Ola Pietraszewicz, tax director at AP Accounting Solutions Ltd, outlines HM Revenue & Customs' plan to go digital and what you can do to prepare for the transition.
HMRC have had a series of consultations on how they intend to deliver 'Making Tax Digital'. From April 2018, all but the very smallest of unincorporated businesses and landlords (turnover less than £10,000) will be required by law to keep their records on accounts software.
Many people already do that – but there will be an additional requirement in that, the software must be capable of sending information to HMRC every three months.
At the moment HMRC are not going to ask tax payers to make quarterly payments unless they choose to do so voluntarily.
What action do you need to take now?
You will need to think about making arrangements for your accounting records so that they are ready for digital submission. This may be by simply contacting your current accounting software supplier to ensure your software is up to date.
Suppliers are starting to release information about these changes now, so don’t delay. If you are not sure how you will make the submissions to HMRC or you don’t currently use any form of accounting package, please contact us to discuss your options.
The wait is now on to hear of the findings of the HMRC consultation and how this will work in practice. There are lots of questions to be answered and details to be ironed out. But Making Tax Digital is coming, so do watch this space for further information.
Each month, Ola and the team provide me with a speedy response to my payroll request. Not only do they generally run our payroll, they also offer additional advice and support when dealing with payroll, holiday, commission and sickness queries. Nice to have a direct dial to someone who is always on the other end and happy to help
As a small construction company Ola, the director of AP Accounting Solutions has been the perfect find for all of our accounting needs, business advice and support. Ola has not only provided us with great service she is always there for us to help with our needs. Any enquiries or concerns are swiftly dealt with and the support offered is second to none. I couldn't recommend Ola enough as the perfect support for your business she is very helpful and a lovely lady to work with and with a professional manner, I can say with confidence that I know our accounts are safe at hand which helps to take some of the stress away from us.
"We needed a system that used foreign currencies and Ola worked closely with us to determine our needs and match the product. Sage 50 was introduced as a suitable platform and one for which AP Accounting Solutions could provide beneficial support. The support pre, during and post installation has been a hassle-free migration that has saved us money. Well done and thanks. Very professional and friendly team who are always on hand and ready to help out".
We have worked with AP Accounting Solutions for the past 2 years and particularly value their pro-active style of suggesting ideas and solutions regarding the accounting of our businesses. It is refreshing to find a firm of accountants that not only offer a personal service, but that also have extensive expertise in different areas including specialist taxation and solid back office support. They are extremely efficient.
"We have been working with Ola and her team for two years. They provide us with expert advice in relation to our annual accounts, tax and VAT. The team at AP Accounting Solutions are very professional, and always give clear advice and guidance in a prompt and efficient manner. We would not hesitate to recommend their services"
The support, advice and help that we have received from AP Accounting Solutions has been outstanding. Last year we took on Sage which was a big step for us but the process was made so much easier knowing that Ola was there to guide us in the right direction. The best thing about AP Accounting Solutions is that you can always contact them, no matter what time or day it is, which is something you can't get from most accountancy companies.
For years I had an accountant who simply terrified me. I knew little about the intricacies of accountancy and I felt he used that as his advantage against me. After many sleepless nights I moved my business two years ago to AP Accounting Services because they were recommended to me by a friend in a similar business. I met with Ola who explained my tax situation in a very understandable way. I find all of their staff extremely professional, very approachable and above all feel that they understand my needs as a businesswoman. I cannot recommend their services enough. So if you want to get on with the business of business and 'leave the sums' to the friendly professionals use AP Accounting Solutions Services for all of your accounting needs.
AP Accounting Solutions have been providing book keeping and management accounts services for our group of companies for the past two years and I would thoroughly recommend them. Ola is able to deal with the complex inter company relationships that a group structure creates due to her extensive accountancy knowledge.
Since we appointed AP Accounting Solutions we have been nothing but impressed with the service they have provided. Ola and the team immediately identified an overpayment in tax, which had been missed by other accountants, and secured us a rebate to the tune of more than £4,000. Beyond the day-to-day management of AP Accounting Solutions accounts, AP Accounting Solutions provide us with solid financial planning advice, which to a business of our size in invaluable. We are delighted by the quality of service we continue to receive from AP Accounting Solutions. This is an accountancy firm really committed to saving the client money! We get the care and attention we did not get from our previous accountant.
As a new client we could not recommend AP Accounting Solutions more highly. We have found their service to be professional, efficient, prompt and friendly and look forward to working together for many years to come. Ola always finds time, always, available seven days a week... Stellar advice with a genuine personal touch. Their personal service is what makes them stand out from other accountants.
I sincerely recommend the accounting services run by Ola. I do have a comparison of services of other accounting companies. Ola carried out the accounts of my company in professional and timely manner. She also possesses the necessary knowledge and experience in running accounting services for businesses. I used her services and I am very pleased with the cooperation which is why I decided to share my opinion here.
HMRC A1 Form 29 Dec 2023
Charging your electric company car at home 19 Dec 2023
Two new R&D forms 19 Dec 2023
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