Accountants share their advice and experiences to help Small Businesses
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This is an MTD mini site on Business111
Two objectives:
1: to allow Accountants to compare notes, bring in other accountants also dealing with MTD, compare experiences, and share best practice.
2: to allow all Business111.com members to get answers for MTD help -
We started the MTD process early so we could get a better understanding of the complexities it will bring, both for us as a practice and for our clients. While we’ve been beta testing across various projects, the software providers and banks have worked extremely hard to put things in place so we can manage the workload coming our way.
Things continue to evolve, with features like ‘bulk submission’ in products such as FreeAgent and ‘auto-submission’ from Xero. Dext has also introduced ‘Dext Solo’, which makes it really easy for simple sole traders and CIS clients.
I think once the first year is out of the way with the £50k threshold, it will give us plenty of time to get our ducks in a row ahead of the next wave - the £30k group coming in 2027. Making VAT coterminous with MTD dates will also ease the burden of additional deadlines and workload, with the hope that VAT and MTD submissions can be done together.
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H horea moved this topic from General Discussion
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H horea moved this topic from Your Community
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Alex, I know your away for a conference at the minute but thanks for this and it would be good to get everyone's opinion on what we can do to reach the next tranche of businesses over £30,000. As you say we have time but the year will fly by. At least we'll have learned a lot by April next year. It will be great to keep the insights coming.
