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RDCB Accountants

PROFESSIONAL ACCOUTING

 

MAKING TAX DIGITAL

 

HMRC are pressing forward with their plans for MTD

 

The overall objective is to ensure that all businesses and rental operations maintain their accounting records on an approved digital basis (computer records) and for their accounts to be filed with HMRC on a quarterly basis.

 

When is it starting?

 

All businesses or rental operations with a turnover in excess of £85,000 (VAT registration limit) must use the new system of reporting for any VAT reporting period ending after 01/04/2019.

For most this means the quarter ending 31/03/2019 will be the last quarter to be operated under the current rules. After the 31/03/2019 the current reporting system will not be enabled.

 

It seems that HMRC would prefer to bring all other businesses and rental operations into the new system with effect from 01/04/2020. However the accountancy and small business organisations are still making representations and objections on the basis of an unfair cost effect and administrative burden on both businesses and rental operations.

 

Please treat the above as advisory but with no legal or statutory content or advice.

 

 

 

 

Services

We offer a broad spectrum of tax, accounting and consultation services. Our clientele ranges from private individuals and sole proprietors to partnerships and corporate entities across all sectors.

Taxation

 

We take into account all current tax and business factors and our services covers the entire scope of services in the field of tax consulting.

 

Our services include:

  • Income tax planning & return preparation for
    • Individuals
    • Corporations
    • Partnerships
    • Estates, trusts and gifts
  • Including
    • Income and corporate Tax planning
    • Inheritance Tax planning
    • Capital Gains Tax Planning

 

  • Complimentary Tax Fees Enquiry Scheme
  • Complimentary telephone queries and meetings

 

Accounting

 

Accounting is an essential element of any business giving you a meaningful foundation for your business decision processes. Also with the ever closer implentation of MDT it will become more and more important to have up to date accounting records.

 

Our services include:

  • Annual Accounts
  • Management Accounts
  • Budgeting and forecasting
  • VAT Returns
  • Payroll
  • Preparation of sales tax and icome tax 
  • Preparation of annual financial statements and cash basis accounting
  • Accounting setup and advice for new business

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