Making tax digital

As of the April 2019 HMRC require businesses to use digital software to complete and file your VAT returns. There are various softwares available, but we have chosen to use Sage. In the last few weeks after meeting with the accountant I have been uploading our accounts onto the Sage portal. There is quite a lot to upload and it takes time but its quite refreshing to learn a new skill and do something a little different from chef recruitment on a day to day basis.

First, I am uploading all our invoices and then I will need to mark which ones have been paid. Then I will upload all of our external supplier invoices and any other expenses the Chefs In Scotland business has including wages and office supplies.

With regards to the VAT return normally I would take the time to go through each monthly statement and deduct expenses to work out the VAT we must pay. With Sage its just a case of clicking a button as the software works it all out for you. We have enrolled already to making tax digital so we will then pay HMRC this figure.

Are any other businesses out there going through this process now?

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