Over the last week or two HMRC have begun getting in touch with small businesses across the UK who are not complying with Making Tax Digital (MTD) but are required by law to do so. These businesses need to take action now to avoid any potential penalties being levied.
If you are a VAT registered business with a turnover of £85,000 you should be submitting your VAT returns through MTD compliant software and you are also required to keep your records digitally.
We at Whiting and Partners have over 1000 clients using cloud accounting software and therefore have a wealth of experience to enable us to support clients to make the right decision on what software and systems to use.
If you have received a letter, don’t panic! However please do get in touch with us to see how we can help you become compliant and avoid any penalties.