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Excel vs QuickBooks
Making Tax Digital
QuickBooks online - accounts
Staying on top of changes to tax regulations is crucial. Getting the right software in place and preparing ahead of time makes filing your returns and paying your taxes quick and easy, helping to manage finances so your cash flow isn't impacted.
You can also avoid potential costly penatlies for non-compliance.
By now you know about Making Tax Digital (MTD). It's HMRC's biggest change to the tax system for decades, aiming to take the whole operation into the digital sphere in the next few years.
MTD for VAT rolled out for businesses with annual turnover above £85,000 from April 2019 and extended to all VAT-registered businesses, regardless of turnover, from April 2022.
So what's next? MTD for Income Tax. It's set to make significant changes to how some of those registered for Self Assessment file their taxes. If this includes you, consider yourself sorted. This handy guide covers everything you need to know...
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