VAT and Making Tax Digital
At present UK businesses entities with a taxable turnover of over £85,000 in a 12-month rolling period must register for VAT.
However, if your turnover is under £150,000, there are VAT scheme options available to you.
Connon Associates Limited can setup your voluntary or mandatory VAT registration with HMRC if required.
We can prepare and submit your VAT returns to HMRC and deal with HMRC queries and investigations. We will not miss a deadline.
We can also advise on and prepare EC Intrastat returns and EC Sales Lists.
Making Tax Digital
HMRC initiated a new system in 2019 to enables all business owners and individuals to stay up and running with their taxes right on a digital platform with more frequency of Returns Submission.
Making Tax Digital (MTD) will be incepted with step-by-step implementation of different phases where the first phase will be started with VAT registered entities from 1st April 2019 and eventually will be implemented for other taxes.
This will entail the use of third-party software. We can set your business up with XERO accounting software which is fully MTD compliant.