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Making Tax Digital

 

Don’t worry about the introduction of Making Tax Digital, we can help you. Below are answers to some frequently asked questions but if you require any further information or support please call us directly on 01233 849 099.

 

WHAT IS MAKING TAX DIGITAL?

 

Making Tax Digital is a government reform replacing annual tax returns with quarterly reporting. 

 

WHO DOES MAKING TAX DIGITAL APPLY TO?

 

Although there are exceptions, it applies to most businesses, self-employed people and landlords, as well as individual taxpayers.

 

HOW DOES IT WORK?

 

Through a digital account:

 

Tracks your business’s tax affairs and liabilities.

HMRC collect and process your tax information close to real time.

You’ll no longer have to wait until the end of the tax year to know how much tax you owe.

 

WHAT DOES THIS MEAN?

Individual Taxpayer

  • no more tax returns
  • ability to pay tax during the year
  • upload or update your tax account in real time
  • all of your tax information in one place

Small Businesses

  • all of your tax information in one place
  • no separate notifications of change of address or other details
  • easy payment process
  • less direct contact with HMRC

HMRC

  • end of the tax return 
  • more efficient interaction with taxpayers 
  • support for taxpayers to “get it right first time”
  • “Customer Golden Record” – all of the information about a business or individual in one place

 

 

For help, please call us on 01223 849 099.

 

 

What our clients say

When you start a business the first months are crucial and BCS helped us set up a formal structure that gave us a solid base on which to grow.  We now use BCS for all the elements of running the business: accounts, payroll and Companies House filings.   It frees us up to focus on what we’re good at: developing and delivering advanced technology to our customers.

Guy Newcombe, CEO

ARCHIPELAGO TECHNOLOGY GROUP LTD

For the life of my independent company since start up - over many years BCS have provided impeccable service in supporting my financial planning, accounting and management. They have also assisted with a number of start-ups and charitable organisations I have been involved with. Always very responsive, understanding and great for advice as well as solid services. Recommended without reservation.

Prof Alan Barrell

CAMBRIDGE WORLDWIDE ASSOCIATES

We have had the pleasure of working with BCS since Clean Cut Media was founded in 2011.  Initially, the team at BCS implemented and managed our payroll services.  As our company grew, they trained us in this area.  The care and consideration that was taken to do this was unsurpassed.  Our ongoing relationship with BCS involves, amongst other things, accounts and all responsibilities relating to Companies House.  It gives us peace of mind knowing that BCS have got this area of the business covered. 

Martin Lane, co-Founder

CLEAN CUT MEDIA LTD