How VAT-registered businesses declare their quarterly VAT returns will change with effect from VAT periods starting 1st April 2019 or after, which gives you less than a month to ensure that you are using software to record your bookkeeping that is compatible with HMRC.
If your turnover is over the VAT threshold of £85,000, your business will need to submit all VAT returns for periods starting from 1st April 2019 via an online software submission. This means that if your current VAT period ended 31st March 2019, you can still submit in the normal way logging in to your Government Gateway, but for any VAT periods starting on or after 1st April 2019 you will need to submit your VAT return via HMRC compatible software.
If you haven’t already done so, check with your software provider if you need to download an update to make it compatible – and if you don’t currently use software to record all transactions in and out of your business, now is the time to decide whether you want to buy a software package yourself, or perhaps look to outsource this work to a third party if your time could be better used.
Arthey Associates use MoneyManager bookkeeping software to record all transactions for our clients, and our software is updated for HMRC compatibility. We are full members of ICB and IAgSA and are registered as HMRC Agents. We are also fully trained on Xero, Zoho and QuickBooks software if your business already has one of those in place but you would like to pass the administration of this on to a local expert.
We can handle your VAT returns and all bookkeeping from our Northamptonshire offices in Oundle, taking control of an often monotonous but necessary business task and freeing you up to focus on your business growth and other goals.
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