Making Tax Digital with Alexander & Co
With 2021 marking the year where Making Tax Digital becomes mandatory for many businesses, accountants at Alexander & Co are on hand to help you make the transition.
What is Making Tax Digital?
Making Tax Digital is an initiative set up by the government, to try and improve the way businesses and individuals declare their tax to HMRC. It encourages the use of digital account keeping, in order to bring tax into the 21st century.
This new, fully digital tax system aims to help people get their tax right first time and make it easier than ever to submit your tax returns.
The scheme aims to not only help you save money on your taxes, but also prevent late payment fines. The late payment penalties alone can be detrimental to your business, so ensuring you are meeting the tax return deadlines is extremely important.
Read some of our articles regarding MTD.
What can our Making Tax Digital accountants do for you?
Our team of accountants are experienced with the new Making Tax Digital scheme and can help you to get your accounts set up and ready for the switch.
If you are not confident with digital software, we can help you navigate your accounting tools and help you submit your tax returns online. Many digital accounting software will have a MTD feature built-in, allowing you to simply click a button and submit your information straight to HMRC.
If you are looking to make the switch to digital accounting and are looking for software that meets the Making Tax Digital scheme’s requirements, here are a few of our favourites: