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Making Tax Digital

Acc-Unique Solutions are now processing vat returns for Making Tax Digital (MTD).  On 1st April 2019 Making Tax Digital became live.  Many VAT registered businesses with an annual turnover above the VAT threshold (currently £85,000) now need to keep digital records. Organisations that operate as trusts, ‘not for profit’, not set up as a company, VAT divisions, VAT groups, local authorities, public corporations, traders based overseas, those required to make payments on account and annual accounting scheme users do not have to comply with MTD requirements until October 2019.  Click here to find out your Making Tax Digital (MTD) first submission date.

MTD enabled accounting software, such as Sage 50 Cloud, will be compulsory for VAT recording and submission purposes.  However if you prefer to use Excel spreadsheets to record your vat transactions you can purchase bridging software.

Our Sage 50 Intermediate training days cover everything that you need to know about using Sage software to complete your Making Tax Digital vat return.  Download a copy of our programme here to ensure your business is fully MTD compliant.

If you are a fellow agent and are looking for guidance on the steps to take to sign up your clients for Making Tax Digital the following link should help.  Remember that Acc-Unique Solutions can provide you with back-up accountancy staff if your practice is under pressure during this busy period.

Step by step instructions for setting up your Making Tax Digital agency

If you are currently using Sage software then the following link will help you to confirm that your software version is compatible for MTD:

Is my version of Sage 50 accounts compliant with Making Tax Digital?

Statistics in a report shown in Sage’s ‘Making Tax Digital’ guide for businesses suggests that on average a SME can save 27.6 days per year by using digital accounting software in comparison to using manual methods*.  Contact us for a free consultation and we can recommend an efficient digital solution for you.

Paperless Office

Why not compliment your MTD enabled software with a digital, paperless admin system.  These changes may seem a little daunting but once implemented, you will be amazed at the benefits that a paperless, cloud-based accounts and admin system can provide: –

  • Access to your files from any device, from any location.
  • Share files with with colleagues, customers and suppliers, contracts can be digitally signed online
  • Receipts and invoices can be uploaded to your accountant from a simple photograph using your smart device
  • GDPR compliant – no danger of confidential paperwork being left lying around or important emails being sent to the wrong person.
  • Reduced ink, stationery and storage costs

Acc-Unique Solutions are already using these superbly efficient systems in house so our clients can relax knowing their information is encrypted and ready for the changes ahead.

Leave it to us

Of course using this new method of accounting and record-keeping will not happen overnight but whether you choose to attend our training courses or outsource your requirements to us to manage, we are on hand to provide 100% support and will make the transition as smooth as possible.

Visit our Courses page to see the full programme of training events and the support that is available if you choose Acc-Unique Solutions for your accountancy provider.

How can we help you?

You have questions? Contact us today, we’re here to help. Just submit your details and we’ll be in touch shortly.