Chancellor Philip Hammond has announced that he is pushing ahead with the proposed changes for VAT-registered businesses.
From 1 April, small businesses with a turnover above the 85,000 VAT threshold will be required to submit quarterly returns online.
Making Tax Digital (MTD) has generated much criticism for the potentially excessive burden it will have on the self-employed. However, despite calls to postpone or cancel the new rules, due to take effect just two days after the UK is scheduled to leave the European Union, government is pressing ahead with the plans.
How Beavis Morgan can help?
Growing businesses often don’t have the time or resource to set up a full accounting function within the business. That’s why, at Beavis Morgan, we offer the capability to outsource your finance department to us.
We will take care of your day-to-day accounting needs, oversee the MTD for VAT changes on your behalf, and provide you with a single point of contact so that you can focus on what you do best – growing and managing your business.
We will also help you navigate any potential pitfalls and ensure all your accounting, financial and bookkeeping needs are managed from one place, so you don’t need to act as the go-between for your accountant and bookkeeper.
- You will never need to worry about missing a VAT deadline, or the complexities of running payroll.
- You will have access to accurate, reliable and timely financial information when you need it, whether that be profit or cash focused, or both, to accurately and effectively manage the company’s finances and drive growth.
- Our business experts will work with you to identify your requirements and then design and implement a system that will provide all the information you need, within a cost effective and efficient framework.
In turn, if you have any concerns regarding your tax return or other related matters, our experts at Beavis Morgan are available to assist. We take the hassle of dealing with HMRC away from you, so you don’t need to liaise with them directly.
Contact your usual Beavis Morgan Partner for further information and assistance.