As you may already be aware, HMRC has issued plans to make businesses file quarterly information with them. How individuals and businesses interact with HMRC is therefore changing.
Keeping your financial records will become increasingly digital and most businesses will need to use software or apps to keep business records – the days of manual record keeping will be over!
There are exemptions, but for most businesses with turnover above £85,000 you will need to start planning for Digital Tax now otherwise known as the Making Tax Digital (MTD) initiative.
So, what’s the good news?
Mirandus Accountants uses QuickBooks for cloud accounting software where, as one of our clients, you can:
- Get a clear view of your finances any time, any place
- Run your business from work, home or on your mobile
- QuickBooks automatically grabs bank receipts and payments in real time
- And use your mobile to photograph purchase invoices and expenses and upload these to QuickBooks directly, electronically
If you have not already done so, you can download the free Mirandus app where you can shortcut to the QuickBooks app directly and log expenses via Receipt Bank app, as well access tax calculators and tax tips and read the latest Mirandus news
Mirandus Accountants supporting local businesses in the City of London and Greater London area, providing accounting and tax services to SMEs and OMB clients and access and training on QuickBooks.
Why not give us a call to see if we can help you complete your SA this year and help you be tax efficient.
