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Making Tax Digital (MTD) is one of the most significant changes to the tax system since the introduction of Self-Assessment more than 20 years ago. VAT registered businesses with a taxable turnover above £85,000 are the first to be affected with effect from April 2019 when the filing of VAT Returns digitally, either directly from compatible accounting software or via bridging software, will become mandatory. MTD for Income Tax and Corporation Tax is expected to follow, but not before 2021.
For answers to some of the most common questions that we have been asked, please click here.
We will be working closely with clients and contacts to ensure they are fully prepared for the arrival of MTD. If you would like to discuss MTD and the implications for your business please contact us.
Please visit our Software Services page which includes details of some of the many software packages we support, to help you stay ahead and deal with the requirements of Making Tax Digital.
We are offering the opportunity for business owners to benefit from free access to the expertise of our cloud accounting software specialists, based in our Berwick office.
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We hope that you -our clients, our contacts and our colleagues -continue to keep safe and well in these unprecedented times. We are providing as near-normal service as possible and we can be contacted through all the usual channels.
Our three offices in Kelso, Melrose and Berwick are all being ‘manned’ so you can call us or arrange for records to be dropped off or collected. There are still social distancing and COVID safety restrictions in place so please contact us in advance to make suitable arrangements. All post is being dealt with as normal.
The partners and staff who are home-working remain fully contactable. Whilst face to face meetings are still not appropriate just yet we continue to utilise other communications such as video conferencing, in addition to telephone and email.
For many business owners now is the opportunity to take stock of the new business landscape. This may include your accounting or tax needs, online accounting software, or perhaps a new business venture.
Rennie Welch have a fantastic team of experienced, skilled and qualified people ready to help and advise. We are also providing regular updates on all grants, loans, furlough and other support available. Further information is set out here.
To discuss a specific matter or simply to find out more, please get in touch.