Business owners need to ensure they are aware of the impact of the new initiative ‘Making Tax Digital’ (MTD). From April 2019 businesses with turnovers in excess of the VAT threshold will need to keep digital tax records.

MTD will mean HMRC will have access to more of your data such as bank information and software will be required to file VAT returns. There will be more onus on a business owner to keep digital records therefore accuracy will be important as HMRC will be able to access your information. Contact us for further details.