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Advantage of starting now rather than last minute

Advantage of starting now rather than last minute

It is important that you prepare as soon as you can ahead of the introduction of the governments proposals. Doing so can give your business advantages not only over your competitors but help you avoid the problems you may be confronted with.  We will also keep you up to date with the solutions we here at 1st Cloud Accountants can provide.

1st Cloud Making Tax Digital KeyboardThe speed at which HMRC intends to implement its Making Tax Digital plan could come as a shock to some firms. In this section we will outline how our clients can make it a benefit rather than a botched job

There are growing fears of an IT meltdown, which will make previous HMRC computing issues, such as those over tax credits and on-line filing, look like petty glitches. The biggest challenge will be allowing enough time to get everything in place ahead of MTD going live. An early decision needs to be the choice of software.

There will be cost associated with MTD so business owners should seek to maximise the benefits of the change. Businesses already using digital records will find the process easier to adapt to the MTD process than those that are not.Shocked Girl at PC

For those firms willing and able to adapt, there could be a profitable place in MTD’s brave new world.

 

We will be updating this page again soon with more info.

 

We are aiming to help our clients by forewarning them about the problems and horror stories they will face.

One scenario we anticipate is that many agents (Accountants) may increase their fees as demand outstrips supply as the deadlines come and go and HMRC are likely to take a hardened position on taxpayers who haven't made any effort to adapt.

I would like to avoid this, please contact me soon click here to arrange a free no obligation chat.

 

 

We will shortly be providing a range of solutions you can learn more

about by clicking the links below.Happy Tax Girl with 1st Cloud laptop 2

More solutions on this topic to follow soon. Please log on again.