What is Making Tax Digital?
Making Tax Digital (MTD) is a UK government initiative designed to make the UK tax system more effective, efficient, and easier for taxpayers through the implementation of a fully digitalised tax system by 2020.
From April 2019, if you are VAT registered with £85k+ of vatable sales, you must be MTD compliant. You will be required to keep digital records and submit VAT returns quarterly using compatible accounting software.
We take a fresh modern approach to accounting, so that’s why we are a 100% cloud based firm with an ‘Online Only’ policy. We are experts in using powerful and efficient cloud based tools to provide real-time business information to our clients.
What do we do differently?
Crystal clear communication. Every GrowFactor MTD client is given a dedicated account manager who works tirelessly to ensure we meet all deadlines and keep you informed at all stages of the journey.
We ask a lot of questions. The more we know about you and your business the more effective we’ll be, and as our team are certified in the most dynamic accounting software, we know the questions to ask.
Accredited Software Partners. As trusted partners with some of the world's leading business performance software providers, we will help you unlock your business potential.
Holistic solution: We’ll map out your growth plan, and track your performance, to help you to take control of your numbers and ensure you choose the right accounting software to help meet your business goals.
Proven experience. We’ve successfully converted all offline platforms to online, from Sage and QB Desktop to your traditional spreadsheet, with powerful tools to ensure your data is not lost in transition.
Whilst we’re confident you'll find the move to the cloud revolutionary for your business, we understand that MTD can seem daunting. However, once set up you can expect to benefit from:
- A fully MTD compliant business with no fines for non-compliance
- Real-time financial information
- Expense tracking facilities to spot any unnecessary subscriptions
- Simplified invoice and receipt processing
- Quick decision-making abilities
- Reliable business forecasts to help obtain cash for development
- More time to spend on growing your business