Under Making Tax Digital, businesses with turnover exceeding the VAT registration threshold (£85,000 until 2022) will, with a small number of exceptions, be required to submit VAT returns for periods beginning on or after 1st April 2019 directly from software. It will not be possible to type the return into HMRC’s VAT portal as most do at the moment.
This will mean businesses using manual records, spreadsheets or older accounting packages need to consider how they will submit VAT returns going forward, something we are discussing with our clients on an ongoing basis. We are finding that each client’s situation is different and that there are a variety of solutions available, including bridging software. It may be worth moving to a modern cloud based accountancy package such as Xero, Sage or QuickBooks, but there is no obligation to do so. It is however important to discuss with your accountant how your business will be ready for making tax digital.
We are running training sessions for QuickBooks to help get businesses set up and started on a software package that is HMRC compliant. Both clients and non-clients are welcome.
Course date options
- Tuesday 19th March
To be held at the Harts office in Macclesfield, 10.00-12pm at a cost of £97 + VAT per person,
Refreshments provided and telephone support available after training session.
QuickBooks monthly subscription – Harts can offer a discounted price for this software. Please contact us for more information.
To book a place on one of these course dates, email email@example.com