Did you know you will have to report your tax liability quarterly and digitally?
According to HMRC here is the correct schedule of Quarterly Reporting events:
From April 2018:
All Landlords, Self-employed businesses, Partnerships and Limited Companies will have to start reporting quarterly their information digitally. The only exclusions are those with no internet access and religious grounds exemptions.
From April 2019:
ALL Vat returns are to be lodged digitally and not via the gateway.
From April 2020:
All Corporation tax returns are to be lodged digitally and not via the gateway
What does this mean for you?
Get online now – We at K Phelan and Co are big advocators of online accounting with Xero and this new quarterly reporting makes it even more important for you to do your accounting online.
Make Xero Your Hero!
If you want to discuss this and what it means to you further please contact us on ; Phone:+44 28 7135 9028