As some of you may be aware, from April 2019 there will be new legislation, which will require all businesses above the VAT threshold to file quarterly returns online, using a digital tax account. Preparations are starting now and the team at Busy Books are very excited about these changes, as they will make it easier for people to stay on top of their day to day accounts, enabling their businesses to operate far more efficiently.
Whilst April 2019 may seem like a world away right now, going digital is something that we recommend you start sooner rather than later as the benefits go far beyond simply being compliant with legislation. This initiative will not only save the business owner time (something that we could all use a little more of!) but it will also help them take ownership of their daily accounts by keeping track of their transactions and, in turn, reduce the stress that comes with preparing for tax return season!
If you haven’t yet started the transition to digital the first thing you will need to do is decide on an online accounting software. There are a number to choose from but we suggest that you look for one with an easy to use app so that you can manage your accounts wherever you are.
Our software of choice here at Busy Books is KashFlow and, as we are Gold Partners, if you sign up with us, we can offer you some great incentives to make your move to digital even more worthwhile. These include, FREE KashFlow software for the first year, affordable installments over 12 months for all accounting costs and unlimited software support. You can find out more about these offers here.
If the monthly payment plan is not for you and you would like to manage your own preparations for Making Tax Digital we can still offer in house software support if you sign up with us as well as offering you all the benefits of KashFlow for HALF PRICE (usually £15 plus VAT per month)
What we love about KashFlow is that it is focused on what a small business needs and is incredibly user friendly. You can enter information from anywhere using the KashFlow Go app (for IOS and Android) and easily create quotes and generate branded email invoices on the go. For regular customers it gives you the option to set up recurring invoices and simplifies credit control with automatic payment reminders, helping you get paid QUICKER.
If you would like more advice on Making Tax Digital or you would like us to set up your KashFlow account with us please contact us on 01373 229589 or firstname.lastname@example.org and let us help to make the switch easy for you.