MTD: Making Tax Digital

A streamlined approach to tax

Making Tax Digital (MTD) is the next step to revolutionise the way we pay taxes. Already having become the staple for VAT, with more to follow, anyone who hasn’t registered shouldn’t hang around.

It’s understandable if you’ve become lost in the rabble of the scheme over the last few years. You could perhaps feel concerned over such a significant shift in your processes. But we’re here to tell you that you should embrace MTD, not avoid it.

The Government scheme aims to streamline your tax returns, heightening the accuracy and efficiency for you and your accountant. Unsure how it all works? Well, we’d be happy to talk you through the ins and outs.

Finding MTD-compatible Accounting software

The first step is to find an MTD-compatible software package (something we can easily help with). You’ll then have to register with HMRC before organising and filing your important financial information.

Because there are specific deadlines every quarter, you’ll have to mark your calendar.

Collaboration with your accountant

Thankfully, through your MTD-compatible software, you’ll receive real-time updates on your books and finances – providing a new level of collaboration between you and your accountant.

Once you’re accustomed to the new way of working, you’ll be ready for future developments in the scheme. Future-proof your tax processes today.

Interested in learning more? Find a package that works for you.