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VAT REGISTERED CLIENTS

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VAT REGISTERED CLIENTS

MTD goes live in April 2019. If you are a VAT registered client where we prepare your VAT for you, you would have had or are due to have a phone call from our offices about the best way to move forward and deal with the quarterly returns.

We will be working with each individual client to ensure that we meet their requirements whilst also ensuring that they are MTD compatible.

This does vary from client to client, the general solutions at present tend to be moving to cloud based software.

The options are: –

– Use the software to its full capacity to produce invoices, debt control, profit and loss, etc.

– Use cloud based software for one aspect of the business, perhaps sales or purchases. The information will then be reconciled by us on a quarterly basis.

– Supply information to us electronically, normally with a spread sheet for us to then compile the VAT.

– By working closely with a freelance bookkeeper that we deal with on a regular basis.

– To continue as they are at the moment, but to incur an increase in fees.

The ultimate aim for us is to ensure that you comply with the MTD regulations with minimum increase in fees.It is worth noting that there are other benefits by using cloud based software.Please speak to us about software, as some are more suitable than others.If you maintain your own books and would like more information please do not hesitate in contacting us.

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