Tax Returns – Making Tax Digital
Declaring your liability for taxation in the form of a Tax Return is a legal requirement with HM Revenue & Customs.
According to HMRC’s current plans in the next five years, all taxpayers will be able to use their online digital tax accounts to see a single, up-to-date and easy-to-follow overview of their tax affairs. In order to achieve this taxpayers will need to submit information more frequently online. For the self-employed and those receiving rental income the first quarterly return could be due as early as July 2018.
Online Accountancy – Integration with Making Tax Digital.
Getting your accounting records online now will mean that you will be on target for being able to submit the required information to HMRC.
1. Saves time
2. Automatically links with accountant
3. Visibility of Financial information
4. Simple data entry