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A Bookkeeping Company providing Bookkeeping and Payroll Services
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Tax Returns 2017-18
If you need to file your 2017-18 Tax Return it has to be submitted and any tax paid by 31st Jan 2019.
If you miss the deadline by 1 day you will be fined £100.
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2017-18 Self Assessment Tax Returns
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We can provide bookkeeping and payroll services to small business.
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If you are VAT registered this applies to you from April 2019. You will need to keep your records digitally. Talk to us to find out more and how we can help.
VAT registered businesses with a taxable turnover above the VAT threshold (£85,000) will be mandated to keep digital VAT records and send returns using Making Tax Digital (MTD) compatible software from April 2019.
https://www.gov.uk/…/making-tax-digital -for-business-stakeh…
Ask us about our services.
We can provide bookkeeping and payroll services to small business.
Let us organize and give you back control of your business.
GDPR: 'Don't panic!' data watchdog tells firms http://www.bbc.co.uk/news/business-442084 56
Making Tax Digital for VAT from April 2019 The regulations to bring into force Making Tax Digital for VAT (MTDfV) are now law, and digital VAT returns will be required from 1 April 2019.
MTDfV is the first phase of HMRC’s landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Regulations have now been issued which set out the requirements for MTDfV.
... Under the new rules, businesses with a turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using MTD functional compatible software.
The new rules have effect from 1 April 2019, where a taxpayer has a ‘prescribed accounting period’ which begins on that date, and otherwise from the first day of a taxpayer’s first prescribed accounting period beginning after 1 April 2019.
HMRC is piloting MTDfV during 2018, ahead of its introduction in April 2019. Keeping digital records and making quarterly updates will not be mandatory for taxes other than VAT before April 2020, although businesses below the VAT threshold which have voluntarily registered for VAT can opt to join the scheme.
As with electronic VAT filing at present, there will be some exemptions from MTD for VAT. However, the exemption categories are tightly-drawn and unlikely to be applicable to most VAT registered businesses.
Keeping digital records will not mean businesses are mandated to use digital invoices and receipts but the actual recording of supplies made and received must be digital. It is likely that third party commercial software will be required. Software will not be available from HMRC. The use of spreadsheets will be allowed, but they will have to be combined with add-on software to meet HMRC’s requirements.
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A GDPR Audit is the first step to finding out what you need to put in place to comply with the new GDPR regulations that come into force on 26th May.