Starting 1st April 2019 HMRC are taking a major step in the way that VAT-registered businesses file tax. All VAT-registered businesses that meet the VAT threshold will be required to use the new Making Tax Digital service to keep records digitally and must use compliant software to submit their VAT returns.
How will this affect my business?
Well the truth is it may not affect your business a great deal as long as you are using a software that is compatible with the Making Tax Digital service. You can check if your software is compliant using this tool for the HMRC website https://www.tax.service.gov.uk/making-tax-digital-software
My software isn’t compatible, what should I do?
If your software isn’t compatible with the Making Tax Digital service, then don’t panic we can help. Our speciality is migrating your existing data and into an accounting solution that is right for you. We also offer training and support to maximise your new software venture. There are several compatible accounting applications, we recommend Sage Accounts or Xero for small to medium businesses depending on their specific requirements
How do I switch?
Migrating data from any accounts software system to another is no easy task and best left to the experts. Due to the sensitive and important data stored in such software it can be harmful to your business with the risk of losing or corrupting the data making it unusable if handled incorrectly, the effects of which on your business would be devastating.
Motech Solutions have over 10 years’ experience in dealing with a range of accounting software including Sage, Xero, Kashflow, Quickbooks and even excel based spreadsheets and can offer an expert migration service giving you the peace of mind you need knowing that your data migration is in safe hands. Call or email us today to get more information on our accountancy software migration services.