Are cashflow concerns driving the uptake of digital tax technologies?

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It’s become more pressing for your business ‘to do more with less’, the pressures businesses have been under to preserve cash flow to survive the pandemic has driven the need to digitise certain processes. Technology allows businesses to be more agile and benefit from lower costs, the pandemic has highlighted the inefficiencies with manual processes.

Making Tax Digital (MTD) was the orginal initiative, HMRC will continue to push for digitalisation, it reduces errors, reduces penalties for the business, and of course HMRC get the tax due on time.

MTD for VAT digital link deadline has been pushed back to April 2021, what defines a digital link?

 Data is transferred electronically between software programs, products, or applications.
 The transfer is automated.
Use the extension to make sure your business is fully compliant with MTD for VAT; the more of your accounting practises you can automate the more resources you can free up!
Do you need to overhaul your accounting practises?

#xerogoldpartner #automation #MTD #VAT

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