Get ready for Making Tax Digital with Fresh Financials and Xero

Making Tax Digital (MTD) will become mandatory from 1 April 2019, beginning with MTD for VAT. If you’re not yet ready for MTD, you still have time. We recommend switching to a cloud accounting software, such as Xero, as soon as possible.

Making tax digital with Fresh Financials and xero

Who is affected on 1 April 2019?

All UK businesses that are VAT registered and above the £85,000 VAT threshold will be required to keep their records digitally and submit VAT returns to HMRC using MTD-compatible software. Other areas of MTD, such as Income tax and Corporation tax, have been put on hold until 2020 at the earliest. Businesses will no longer be able to submit via the HMRC Government Gateway.

Why choose Xero for MTD?

In compliance with MTD, you need to move your accounts from desktop software or spreadsheets, and onto a cloud accounting platform such as Xero, the UK’s leading online accounting software. We recommend Xero for MTD as it’s easy to use, fully secure, and completely compatible with Making Tax Digital. Everything will be streamlined and synced, and you’ll be able to submit quarterly VAT returns direct to HMRC from within the software.

You’ll also enjoy access to real-time financials and game-changing reports from anywhere, and at any time, thanks to its range of smartphone apps.

How can we help you?

As Xero Gold Partners, we know the software inside out. We can set up and customise Xero so that you’re prepared for the Making Tax Digital deadline. We also offer support and training along the way to help you make the most of accounting on the cloud.

At Fresh Financials, we’re more than ready for MTD – we want to make sure you are too.

Have a look at our Making Tax Digital page to find out how you can get prepared with Fresh Financials and Xero