Mtd

Stewart Brown Bookkeeeping Services ready to help London and the South East small businesses Make Tax Digital

VAT registered small businesses in London and the South East need to comply with HMRC’s Making Tax Digital¥, the biggest change to tax compliance in a generation and Stewart Brown Bookkeeping Services can help.

June 2019: Since 1 April 2019, all VAT-registered businesses with a turnover above £85,000 across the UK have needed to keep their financial records in a digital form and submit their VAT returns using MTD compatible software¥. This Government legislation, called Making Tax Digital (MTD), is the biggest change to tax compliance in a generation, impacting over 1.2 million small businesses in the UK – yet new research has shown that around a third (31%) still aren’t compliant*.

Today, Purley based bookkeeping and reporting firm, Stewart Brown Bookkeeping Services announces it is MTD ready and here to help VAT-registered small businesses in London and the South East through the transition quickly. By partnering with Intuit QuickBooks, makers of HMRC recognised accounting software, Stewart Brown Bookkeeping Services can make digital tax compliance easy for local VAT registered small businesses.

Stewart, business owner from Stewart Brown Bookkeeping Services said “We’ve heard small businesses in London and the South East don’t fully understand the MTD legislation, are concerned about being compliant and are worried about time spent learning new digital processes. We’ve also heard they are relying on accounting professionals to make the change. That’s why we’re delighted that by using QuickBooks, we’re ready to help small businesses in London and the South East make MTD easy for them.” 

While moving to digital taxes may seem an initial hurdle, research shows that embracing digital can help small businesses become more productive, saving time and making money through more efficient processes. A QuickBooks study^ showed that by using digital tools, small businesses in London and the South East can make productivity gains of as much as £5,700.00.

Stewart continued “MTD presents a huge opportunity for small businesses to embrace digital to grow their business. We want to work with local small businesses to encourage them to take advantage of this moment. Digital tools can help with cash flow management, getting paid faster, access to capital – all crucial factors in the success of small businesses in London and the South East.”

Many small businesses still rely on the likes of paper and Excel to manage their finances and prepare their taxes. For these businesses, MTD can represent an even greater change to their bookkeeping. That’s why Stewart Brown Bookkeeping Services is using QuickBooks Bridging Software to enable small businesses to file using spreadsheets. This is a compromise to going fully digital as the process remains easy and familiar, while adhering to HMRC’s compliance rules.


For more information about Stewart Brown Bookkeeping Services, go to 

www.stewartbrownbookkeepingservices.co.uk

For more information about QuickBooks, go to www.quickbooks.co.uk 

For more information on Making Tax Digital go to https://www.gov.uk/government/publications/making-tax-digital/overview-of-making-tax-digital


For Stewart Brown Bookkeeping Services press information:

Stewart Brown  +44(0)7568366511/ office@stewartbrownbookkeepingservices.co.uk

For QuickBooks press information:

Josh Kaye +44 (0)7810 527514 / josh.kaye@ogilvy.com

John Mayne +44 (0)7881 852375 / john_mayne@intuit.com 


Notes to editors

¥ All VAT registered businesses with a turnover above £85,000 need to be MTD compliant for their first VAT tax period starting on or after 1 April 2019

*Independent research conducted on behalf of Intuit QuickBooks by Opinium of 500 UK small businesses, April 2019

^The Productivity Payout, February 2019

About Stewart Brown Bookkeeping Services

Our mission is to empower business owners around their finances, allowing them to focus on what they do best, knowing that their accounts are taken care of.

About Intuit:

Intuit’s mission is to Power Prosperity Around the World. Our global products and platforms, including TurboTax, QuickBooks, Mint and Turbo, are designed to empower consumers, self-employed and small businesses to improve their financial lives, finding them more money with the least amount of work, while giving them complete confidence in their actions and decisions. Our innovative ecosystem of financial management solutions serves approximately 50 million customers worldwide, unleashing the power of many for the prosperity of one. Please visit us for the latest news and in-depth information about Intuit and its brands and find us on social.

www.Intuit.co.uk