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Making Tax Digital with Accounted For

Transform Your Accounting with Our Expert Services

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In today’s fast-paced digital world, staying ahead of tax regulations and accounting practices is crucial.

At Accounted For, our accountant team offer customers comprehensive consultancy and implementation services tailored for businesses striving to excel in corporation tax, in the era of Making Tax Digital (MTD).

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What Is Making Tax Digital(MTD)?

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Making Tax Digital is a UK government initiative to transform the tax system and make it more effective, efficient and easier for taxpayers.

Tax Digital

The goal of MTD is to create an integrated digital tax system that enables businesses, individuals and HM Revenue & Customs (HMRC) to communicate digitally.

MTD Laws and Regulations

Under MTD, businesses are required to keep digital records of their tax information and submit quarterly summaries of their income and expenses to HMRC using approved accounting software.

Digital Record Keeping

This means that the traditional current system of paper-based tax returns will no longer be accepted.

The MTD initiative also requires businesses to use compatible digital software when submitting their VAT returns.

This change was implemented in April 2019 for VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000).

Why Choose Accounted For?

We’ve been at the forefront of MTD and cloud-based accounting well before they became industry standards. Here’s what sets us apart:

  • Pioneers in Cloud Accounting: We were among the first accountancy firms to transition our clients to online platforms, ensuring a seamless shift to digital accounting.
  • Expertise Across Platforms: Our team is proficient in a vast array of online, cloud-based solutions, making us your ideal partner in finding the perfect mix of software and systems for your needs.

Our Comprehensive Services

Cloud-Based Accounts MTD Compatible Software

Move your accounts online with ease. We help you select and implement the best cloud-based MTD compatible software tailored to your business.

Automatic Bank Feeds

Streamline your banking operations by automating bank feeds, ensuring real-time accuracy and efficiency.

Automate Data Entry

Say goodbye to tedious data entry. Our solutions allow you to automate data entry using pictures and photos, saving you time and reducing errors.

Invoices & Fee Collection

Automate your invoicing process and fee collection with our innovative solutions, the key to ensuring timely payments and improved cash flow for annual business.

Credit Control & Payroll

Enhance your financial management with automated credit control and streamlined payroll systems that work effortlessly for you.

Real-Time & Management Accounts

Gain instant insights into key part of your business performance with real-time accounts and detailed management reports, all integrated seamlessly into your operations.

System Integration & Training

Ensure all your systems work harmoniously, and empower your team with training and support to leverage these tools effectively.

Income Tax Returns

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We also offer expert assistance in navigating taxes and complying with the latest income tax regulations, ensuring you stay on top of your tax obligations.

Income Tax Self-Assessment

Partner with us to handle all your tax affairs – from using tax digital for income tax self-assessment needs, from initial registration to doing tax right submitting returns and everything in between.

Tax Planning & Advice

Our experienced team provides comprehensive tax planning and advice services tailored to your business, ensuring you make the most of the available tax reliefs and exemptions within the tax system.

Save Time and Money

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Our services aren’t just about making your accounting processes more efficient—they’re about delivering measurable savings in both time and money.

Accounting Adjustments

  • Transitioning to Digital Accounting: Whether you’re just starting or looking to upgrade your existing systems, we can seamlessly move your accounts online.
  • Choosing the Best Software for Your Business: With so many options available, it can be overwhelming to select the right software for your business. Our team has extensive experience in various cloud-based solutions and can guide you towards the most suitable one for your needs.
  • Streamlining Your Financial Processes: Our services go beyond just accounting; we also offer solutions to automate and streamline your financial processes, increasing efficiency and reducing errors.
  • Expert Tax Planning and Compliance: We stay up-to-date with the latest tax regulations to provide you with expert advice and ensure your compliance with all tax obligations.

Interested in transforming your accounting practices?

Call us today for a free consultation at 02920 498 800 and discover how Accounted For accountants can revolutionise the way you manage your accounts.