Making Tax Digital (MTD)

What Is MTD?

MTD is a government initiative being introduced to ensure that all tax data is submitted digitally to HMRC so that the UK tax system is effective, efficient and easier for taxpayers.

VAT is the first tax to come under the MTD regime from April 2019, with income tax and corporation tax expected to follow in April 2020.

Consequences of MTD

All companies who are registered for VAT will have to submit their returns from April 2019 digitally. To do this a company will need MTD compliant software.

Xero

Xero is recognised by HMRC as providing MTD compliant software, and is the largest UK accounting software provider in the UK with over 312,000 subscribers as at 31st March 2018.

We are Xero Certified Advisor Partners and can help with migration from other systems to Xero to help with the transition to digital tax management.

Moving to Xero has lots of benefits to improve the efficiency of small businesses with real time information, unlimited access, automatic bank feeds, online invoicing and clear visibility.

Please contact Colin Spencer to discuss your requirement in more detail to see how we can help you.

Contact Us

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Gloucester
27 Little Normans, Longlevens, Gloucester GL2 0EH
01452 537599 / 07771 874022

Cheltenham
105-107 Bath Road, Cheltenham, Gloucestershire, GL53 7LE
01242 633100 / 07771 874022

info@spenceraccounting.co.uk

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