My apologies that this month’s article is aimed more at business users.
If you don’t own a business you probably don’t know that the government has decided that, from April 2018, they are Making Tax Digital (MTD). As a result, almost all businesses will have to make a quarterly submission to HMRC, as opposed to an annual return. This means that they need accurate and current purchase and sale records, so that they can be digitally submitted in the given timescale, or else a hefty fine will be applied.
As a company, I am sure that your accountant will have made you aware of the changes, but is your business IT ready? Accountants can help you decide between the various software packages that are available to best suit the needs of your business, but is your IT equipment man enough to handle the involved software ; is your network secure and reliable? There may be no need to buy additional equipment to run the accounting software as your existing PC may already be able to cope. It may just need a little housekeeping to ensure it is running to its optimum capability, or the addition of extra memory to run the package smoothly. Pre-Digital Tax checks are available. Just bring your equipment in to selected outlets, or request a site visit.
If you haven’t got a PC or a tablet, then pop into your local computer store who can offer you advice on, and supply you with a device that will work best with your organisation and accommodate your requirements.