Digital Tax Records
Digital Tax Records take pride in offering you a friendly, conscientious and approachable service. We can manage all of your needs on-site or off-site and can do as much or as little as you require. We recognise that not all businesses are the same so we aim to provide a range of packages to suit your needs. From basic support, extensive bookkeeping and payroll to bespoke packages, we provide an experienced and efficient service to suit every business.
What is Making Tax Digital (MTD)
Making Tax Digital (MTD) is part of HMRC’s programme to make the UK one of the most digitally advanced tax collection agencies in the world.
From April 2018:
From April 2018 for Income Tax, businesses (including self-employed and landlords) will be able to keep records of their income and expenditure digitally, and send summary updates quarterly to HMRC from their software (or app) if they choose to do so.
From April 2019:
From April 2019, VAT registered businesses (including self-employed and landlords) with turnover above the VAT registration threshold (currently £85,000) will have to:
- Keep their records digitally (for VAT purposes only)
- Provide their VAT return information to HMRC through Making Tax Digital compatible software