Making Tax Digital
Making Tax Digital, or MTD for short, is the UK Government’s drive to take the tax system entirely online. That means getting businesses to use software for all their financial record-keeping and reporting to HMRC, rather than paper records or copying and pasting from offline documents. Under MTD, businesses need to use HMRC-approved compatible software, such as QuickBooks.
In 2018, it became compulsory for businesses above the VAT threshold to comply with MTD for their VAT returns. From April 2022, all businesses must comply with MTD for VAT. Then, from April 2023, Making Tax Digital for income tax self-assessment (MTD for ITSA) applies to certain individuals, with MTD for corporation tax not expected to be many years behind.
We can audit your business’s MTD compliance and help you identify, source and setup suitable software so you can meet the requirements without missing a step.
For most clients running small and medium-sized business, we recommend QuickBooks.
We have always embraced new technology and cloud accounting apps are no different.
“Farewell manual data entry, hello productivity” is what AutoEntry promises – and what it delivers.
AutoEntry is cloud-based software that automatically captures the data from your business’s bills, invoices, expenses forms and receipts. It then feeds them directly into your accounting software – no manual entry, no copying and pasting, just a few clicks.
If you’d like to find out more about AutoEntry, a free trial is available. Then, if you decide to subscribe, there is a range of monthly packages, with a 50% discount for Deans clients for the first 6 months.
Why choose us as your MTD adviser
We embraced cloud accounting early and look for ways to save you time and money using software by default.
No software tie
We’re not tethered to any one package or provider and know our way round Xero, QuickBooks, AutoEntry and more.
We’ll tell you directly what you need to do, by when, and which tools are best, most affordable and easiest to use.
Up to date
Making Tax Digital is always evolving. We stay on top of the news from HMRC so our clients always have the latest information.
Your needs first
When it comes to MTD, we always start with the client: what will keep them complaint while also working for their business?
Training and support
Once you’re up and running with MTD compaitbale accounting software, we’ll always be on hand to help and advise.