The easy transition to Making Tax Digital

Category: EQ AccountingMaking Tax Digital - Posted On: Jun 11 2019


Following on from our previous article discussing bridging software, we have provided a detailed example of how bridging software can help with your Making Tax Digital (MTD) submissions below.

We have a client who was using a manual cashbook to process their monthly VAT Return for their farm, and discussed the implications of MTD for their business. We reviewed the options available, involving learning the clients processing procedures and understanding their style of working. We discussed the various record keeping options with the client ranging from outsourcing their bookkeeping to us, to the client maintaining their records on accounting software. As a result of these discussions, we set up a spreadsheet for our client to maintain their ongoing books and records.

This solution, combined with our bridging software, will allow our client to be compliant with the requirements of the MTD for VAT. The spreadsheet was designed to resemble the client’s old manual cashbook, in order to keep to similar layout that the client could easily relate to, meaning that while we implement changes to our clients process and records to comply with MTD, it should still be familiar to them so that they can follow what is needed from them.

With our personalised approach, each of our clients receives the best solution to their record keeping requirements. If you would like to find out more about how our EQ Accounting team can help your business, please use the details below.

Email: info@eqaccounting.co.uk

Tel: Dundee – 01382 312140 / Forfar – 01307 474274