From 1 April 2019 Making Tax Digital (MTD) will be compulsory for VAT-registered businesses with a turnover above the current VAT registration threshold of £85,000.
Under the scheme, all businesses registered for VAT that have taxable income about the VAT threshold will be required to maintain digital records, complete the VAT returns from the digital records and submit them electronically to HMRC.
If you are uncertain whether your existing software will enable you to do this, HMRC have an approved software supplier list https://www.gov.uk/government/publications/software-suppliers-supporting-making-tax-digital-for-vat/software-suppliers-supporting-making-tax-digital-for-vat
We can advise on the suitability of your current software, or assist in the introduction of new compliant software. We have a large outsourcing department and are able to help you in the transition to maintain your records digitally, through to undertaking the bookkeeping and VAT returns for you.
If you would like advice, or to discuss, please contact Graeme Whittall on Rugby 01788 539000 or Ismail Sidat on Leicester 0116 261 0061.