Making Tax Digital Cornwall
Making Tax Digital is HMRC's initiative to become one of the most digitally advanced tax administrations in the world. It is seen as being more effective and efficient.
It won't just apply to VAT registered business, this will eventually be rolled out to everyone. In real terms this means you need a recognized form of software that communicates with HMRC. If you are VAT registered you should have signed up to Making Tax Digital by now and be looking at making returns via digitally compatible software.
At the moment the roll out to all businesses, whether you are VAT registered or not will be 2020.
So what do you have to do? We would suggest that even if you aren't registered you switch to recognised software, sooner then later. This gives you time to get used to it and stops a panic as the deadline draws closer.
If you are worried about the process or would like some help please get in touch. We are a friendly bookkeeping service based in Redruth and work with businesses in Redruth, Camborne, Truro and other areas of Cornwall.