HMRC planned to force even very small businesses and sole traders to start quarterly reporting from April 2018.  However, changes at the Treasury after the election seem to have resulted in a more sensible approach to the whole Making Tax Digital debacle.

All those below the VAT threshold (currently £85,000) will now be exempt from requirements to quarterly report until the government can reassess the plans.

Vociferous opposition to the rollout timetable from MPs, business and the influential Treasury Committee has resulted in the climbdown.

There will be a one-year delay for the wider rollout, with an April 2019 start date for businesses with a turnover above the VAT threshold to start keeping digital records but only for VAT purposes.

Full-blown quarterly reporting will not start before ‘at least 2020’ according to the ministerial statement.

Testimonials

Total Accounting have taken a great weight off my shoulders by sorting out the mess due to non-submission of tax returns for a number of years . They even managed to get large rebate in the process and since then ensure my liability is kept to an absolute minimum. Very informal and pleasant as well as efficient and professional

Tony Green - | Cramlington

I was very happy with the fast and efficient response and service that I received from this company.
I was appointed an executor to a very complicated last will and testament, I also found that I needed professional advice quickly to sort out a big financial dispute between two other estates that had bequeathed money to charities and also to the deceased estate that I was appointed to look after. 
The main problem was that the amounts of money had been bequeathed using different methods to calculate percentages to third parties. 
I felt very lost. 
With this companies help I also found out that financial irregularities had occurred, I could not have work this out by myself.
Fortunately I got the financial help and advice I needed alongside easy to understand answers to my questions from this company, 
With their help I now have managed to sorted out the all the complicated problems of money transferring between different people in a series of wills accurately.
I can recommend them, and I would happily go back to them if I were needing any financial accounting in the future.

Robert E Etherington - | Sunderland

Total accounting are given all our invoices and receipts, and they do everything. This saves all the work we used to do ourselves. Not only that, but they also look after our wages as well as providing assistance and advice throughout the year, all included in the charge. By following their suggestions, we have also made savings in our tax liability. As a small business their expertise and support is really appreciated.

Ian Clarke - Ian Clarke Gardening Services | Newcastle upon Tyne

Total Accounting have dealt with my accountancy and tax affairs since starting as a self-employed counsellor about 5 years ago.

 Advice and service received has been fantastic’ and yet the fees are very reasonable.

 Highly recommended.

Maggie Hallam - | Washington

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