For businesses over the VAT threshold, HMRC’s Making Tax Digital (MTD) scheme is due to go live early next year (but won't come into effect until at least 2020 for those who are not VAT registered).
It might seem like a long way off, but it'll be here before you realise and that's why you should start implementing systems now which will stand you in good stead for when the deadline for MTD affects your business.
As MTD approaches, Xero is fast-becoming the essential online tool for small business owners who want to keep on top of their incomings, outgoing and general accounts. The online app introduces a whole new world of cloud accounting and lets you work seamlessly with your bookkeeper or accountant.
Watch this easy-to-follow video to see how Xero can help you:
- Keep track of your finances
- Connect your bank account automatically into your accounts
- Undertake bank reconciliations easily
- Issue online invoices and invoice reminders
- Issue sales quotes
- Manage bills and purchases
- Manage expense claims
- Report custom built management accounts
- Log fixed assets
Our Xero-certified team can deliver the best cloud-based accounting software solution for your business. We're a Xero Platinum Partner and have grown to become the first independent Xero Platinum Champion in Nottinghamshire, so we're in the perfect position to offer you the support you need to start enjoying this game-changing software. You can learn more about how to prepare your business for MTD here.
RWB can offer in-depth advice to help you plan for MTD and move your accounting online…
Along with our partners at Xero, we are experts in every aspect of digital tax. Contact us on 0115 964 8860 or email email@example.com to find out how we can help your business.
The views provided in this article are for general information purposes only. Nothing in this article represents advice of any nature whatsoever. Accordingly, RWB CA Limited does not accept any liability or responsibility for the information contained in this article or any decision or other action that may be taken in reliance upon the information contained within it. RWB CA Limited accepts no responsibility for any errors of fact or opinion and assumes no obligation to provide you with any changes to its assumptions.