Making Tax Digital is a government initiative that sets out a bold vision for a digital tax system to “make it easier for individuals and businesses to get tax right and keep on top of their affairs”.
The first phase of MTD for business came into force on 1 April 2019, with further transitions scheduled beyond 2020 – here’s what you need to know about this HMRC initiative, including Making Tax Digital software. To find out more visit the Government’s MTD page.
At the end of each VAT period which usually every three months – you must complete a VAT Return, The Hollies Bookkeeping can take the stress out of this for you.
Many businesses are required to register for VAT and lodge regular returns. We can assist by:
- Applying for VAT registration if required
- Advising the best VAT method to adopt (cash, standard, annual or flat rate)
- Preparing and lodging your VAT returns.