All VAT registered businesses, unless exempt, now need to make VAT returns on a quarterly basis using a ‘designated software package’. This is the first stage in the implementation of the Government’s Making Tax Digital programme, which is intended to take the filing of most taxes online in the coming years.
Many of our clients already use cloud accounting packages such as Xero and QuickBooks online.
These packages will not only future-proof your business but also ensure you are compliant with Making Tax Digital’s requirements both now and in the years ahead.
Keeping digital records and making quarterly updates will not be made mandatory for taxes other than VAT before April 2026 at the earliest.
Nevertheless, companies do need to be prepared for the gradual implementation of the new digital tax regime.
Contact us today to find out how we can save your business time and money, while making MTD reporting as stress-free as possible.