|, MTD, Accounting, Compliance, Digitalisation, Tax|Article: Making Tax Digital: the golden opportunity for change in a digital age

Making Tax Digital: the golden opportunity for change in a digital age

If you haven’t started working out how Making Tax Digital for VAT will affect your business and decided what your strategy will be, the time is now.

MTD The Golden Opportunity for Change in a Digital AgeThe fundamental change for you is that HMRC’s online interface, where most accountants have manually entered information into the nine boxes for VAT return submission, will no longer be available for businesses with a turnover above the VAT threshold of £85,000.

If the introduction of iXBRL and GDPR taught most businesses anything, it’s that it’s never too early to review your processes to ensure you meet the requirements of new legislation.

In this article, Wolters Kluwer will help you navigate the transformation by guiding you through:

  • What’s changing and how to prepare
  • The facts and myths around MTD
  • Bridging the gap to digital records with bridging software
  • Monitoring VAT submissions in an MTD environment
  • Wolters Kluwer’s end-to-end toolset, CCH OneClick

Ultimately, MTD is a transformation worth being prepared for. This is a must-read for any practice heading into a world with MTD.

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2019-03-05T16:43:01+00:0022 February 2019|Categories: Practices, MTD, Accounting, Compliance, Digitalisation, Tax|Tags: , , , |