Our Services
Accountancy Services
including Limited company, partnership, sole trader and sub contractor accounts, rental property, VAT returns and online filing and bookkeeping
Taxation
including Corportation Tax Returns, Self Assessment, partnership and personal tax returns, Capital Gains Tax calculations and business and personal tax advice.
Encompassing making tax digital
(a HMRC requirement)
Payroll Admin Services
including your weekly, fortnightly or monthly payroll calculations and preparation of employee wage slips, P45's, P60 forms, real time information, online submission and automatic enrolement, pension calculations and submissions
Book keeping Services
including VAT return preparation and submission
Making Tax Digital is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs.
Why did HMRC introduce Making Tax Digital?
HMRC gave the following reasons for launching Making Tax Digital:
- Accurate Tax Information
Replacing paper-based bookkeeping with digital tax accounts will let you check the information HMRC holds about you is 100% correct. - Reduced Errors
Making Tax Digital’s new reporting function will allow HMRC will to look at your tax information almost immediately, reducing human error from data input. - Easier to understand
HMRC anticipates taxpayers will better understand how much tax is owed within the digital tax account – much like online banking. - Easier contact with HMRC
Making Tax Digital will make it easier for you to contact HMRC online via webchats and secure messages
When will Making Tax Digital affect me?
April 2019– VAT registered businesses with a turnover above theVATthreshold (currently £85,000) were required to register for Making Tax Digitalfor VAT. The new rules required these businesses to keep digital VAT records, and submit their VAT returns via MTD-compliant software.
April 2022– VAT-registered businesses with a taxable turnover below £85,000 will be required to follow MTD for VAT rules for their first return starting on or after April 2022.
April 2024–Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for Making Tax Digital for Income Tax from 6thApril 2024.
2026– Making Tax Digital for Corporation Tax and will not be introduced before 2026.