Making Tax Digital

Making Tax Digital help in Blackpool

Making tax digital help in Blackpool
Why make tax digital?
Making Tax Digital is a new system introduced by the HMRC to help businesses stay on top of their tax responsibilities.
Starting from April 2019, the first step in paperless accounting has taken place in Britain. All taxpayers above the VAT threshold are now required to submit their accounts every quarter to the HMRC online portal using a third-party website.
This is a radical change from the current system and all those businesses who are above the VAT threshold will be required to file their tax returns using this system. There will be penalties if businesses fail to register themselves on time or submit their quarterly accounts online.

Benefits of Making Tax Digital legislation:
  • Helps businesses to stay on top of their day-to-day accounts
  • Improves efficiency
  • Easier to stay compliant
  • Improves the effectiveness of the whole system
  • More accurate tax summaries will be obtained
  • Greater transparency
How can we help you in this regard?
With many years of experience, our accounting professionals can help you ease into this transition without impacting your business. We can help you stay updated with your daily accounts and maintain those quarterly returns without a hitch. We also offer a number of other services covering bookkeeping, accounting, tax planning and advice as well. Contact our team for an initial consultation.

Speak to the professionals

Worried about this new direction? Then contact Clarke Broome & Fleming today.
01253 621 178
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