Making tax digital (MTD) is now law for all VAT registered businesses with turnover over £85,000. This new law requiring Digital record keeping and filing of VAT returns via the MTD portal came into force on the 1 April 2019. This means change for many businesses but also a huge opportunity.
|There are significant advantages to going “Digital” and we’ve been working with a number of our clients to help them streamline the way they do their accounts. Just suppose you:
• Had a system where your bank fed receipts and payments a directly into your accounts on a DAILY basis;
• Took a photo on your phone of a purchase or expense item invoice and it was posted automatically; and
• Could see your results, who owes you money, who you owe and your business bank balance 24/7, 365 from your smart phone!
BGA work with Quickbooks Online and Xero to help business owners comply with the law and to give you:
• A clear picture of your current financial position, in real-time
• Automatic updates that mean you can spend more time doing what you enjoy
• Your accounts are 100% online, so there’s no software to install and everything is backed up automatically. Updates are free and instantly available
• Upfront accounting software costs are eliminated – upgrades, maintenance, system administration costs and server failures are no longer an issue!
If you want to take your business to a new level please contact Rick or Matt at BGA for a demonstration. You are going to love this new way of doing things!