As part of the Government’s ‘Making Tax Digital’ programme, from April 2019 VAT registered businesses who have a taxable turnover above the threshold limit (currently £85,000) will have to keep digital records for VAT and submit their returns to HMRC through a compatible software system.
If you don’t currently use an accounting package which allows for this change, you will need to start looking into options. Please contact us if you are uncertain about anything. We currently use Xero software for some of our clients who fall into this category and will be happy to talk to you about joining this package. Alternatively, we can offer advice on other options.
Those that are under the threshold are not affected by this change.