The 1st April has gone, Making Tax Digital is up and running and the sun still shines!
Although MTD applies to VAT periods starting after the 1st April it is estimated that in excess of 50% of SME’s either know nothing or little about it .Of those that are aware some are sufficiently worried to consider either closing or selling their businesses.
There have been numerous articles about MTD. Most of these have been high on theory , heavy on dire warnings but short on practical advice. The quality of information provided by HMRC has arguably been lacking. Many accountants have not provided or offered adequate help and support to their clients. No wonder that many SME’s are left floundering when they are trying to getting to grips with the implications of Brexit.
The good news is that for most the 7th August is the first Vat return date under the new arrangements. There is still time to do bring knowledge and systems into line . HW Associates has several solutions to help you.
Do you know where you stand with your obligations under Vat MTD ? We offer reassurance with our agreed price review service. We tell you what you need to do to become compliant and to improve your efficiency in complying.
Perhaps you know what to do but don’t have the time, resource or inclination to deal with it? We can administer your Vat at an agreed competitive price.
Maybe you have decided that the introduction of MTD is an indication that you should outsource the entirety of your accounting function to a competent, trustworthy, advisory driven firm of Chartered Accountants? Speak to us about our fully integrated packages.These cover bookkeeping , online and traditional, payroll, Vat, taxation ,management and statutory accounts production and above all relevant advice.
Please contact Mark Hjertzen (markh@hw-associates.co.uk), Alison Rickels (alisonr@hw-associates.co.uk) or Usha Duggal (ushad@hw-associates.co.uk) for an initial view of how we can help ? Our telephone number is 01462 420042.
If tax digitalisation or any of the other challenges currently facing SME’s has made you consider either ceasing business or selling it makes sense to take advice as early as possible. Delay and failure to plan can be expensive ! We look forward to helping. Please speak to Mark Hjertzen or Sue Watson (suew@hw-associates.co.uk).
HW Associates, Chartered Accountants and SME Business Advisors offer a full range of problem solving services to owner managed businesses in Hertfordshire, Bedfordshire and elsewhere in the UK .