Making Tax Digital (MTD) – Latest news April 2019

Making Tax Digital (MTD) is the UK government’s initiative to take all tax submission online and to therefore enforce digital record keeping via computer software. Businesses with a turnover above the taxable threshold. currently £85,000 are required to keep digital accounting records.

Digital links between software for VAT are required in April 2020. This means digital links between the Optisoft Cash module and you or your agents MTD approved software, thus providing a digital audit of everything you buy and sell.

Optisoft will provide a digital link in line with MTD requirements to Sage and Xero, plus we’re also investigating links with a number of other popular accounts packages. We will be in contact with all customers to advise next steps soon, if you have any queries in the meantime, please call us on 0345 543 6101.