Now has never been a better time to think about switching your accounting records (if you haven’t already done so) into the cloud.
Making Tax Digital (MTD) is just around the corner…. this change in legislation will require vat registered businesses with a taxable turnover above the current vat registration turnover threshold (£85k) to maintain digital accounting records and to submit their vat returns via MTD approved compliant software. These changes will affect vat return periods commencing on or after 1 April 2019.
Why the cloud? Cloud accounting has many benefits:
Bank feeds for up to date, accurate reporting of cash position
Invite in your accountant for support without the need for sharing backups
Need any further convincing? We all want to save time, don’t we? Good news: cloud helps with this too! Bank feeds make bank reconciling more efficient. The ability to access anywhere, anytime means you can deal with invoicing and processing at your convenience and finally, add on apps can help with the following processes:
If you’re thinking about making the leap, get in touch with us and we can talk through the options with you.