Making Tax Digital for VAT will make it easier for businesses to manage their tax and will save them, and their agents, time which can instead be devoted to maximising business opportunities, encouraging growth and fostering good financial planning.
From 1 April 2019, under Making Tax Digital, around 1 million businesses registered for VAT with a taxable turnover above £85,000 will need to keep their VAT records digitally and file their returns using Making Tax Digital-compatible software.
The pilot opened for around half a million businesses whose affairs are up to date and straightforward.
Xtax Accountants Newmarket can work on a fixed fee basis with no hidden charges and free telephone advice for existing customers. Contact Xtax in Newmarket today for all of your accountancy requirements.