Automate your reports and accounts with our bookkeeping services.
We understand that self-employed, freelancers and business owners often have limited budgets to provide full financial support and tend to keep a lot of bookkeeping using cloud accounting systems. Now, with the launch of Making Tax Digital, there is now a greater responsibility to keep the information in the form prepared for reporting to HMRC. As Debitam, we provide custody services for your financial records and quarterly reporting for VAT refunds.
No need to worry, you can always feed your system with our accountants' information. Back up your software with our experts' experience!. We can assist you with
Maintaining your business history in the tax year is one of the main problems you will face after starting your own business. Small and medium business owners often argue with HMRC about their banking issues. If you do not declare your VAT on time (such as late registration with HMRC for VAT registration) or make a mistake in your application to HMRC, you will incur heavy fines. In order to avoid further financial problems, let us keep track of your financial information within the scope of VAT and accounting services before bad things happen.
According to HMRC circular 700/22 of 18/07/2018 for the ‘Making Tax Digital’ initiative, all businesses above the VAT threshold (£85,000 per year) must file their tax returns on software that is functionally compatible with HMRC.
HMRC is now planning to apply the MTD for self-employment tax filing for individuals with an annual turnover of more than £10,000. This means that a quarterly business report is required to help HMRC estimate its annual tax bill. However, it is the taxpayer’s responsibility to maintain accurate information.
As our guide, at Debitam we use the latest technology to provide you with the latest services, so we use MTD based software when preparing VAT returns and submitting them to HMRC. Our experts are highly knowledgeable in managing your MTD compliance. Please contact us for more information.
As our guide, at Debitam we use the latest technology to provide you with the latest services, so we use MTD based software when preparing VAT returns and submitting them to HMRC. Our experts are highly knowledgeable in managing your MTD compliance. Please contact us for more information.
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