Want to know what Making Tax Digital is all about? An introduction to Making Tax Digital
The HMRC has announced that from the 1st April 2018, all UK businesses will be required to submit all of their financial records in a digital format to the HMRC. It’s important to note that a recognised and approved accounting software will need to be used to submit the information.
The hopes and dreams of the Government are that the new “Making Tax Digital Initiative” will not only make it easier and quicker for individuals and businesses to submit accurate financial data, but it will also provide a more efficient streamlined process that should save businesses time.
Do you know how the changes to Making Tax Digital will affect you?
If you are a business in the UK or overseas with an annual turnover that is over the VAT threshold, you will be required you will need to by law to submit all of your finances in a digital …
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