MAKING TAX DIGITAL
From April 2019, all VAT-registered businesses with a taxable turnover above the VAT threshold will be required to use the Making Tax Digital (MTD) service to keep their records digitally and use commercial or third-party software to submit their VAT returns.
At Donoghue & Co. we are accredited partners of Xero, Quickbooks and FreeAgent. We also have a vast knowledge of Sage and KashFlow and use them for a number of our clients. We therefore have the necessary knowledge across all the platforms to ensure that we select the correct software that is best for our client, and they can be safe in the knowledge that our expertise allows us to offer the following services: -
- Full MTD Service
- Comprehensive Training
- FREE Consultation
There is currently an exemption for a small variety of VAT-registered businesses with more complex requirements. A decision on these businesses is expected by October 2019 to allow more time to test the service with them before they are mandated to join.
Overall, it is another big change to our industry and we are prepared and ready to help and advise our clients in the best way possible.