As leading providers of cloud management software for automotive businesses across the globe, our goal is to arm you with the necessary tools to succeed. As part of this, our detailed, user-friendly accounts module helps you keep your books clean and precise. In response to the announcement of HMRC’s Making Tax Digital initiative, we immediately got cracking with a brand new integration to ensure our users are fully supported when the changes come into effect.
What is Making Tax Digital?
Making Tax Digital is an initiative by HMRC to digitise the UK tax system, making it quicker and easier for taxpayers to effectively manage their affairs. All UK businesses will need to submit tax returns and record business-related transactions using MTD-compliant software, like Tyresoft.
Does it affect me and when does it happen?
HMRC is rolling the scheme out gradually, so you have time to adapt to the changes. It will begin by mandating Making Tax Digital for VAT in April 2019.
From 1 April 2019, businesses with a turnover above £85k will have to submit VAT Returns to HMRC digitally using compliant commercial software. 98% of VAT-registered businesses already file electronic returns, so this transition should be seamless for most. Smaller businesses can opt to join MTD for Business voluntarily but there is no obligation to do so.
A full roadmap of the MTD rollout is available here.
How can Tyresoft help?
Grab a cuppa, and relax… we’ve got you covered.
Tyresoft is listed by HMRC as a recognised software supplier supporting Making Tax Digital for VAT. So when April rolls around, you can keep a digital record of your VAT transactions and submit your VAT Return digitally through Tyresoft* with ease and confidence.
We know that thorough planning is key to success, so we have fully tested this integration ready to support you. And that’s not all, our dedicated support site includes help articles to walk you step-by-step through each process. Simple!
Any queries? Call us on 01905 384880 or email email@example.com – our friendly experts will be happy to help.