The days of collecting a years worth of receipts in a bag and dumping it off to your accountant are over.
The Government has recently announced the next phases of Making Tax Digital, are you prepared?
MTD roll out will be as follows:
•2022 - All VAT registered entities will have to use MTD compatible software to file their VAT returns from periods starting in or after 1st April 2022.
•2023 - From April MTD for Income Tax will be introduced for unincorporated entities (Self Employed Sole Traders) & landlords with an annual turnover above £ 10,000.
If you need any advice or help in this matter feel free to make contact.
07500962377
info@360business-services.co.uk
