Are you Ready for Making Tax Digital (MTD)?
MTD applies all companies with business with a taxable turnover above the VAT registration threshold (currently £85,000). With effect from 1st April 2019, you are required to keep digital VAT business records and send returns using Making Tax Digital (MTD)-compatible software.
VAT must be submitted using MTD compatible software for the first full VAT quarter after April 2019.
What does this mean for Sage 50 users? Sage 50 clients can easily be moved to Sage 50C, a desktop version of Sage 50 with some cloud features or purchase a yearly licence fee for the MTD add on.
Move to another cloud accounting system – both Sage Business Cloud and Xero have a migration tool to move your Sage 50 onto the cloud. Contact Donna for further information and prices