Accounting Software
Choosing the right online accounting software is not easy with so many choices and new ones popping up every day. We decided to work with the most acclaimed, award winning and independent out there – Xero.
Making Tax Digital for VAT:
From April 2022, all VAT-registered businesses are required to follow the Making Tax Digital rules by keeping digital records and using software to submit their VAT returns.
Making Tax Digital for Income Tax
Self-employed businesses and landlords with annual business or property income above £10,000 will need to follow the rules for Making Tax Digital for Income Tax from 6 April 2024.
Making Tax Digital for Corporation Tax
The government will provide businesses with an opportunity to take part in a pilot for Making Tax Digital for Corporation Tax and will not mandate its usage before 2026.