- MTD compliant
- Optimise accounting software
- Save time
How will this impact my business?
It depends on how you currently prepare your records
- If you are using spreadsheets you will need to transfer over to MTD compliant accounting software. Spreadsheets alone are not MTD compliant.
- There are over 150 accounting software available, but you will need to make sure the one you are using is MTD compliant.
- From April 2020, HMRC will issue penalties to businesses that are not compliant.
What are the benefits of MTD?
Opportunity to review your systems and process
- Using accounting software can be seen as a real competitive advantage. Machine learning and additional connecting software will give you the ability to report on real-time information.
- Connecting bank feeds and other apps will automate processes efficiently and will free up your time so you can run your business.
What should I do now?
Make sure that you are compliant
- If you're not using accounting software then transfer over as soon as possible. We can help you with this making sure it's a smooth transition.
- If you're on accounting software then make sure that it is MTD compliant and ready to use. If you are unsure, please contact us and we can let you know.
- Once on accounting software always make sure that you are using the most up to date version.
Frequently asked questions
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