HM Revenue & Customs are in the process of rolling out Making Tax Digital.
Making Tax Digital is where certain businesses are required to use digital accounting software to submit various documents to HMRC.
Currently, if a business is VAT registered, then they must use digital accounting software to prepare and submit their VAT returns.
Making Tax Digital for Income Tax is currently expected to start on 6th April 2026 for any business or landlord with turnover / sales over £50,000 a year. If you fall into this category, then you will be required to use digital accounting software.
If your turnover / sales are above £30,000 but not over £50,000, then you will be required to use digital accounting software from April 2027.
There are numerous digital accounting software providers on the market, and it can be confusing to know what is best and what is required.
We are Xero and Quickbooks certified advisers and are authorised to sell their licences to clients of Online Bookkeeping Solutions. We can advise on the best licence for you and give you options to choose from.
We also have clients who use Sage, Freeagent and many others.
Require more information?
If you would like more information or would like to speak to us direct then call us on 01324 442030. Or if you would prefer, ask us a question online.