Making Tax Digital: Why bookkeepers are more important now than ever before!

With technology moving at a faster pace than ever before, even the accountancy industry, that is renowned for being stagnant, is on the move as well.

HM Revenue & Customs are looking to shake things up, in a bid to make the UK’s tax system the most advanced in the world, by improving the efficiency and effectiveness of the compliance by UK tax payers.

With the pilot scheme being rolled out this year, business with a turnover in excess of £83,000 are due to comply next year, and business with a turnover of £10,000 to £83,000 the following year in 2020.

So what’s new? No longer will there be a mad rush to submit your figures for the prior tax year by the following 31 January. Instead, the requirement will be to submit your figures quarterly.

The idea is, to make it simpler for business owners, to submit their financials via software, directly to HMRC’s website. Easier must mean they won’t need an accountant or bookkeeper, right? WRONG!

In our opinion, the value of a top quality bookkeeper has never been do high. If you can have your records constantly up to date, and in good order, your tax submission will be a breeze. Failure to do this, could lead to multiple inaccurate lodgements, and therefore this could trigger unwanted attention for HMRC.

Here at Cloud 9, we are ready for Making Tax Digital, and we want to make sure all our clients make the transition as smoothly as possible. To find out more about how we can help you and your business, please drop us an email at This email address is being protected from spambots. You need JavaScript enabled to view it. and we would be happy to guide you through the process.

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