MAKING TAX DIGITAL – Government Regulations From 1st April 2019


Government Regulations From 1st April 2019

Here at Hammersmith Chartered Accountants we will keep you up to do with all the relevant tax regulations that may concern your bookkeeping. We see this as a duty of care to our clients. Some time ago the government passed statutory regulation under the finance act which included the new “ Making Tax Digital “ regulations that are mandatory for all vat registered businesses from 1st April 2019.

Whilst “bridging software” is approved by HMRC that allows existing spreadsheets to be submitted via this software the common assumption is that this will be phased out over the next few years as HMRC is looking for more transparent audit trails.

This means that your vat return must be prepared and filed by HMRC approved software and that it will no longer be possible to file your company vat return using the HMRC website. You may ask how this will affect you and your business. The major affect is that the bookkeeping and vat return must be prepared with specialist software that is recommended and authorised by HMRC.

Our preferred software package is Quickbooks which we believe offers our clients the most comprehensive bookkeeping package. Hammersmith Chartered Accountants staff are all Quickbooks Pro-Advisors and receive regular and full training to keep up to date with the changes that Quickbooks introduces to its software at all times.

As well as Quickbooks we also have staff that are Sage qualified and Xero Certified bookkeepers and we can adapt to these software suppliers if this is your choice of software. All our fees are for each type of software and we include the cost of the software.