- Making Tax Digital (MTD) is a government initiative to modernise HMRC’s tax system, with the aim of making the whole process of administrating tax simpler and more efficient.
- VAT returns will have to be submitted digitally via MTD compliant software and all business-related transactions will have to be recorded digitally.
- There are exemptions, but nearly every UK business will be affected. If your business has a turn over above £85,000 you will need to be compliant with MTD.
- From April 2019, HMRCs VAT ‘portal’ is closing. You will no longer be able to submit your VAT returns through you Government Gateway.
- MTD presently only affects VAT. All other tax returns are as yet unchanged.
MTD VAT Returns for Barristers
After a number of years running the accounting function of a leading set of chambers, individual members approached me to do their personal VAT returns. With that experience, I understand how barristers work. I know the pressures on your time and how easy it is to get behind with administrative tasks. That is why I decided to set up a service tailored to the needs of barristers to address the requirements of Making Tax Digital, offering it at a price which makes sense to have someone else do the bookkeeping so you can concentrate on developing your practice.
StraightForward’s new worry free, reliable & responsive service provides a value for money solution to Making Tax Digital.
£400.00 per annum (plus a one off set up fee of £50.00)
- Fully compliant, VAT returns, submitted digitally and on time to HMRC, using approved software – Quickbooks Online.
- All your income and expenditure will be entered into your personal QuickBooks account, facilitating MTD compliant VAT returns and supporting year end accounts.
- Send your information and receipts, via email, post and/or upload directly into Quickbooks.
- You will get online access to your Quickbooks account enabling you to see your income and expenditure at any point during the year.
- Quick and easy, with no need for face to face meetings, with timely reminders for you to supply the information needed to prepare your VAT return.
References available upon request
Using StraightForward’s MTD VAT return service means you:
- No longer need to worry about Making Tax Digital
- No longer need to keep spreadsheets or your own records of income and expenditure
- Don’t need to get bogged down with tasks that won’t develop your practice
- Can concentrate on being a barrister.