17 Aug 2018 4:57 PM

When talking to business owners it’s clear that there is a lot of confusion around the introduction of Making Tax Digital (MTD) and what it all means.

Most accountants have known that has been lurking on the horizon for a few years, but there have been consultations, postponements and pilot schemes along the way. Now that the first stage implementation date is imminent there has been a distinct lack of communication to the public by HMRC, who have delegated the task of making business owners aware of what they need to do to accountants.

As an accountant, when I introduce MTD into a conversation with a business owner typically the same questions come up,

  1. What is it exactly?
  2. When does it start?
  3. Does it apply to me?
  4. Do I need to change anything?
  5. How much is this going to cost me?
  6. Can I keep using spreadsheets for my bookkeeping?
  7. How can I check if I’m compliant?
  8. Can you help me?

I’ve summarised the answers to these questions in a podcast, which will give you a brief overview of what MTD is; and how to start on the road to compliance; and even how it can be an opportunity for your business, which is available below.

 

We are planning a more comprehensive webinar on MTD which will be available next month and will be supported by a series of seminars to help business owners make sure their businesses (if required to be) are prepared.

I am currently talking to business owners about what they need to do and how we can help ease the burden, and cost of, compliance.

If you would like to talk about what MTD means for your business, or if you would like me to send you details of our webinar and events on MTD please contact me.