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The reporting requirement for the tax and how it is reported it changing in the coming year and the Government is committed to move everything digital by 2020.
This means that whether you are a sole trader, a company or a partnership all the information must be kept in digital records. Those businesses who haven’t got their digital records, will be prompt soon from their accountants and HMRC to have ones.
World is moving to digital platform where technologies dictates user’s behaviour. Understanding the need of digital system HMRC is creating one of the biggest tax digital system in the world, it would enable HMRC to monitor and where required investigate client’s affairs for inconsistencies.
Seeking a qualified accountant is top priority for business and corporates before it is too late in current environment as tax system is rapidly changing with more and more tighter rules in place.
The development in online and cloud technology has revolutionise the accountancy world, growing use of cloud technology enabled accountant to address the need and fill in the gap between clients and themselves.
We as Chartered Certified Accountants understand client’s needs and provide an online platform to enable clients to improve their working practices. We have clients worldwide and across the UK, our dedicated staff members work together with client’s to keep their books up to date and on top of their compliances. We provide cloud base software and other tool required to suit client’s needs, this enables our clients to keep track of their business records in real time and make informed decisions.
We can help you and your business before it is too late, seek advice from our professional and friendly staff.
Please visit the following link to Gov.UK for more details: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/484668/making-tax-digital.pdf.