Changes are afoot with filing your VAT returns
As you are probably aware HMRC have introduced new guidance from April next year. VAT registered businesses will no longer be able to file their VAT returns using the current HMRC portal. Instead, you will need to use software to do this.
While HMRC has said they will have a ‘soft landing’ for this in the first year and allow spreadsheets to be used. However, their long term aim is to get all VAT registered businesses onto some form of accounting software.
With this in mind we have put together an overview of some options to get your business ready for Making Tax Digital:
We can do the bookkeeping for you.
We already provide bookkeeping services and file VAT returns for many clients. Our bookkeepers are very experienced and provide accounting support to businesses of all sizes. Please contact us if you would like more information on how we could help you.
You could subscribe to Sage accounting software.
Sage offer a wide variety of different software packages to suit different sizes and complexities of business. Andrew Bagley is our in-house ‘Sage guru’ and can help you decide which software is best for your business and provide training for you as well.
Get cloud based accounting software
Another option available to you is Xero. Xero has different solutions depending on how complex your accounting requirements are. Two of our bookkeepers, Sue Osborne and Lenka Mikowski are both certified users of Xero and will be able to tell you more and again provide training if needed.
Preparing for Making Tax Digital
Whilst April sounds like a long time away, I would strongly encourage you to start looking at making the change to an accounting software product now. That way you will give yourself plenty of time to get trained and familiar with it.