Making Tax Digital & online accounting software

Making Tax Digital

Making Tax Digital (MTD) is the most fundamental change to the administration of the tax system for at least 20 years. In July 2017 HMRC announced that all businesses and individuals will eventually have to file their accounting information digitally. By April 2019 VAT registered business above the VAT threshold (£85,000) will need to keep and submit their records digitally for VAT purposes. It is likely smaller businesses will be required to keep digital records shortly after.

The essential elements for businesses and landlords are:

  • Paper records will no longer be sufficient: It will become mandatory for almost all businesses and landlords (self-employed, partnerships and limited companies) to use software or a spreadsheet to keep accounting records. Paper accounting records will cease to meet the requirements of tax law.
  • Quarterly reporting: There will be a requirement to submit updates to HMRC each quarter directly from accounting software, within one month of the end of each quarter.

As your accountant I will support you through these changes and provide the ongoing services that you need.

Online accounting software

In recent years the emergence of cloud accounting software has enabled business owners to have a better, real-time overview of their finances whilst improving the collaboration with their accountant.

I have a good working knowledge of SageOne, Kashflow, Xero, and Quickbooks.

I am a Proadvisor for Quickbooks Online and I am looking to move my clients to this software package going forward, if they are not already using an online package.

I am able to introduce my clients to the benefits of cloud accounting including which system suits their needs best. I can then set the system up and organise the transfer of data from any existing bookkeeping system. I will then provide any training and ongoing support as required.

Require more information?

If you would like more information or would like to speak to me direct then call me on 07754 050880. Or if you would prefer, ask me a question online.

We have always been impressed by her professional and efficient practice. Always there to answer any queries, we have found her to be most helpful.

Helen Armitage, Armitage Cleaning Ltd

I will definitely be recommending Helen Rhodes Accountancy to others and look forward to working with Helen going forward.

Gemma Montgomery, Gemma Montgomery Aesthetics

Helen offered invaluable advice on setting up my business. All the work has been done in a friendly, yet highly professional manner and I would recommend her to others starting up in self-employment.

Sarah Farr

I moved from a larger firm of accountants to Helen Rhodes Accountancy last year. Helen completed he transition flawlessly, dealing with HMRC and VAT requirements efficiently. I highly recommend her.

David Barthorpe, Partners in Performance

Helen takes care of all my accountancy needs for my sole trader business and a new limited company start-up business I have, including annual accounts, VAT, and all tax returns. Her advice is always useful and the fact she is local is very convenient.

Tony Morrison, AR Morrison Electrical Services & Holmor Designs Limited

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Helen Rhodes Accountancy, St John's Church, Calder Street, Greetland, Halifax, West Yorkshire HX4 8AQ
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