Why is everyone scared of Making Tax Digital?
HMRC have gone live in the timeframes anticipated with Making Tax Digital (MTD) and there have been a lot of scare-stories circulated that we would like to assure small businesses that they shouldn’t be worried about.
Keeping your records up to date, on-time and live is how we’ve always encouraged our clients to work. It gives you a greater control of your business, your invoicing, chasing and keeping your all-important suppliers happy.
The implementation of MTD is easy to handle – we’ve been trialling multiple software platforms with our clients for months using the MTD pilot and have had no issues with submissions. Most software providers have embraced the changes and operate smoothly and for those that don’t wish to invest into software at this stage; we have implemented internal software options to keep our clients compliant.
MTD is not to be feared, it’s another of HMRC’s introductions to electronic reporting and should be viewed the same as online Self-Assessments and RTI Payroll Submissions. The transition is smooth, having live and up to date data is a benefit and every small business can handle this with the right support.
If this is something that is still worrying you and your business we are always happy to help.
If you would like further information please contact a member of our team who will be happy to help.
T: 01905 622202 | www.swanda.co.uk
