HMRC have a vision of moving to a fully digital tax system where bureaucratic form-filling is eradicated, unnecessary time delays are eliminated and taxpayers have access to digital accounts, with the information HMRC needs automatically uploaded, bringing an end to the tax return.

The reality for the SME and private tax client is that we have a move towards digital record keeping coupled with regular quarterly reporting of income and expenditure to HMRC via electronic processes, although exact details of how this will be implemented have yet to be agreed.

The profession is agreed on one point however; cloud accounting is the only possible way of overcoming the logistics of physically transferring, reviewing and submitting your quarterly returns, in whatever format they may eventually take.

Therefore you need to start planning for Making Tax Digital now. JKT can help ensure that your accounting systems and procedures meet the evolving Making Tax Digital requirements, whilst remaining functional and cost effective to use.

Please contact us for advice.

Team at Tavistock Office

Cloud Accounting

Cloud accounting services are the simple way of enabling software to be stored and accessed online.

View more