Making Tax Digital
Choosing the Right Software
By April 2019, businesses above the VAT threshold of £85,000 will be required to keep digital records for tax purposes and file tax returns quarterly, under the HMRC’s ‘Making Tax Digital’ (MTD) scheme.
Now is a good time to be considering which software you should use, if you haven’t already done so.
HMRC is identifying a list of solutions that will integrate with their software, so check that the software you select is listed by HMRC. Secondly, it should enhance the everyday running of your business. For example, find out if your bookkeeping software links into it so that you can update your accounts ‘on the move’, whether it will automatically remind customers about unpaid invoices and if it will automatically import information from your bank.
What next? Contact us if you’d like to talk through the options. Our team have reviewed and worked with many of the packages, and can independently help you to identify the software that would be most suitable for your business.