Local Life - Wigan - April 2019

66 Business View
Just 1 week
to go!
by Chris Alcock - CMA Accountancy
Is your business ready for Making Tax Digital?
With effect from 01 April 2019 there will be
significant changes to the way you prepare and
submit your quarterly VAT returns. All VAT registered
businesses with an annual turnover above £85,000
will be required to keep digital records and submit
their VAT return to HMRC through MTD compatible
software.
If your business runs on spreadsheets and manual
records, you will be able to continue (for now at
least), but you will still have to make changes to
those spreadsheets so that they can link to HMRC
by using bridging software.
Assuming that you don’t want to pay fines to HMRC,
doing nothing is not an option, so your plans to
deal with this should already be in place and it is
generally accepted that the best way for a business
to prepare for Making Tax Digital is to switch to a
cloud accounting software package.
The good news is that switching to accounting
software packaging such as Xero and Quickbooks
will bring immense benefits to your business. You
can look forward to;
Saving Time - by reducing the time spent on
administration
Improving Cashflow - by sending invoices
electronically and being able to automate the credit
control process.
CMA believes that you should use Making Tax
Digital as an opportunity to move your business
forward and stay ahead of your competition. We
are online accounting experts, and are Xero and
QuickBooks partners so we can put you in a good
position to help you choose which software is best
for your business.
We offer a free consultation for anyone that would
like to speak to us about these changes. Feel free to
drop by the office on Skull House Lane in Appley
Bridge and we can discuss these further over a
coffee. Of course, there will be no charge for the
initial meeting.
In addition, and for a limited period only, CMA are
able to offer all new clients Xero or Quickbooks
software free of charge for six months if they sign
up for our services.
So if you have any questions regarding Making Tax
Digital or switching to online accounting systems
please do get in touch.
Chris Alcock ACMA - CMA Accountancy
39 Skull House Lane, Appley Bridge,
Wigan, WN6 9DR
Tel: 01257 255521
Email info@cma-accountancy.com
web www.cma-accountancy.com
Better Decision Making – using Smart business
tools resulting in accurate reports, real time data
and higher tax savings