Making Accountancy Digital

This is my response to the new HM Revenue & Customs initiative:

“Making Tax Digital”.

Broadly speaking, the plan is to have both Limited Companies and Individuals who are in self-assessment submitting quarterly reports.

So what does this mean?

• The end of self-assessment as we know it

• Quarterly reporting for not only Limited Companies but also all individuals who are within self-assessment. Not just the self-employed and Landlords but all individuals who are currently in self-assessment.

When is this due to happen?

In typical HM Revenue & Customs style this is due to be phased in over a number of years; initially it is just VAT that is affected but watch this space for more developments.

Does “Making Tax Digital” mean that my accountancy fees will go up?

No. I have set out my fees below which can be paid on a monthly basis so that I can assist with the new reports.

My Plan

Keep things simple and make my clients’ lives as easy as possible. So, as new software gets released I will review it so that I can make recommendations to my clients and the fees will be set.

My Fees Will Be As Follows:

Notes:

* This is based on a spreadsheet being used which itemised all your income and expenses. Should I need to do additional book-keeping then I will provide you with a quote during the free initial meeting.

** This quote is based on up to 2 employees who are on a fixed amount per week/month.