Cheltenham
7 Rockfield Business Park, Old Station Drive,
Leckhampton, Cheltenham, GL53 0AN
01242 679 099
Seamlessly transition to HMRC's digital tax system. We provide the software, training, and support to ensure your business remains compliant and efficient.
Making Tax Digital is a key part of the government's plan to make it easier for individuals and businesses to get their tax right and keep on top of their affairs. It fundamentally changes how businesses maintain records and report to HMRC.
Whether you are preparing for MTD for Income Tax Self Assessment (ITSA) or ensuring your VAT processes remain compliant, our team is here to guide you through the transition without disrupting your day-to-day operations.
The introduction of MTD for Income Tax is being phased in based on total self-employment and property income:
Income over £50,000
For individuals with qualifying income above this threshold.
Income over £30,000
The threshold lowers to bring more individuals into the digital system.
Income over £20,000
The final planned threshold for the initial rollout phase.
These thresholds are based on total relevant income before expenses.
Matching the right HMRC-recognised software to your business needs.
Safely transferring your data to new digital accounting platforms.
Managing the new frequency of digital submissions to HMRC.
Ensuring you never miss a deadline or fall foul of new regulations.
The transition to Making Tax Digital introduces three fundamental changes to how you manage and report your business finances.
Paper records will no longer meet HMRC requirements. All business transactions must be recorded digitally using compatible accounting software or spreadsheets linked by API bridges.
Instead of a single annual tax return, you will need to send a summary of your business income and expenses to HMRC every three months directly through your software.
At the end of your accounting year, you will submit an End of Period Statement (EOPS) and a final declaration to tie everything together, claim reliefs, and finalise your tax position.
While Making Tax Digital is a mandatory compliance change, it presents a fantastic opportunity to modernise your business. Moving to digital records shouldn't just be about keeping HMRC happy.
By embracing cloud accounting software as part of your MTD transition, you unlock real-time financial insights, automate tedious data entry, and gain a clearer, up-to-the-minute view of your business performance.
We help clients move to Xero, from setup and data transfer to staff training.
Expert assistance with VAT registration, returns, and compliance, ensuring you never pay more than necessary.
Prepare for MTD for Income Tax Self Assessment (ITSA) with our expert personal tax support.
Everything you need to know about working with Kingscott Dix, from scope and pricing to timelines and compliance.
Whether you're looking for a new accountant, planning ahead for the next generation, or simply want a second opinion, we'd be glad to hear from you. Initial meetings are always at our cost, not yours.