AAT launches Making Tax Digital software providers guide
19 October 2018
AAT has launched a detailed guide to help accountants and bookkeepers prepare their clients for the first implementation phase of Making Tax Digital (MTD): the government’s plan to make it easier for individuals and businesses to get their taxes right and keep on top of their financial affairs.
The guide provides accessible answers to the key questions that are likely to arise regarding MTD for VAT. All VAT-registered entities with an annual VAT-able turnover above £85,000, the current compulsory registration threshold, will be required to keep a digital record of their VAT transactions from 1 April 2019.
Accountants will be able to find information about bridging, accounting, specialist and self-service MTD-compliant software, as well as hear stories from accountants who have taken part in the HMRC trials to date.
Andrew Williamson, AAT's Director of Marketing and Commercial, said: "It’s going to be crucial for accountants and bookkeepers preparing for the MTD roll-out to have strong engagement with their clients over the coming months to ensure they are well aware of what the new reporting requirements mean to them.
"This guide is a wide-ranging overview that will enable our professional members and the wider accounting industry to make informed decisions about software solutions that will be best for their business, and help ensure they are fully compliant in their own right."
