If you are a landlord or self-employed, are you ready for MTD? Do not worry if you aren’t because you are not alone.
MTD and ITSA stands for “making tax digital for income tax self-assessment” and you may be hearing this term a lot at the moment. This applies to all individuals who have an annual income that exceeds £10kin a tax year and is mandatory from April 2024.
So why not get started on the change over now and prepare for the big change. Remember you will not be able to submit your own self-assessment to HMRC without appropriate software after April 2024 and time is pushing on.
Many are worried about the extra cost of purchasing software and how to use it but don’t worry! We can help you.
Did you know that you can get a free business bank account, for life, with Mettle (by NatWest). With this free banking you also get free accounting software called Freeagent. So, if you are looking for a suitable software, just open a business account with Mettle and get it all for free!
Once you get the software you may need someone to administer the bookkeeping of your software and that is where we can help you. Arendelle Bookkeeping and Administration are fully approved partners of Freeagent, and we can look after everything from invoicing to bank reconciliation, to purchase ledger, to payroll, to monthly accounts to annual HMRC submissions, all at an affordable price to you.
Give us a call today on 01509 735173 and we will talk you through the steps you need to take to ensure you are MTD ready with no obligation to use our services.
Heather
Arendelle Bookkeeping & Administration