MTD) initiative, which will be implemented in April 2019. This means no more manual records, books or spreadsheets!
If you are a VAT registered business above the threshold of £85k, it is mandatory that you switch to keeping digital records by 1st April 2019. After this date you will NOT be able to file your VAT returns using the HMRC online portal. If you are not a VAT registered business, then you will have to switch to keeping digital records and the filing of your company’s tax affairs by 1st April 2020.
The MTD initiative modernises the current tax system making it more effective and efficient for clients to use. We are pleased to announce that BBK are on board with MTD and we will be helping all our clients move to the following cloud software.
We have a 24 hour specialist team who will provide the support to clients and help them to adopt to the changes before the deadline.
Our dedicated email address mtd@bbkca.com will deal with all queries regarding MTD to ensure a smooth transition!
