What happens if I want to use cloud accounting?

With the Government’s flagship Making Tax Digital (MTD) regime now in place, more and more businesses are looking at cloud accounting software to help them get to grips with managing their tax and financial information online.

If your business is VAT-registered and you have an annual turnover of £85,000 or more, you are now required to submit quarterly digital VAT returns to HM Revenue & Customs (HMRC). Most businesses are using cloud-based software to do this.

Since the introduction of MTD, businesses now need to ensure that all of their relevant tax and financial information has been migrated online via an MTD-friendly software package, which will enable them to communicate with HMRC when it comes to submitting tax information.

Other forms of taxation, such as Income Tax and Corporation Tax, are now expected to follow on from the requirements for VAT from April 2021 at the earliest.

The multiple benefits of cloud accounting software

Connect from anywhere

Connect anytime, anywhere, and on any device.

Total transparency

Check what’s come in, and what’s gone out with real-time updates on invoices and outgoings.

Collaborate in real-time

Work, create, and share in real-time with colleagues or an expert at Rotherham Taylor.

Smart and organised

Easy-to-use online dashboards keep your records, invoices, bills and reports in one secure location.

Security is a number one priority

Bank-level security and 24/7 customer support from the software provider.

Software that suits you

We only use software that suits you. We can advise on the most suitable software based on your needs and preferences.

How can Rotherham Taylor help?

If you need help with cloud accounting software, look no further. At Rotherham Taylor, our team can help you to choose the right cloud accounting software package to suit your business and we can also support you with the transition to MTD.