Her Majesty’s Revenue and Customs (HMRC) has issued plans to make businesses file quarterly information with them. How individuals and businesses interact with HMRC is changing.
Keeping your financial records will become increasingly digital and most businesses, the self-employed and landlords will need to use software or apps to keep business records – the days of manual record keeping will be over!
There are exemptions, but for most businesses with turnover above £10,000 you will need to start planning for Digital Tax now.
So, what’s the good news?
We’ve teamed up with a major Cloud software company to provide our clients with the best possible fully compliant accounts package, and there are significant benefits to your business if you use our recommended package:
- It’s on the cloud so you can get a clear view of your finances any time any place;
- You will never need to do back- ups of your accounting software ever again;
- Run your business from work, home or on your mobile;
- It automatically grabs bank receipts and payments in real time;
- Use your mobile to photograph purchase invoices and expenses and upload these to the software; and
- Automatically generate and submit VAT returns and other reports with one click!
Just suppose you could see your results, who owes you money, who you owe and your business bank balance 24/7 from your smart phone!
Over the next few months we will be contacting all our clients to discuss the new HMRC rules and to demo how easy the new system is. In the mean- time, if you are “Good to go”, call us and we will be delighted to help you comply with Digital tax and streamline take your business to a whole new level.
|19 April||Final RTI submission to be made to HMRC for the year to 5 April 2017.|
PAYE & NIC deductions, and CIS return and tax, for month to 5/4/17 (due 22 April if you pay electronically);
|30 April||Corporation tax return for year to 30/04/2016 due.|
|01 May||Corporation tax payment for year to 31/7/16 (unless quarterly instalments apply)|
|19 May||PAYE & NIC deductions, and CIS return and tax, for month to 5/5/17 (due 22 May if you pay electronically|
|31 May||Corporation tax return for year to 31/5/2016 due|
|01 June||Corporation tax payment for year to 31/8/2016 (unless quarterly instalments apply)|
|19 June||PAYE & NIC deductions, and CIS return and tax, for month to 5/6/17 (due 22 June if you pay electronically)|
|30 June||Corporation tax return for year to 30/6/2016 due.|