Are you Making Tax Digital Ready?

What is Making Tax Digital ?

Making Tax Digital (MTD) means you won’t be able to keep and submit manual records after April 2019. Instead, HMRC will only accept VAT returns sent using software that supports Making Tax Digital for VAT.

The use of this technology is compulsory so it’s a good idea to start thinking about your accounting software soon – that way you can avoid any potential complications from upgrading or migrating your software mid financial year.

It’s worth remembering it’s far easier to submit returns using online accounting software compared to traditional desktop software.

What to look for in online accounting software

Automation

Automatically calculates the tax you owe (including VAT and payroll tax).

Connectivity

Pulls transaction data straight from your bank, invoicing software, or POS systems.

Continuity

Updates transactions daily, helping you to stay on top of bank reconciliation.

 
Let Xero do the heavy lifting for you

Get your books done faster
Xero can automatically handle tasks that used to take up all of your time. From importing bank transactions to sending invoice reminders, we’ll do the work for you.

Feel confident in your numbers
With all your data stored safely and in one place, it’s easy to get a snapshot of how your business is tracking. You can also invite your accountant or bookkeeper into Xero so they’ll ensure you meet all your tax obligations.

Add more to your software
Look after your staff with Xero Payroll and drive profitability on your projects with Xero Projects. It’s fully integrated with Xero so you can keep all your business information in one handy place.

Find out more about Xero

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