Making Tax Digital is a new way from HM Revenue & Customs for Taxpayers and Businesses to report there earnings and expenses to them instead of their annual Self Assessment Tax Return once a year, under current plans Taxpayers and Businesses will need to report to HMRC on a quarterly business (unless exempted) digitally through Software their financial affairs. HM Revenue & Customs are calling this “The Death of the Tax Return”. So what does this mean it will mean? instead of just doing one tax return every tax year to HM Revenue & Customs there will be a minimum of four a year plus a final submission to complete the tax year so a minimum of five in total, this is going to be a major change for you and us and we are here to help and support you every step of the way this is not what we want but it is HMRC vision to have records kept digitally being in the digital world we now live in nowadays due to this we are changing our practice to support you in this transfer but also for the further that’s why we have now released some new products for you and your business
•Our own App for your Phone / Tablet this will keep you up to date with the latest financial news, our news to you but also for you if you can report your income and expenses through the App for which will be automatically directed to us to complete your financial affairs.
•Your own Client Portal instead of having to receive lots of more information through the post relating for records to be sign and return back to us to meet the more important deadlines you will have access to your own portal for which an email will be sent to you or if using the app a push notification for you to login into to say new documents awaiting for you for you to check and digitally sign this will save time and money to you and us and make sure we submit documentation to Government departments before deadline dates.
•Bookkeeping if you can not complete your records through the software don’t worry we can help and support you and convert the paper base to digital base for you.
•Training we will be offering training and ongoing support in relating to the Software, the App and the Client Portal to give you more flexibility in your financial affairs.
•Events we will be offering Conferences, Meetings, Webinars and online support.
These are only a few items we are doing to helping and supporting you to make you HM Revenue & Customs compliance for Making Tax Digital falling to do so is not an option you must be ready for the changes and we are here for you.