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.
The fundamental change for youis that HMRC’s online interface, where mostaccountants have manually entered information into the nineboxes for VAT return submission, will nolonger be available for businesses witha turnover above the VAT threshold of£85,000.
If the introduction of iXBRL and GDPR taught mostbusinesses anything, it’s that it’s never too earlyto review your processes to ensure you meet therequirements 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