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Advantages of working with accountants

Advantages of working with accountants

There are lots of advantages to working with a good firm of accountants. Rising to the challenge of Making Tax Digital will be a learning curve for even the accountants themselves! So it is important business owners equip themselves with the key knowledge required to appreciate HMRC’s vision for the digital future and the scale of change facing taxpayers and their agents in this new digital environment.
1st Cloud Making Tax Digital Keyboard
Here at 1st Cloud Accountants we are already gaining advance knowledge of the background to MTD and HMRC’s digital proposed journey. To let you spend the time running your business we have already looked into the overview of HMRC’s six consultations, along with the key points from the consultation responses and draft legislation.

We are now prepared to help you understand what this will mean to you and how the new digital landscape will operate.

We are here to guide you through proposed structure for MTD and quarterly/end of year reporting requirements, the key dates for transitioning you as our client to MTD and any exemptions. MTD-Rage-Businessman-with-help-sign

For many taxpayers who may have operated without having an accountant at all, the switch away from filling in an annual Self Assessment form to quarterly reports may leave them compelled to enlist advice.

HMRC is determined that this exercise will reduce their administrative burden of collecting tax, moving closer to real-time taxation and boosting their revenues.

And perhaps most importantly, we here at 1st Cloud Accountants will guide you through the many options of software solutions that are on offer (if you do not currently have one in place).
Happy Tax Girl with 1st Cloud laptop 2

Further details to follow soon...