Provide better Making Tax Digital (MTD) support to your clients
Make your accountancy practice stronger in MTD with the help of Affinity Outsourcing
MTD is a UK government initiative rolled out to modernise HMRC’s tax system and make the tax process simpler and more efficient. Your clients’ tax information will be in one place (their digital account), and they’ll have to report their business activity during the year, uploading and updating data to the tax account in real-time. Given the complexity of MTD, it can be very exhausting for your clients to stay on top of things.
Similarly, working with them to digitise and update their records periodically is not easy for most accountants as it increases the workload considerably. We at Affinity Outsourcing work with all the commonly used HMRC-approved MTD-compliant cloud software and can help you to provide a seamless service for your clients throughout the process.
It may only be VAT records now, but the full roll-out will shortly follow, and we can ensure you are in total control at every step of the process. Our expert team can help and advise or even take over your record keeping. MTA VAT or ITSA – our accountants can handle it all.
Every UK business is required to automate processes, ensure compliance, and keep up with rapidly digitising tax authorities.
It’s your duty as an accountant to deliver the best possible support.
Leverage our MTD specialism.
Types of Making Tax Digital
MTD VAT
MTD for VAT is mandatory for all VAT-registered businesses above the £85,000 threshold and those that have voluntarily registered for VAT. These businesses must keep records and submit their VAT returns digitally, using MTD software recognised by HMRC, for instance, Xero or Quickbooks.
MTD ITSA
MTD for Income Tax Self Assessment (ITSA) will roll out in April 2024, impacting sole traders and landlords with a gross income of over £10,000. Businesses and landlords who join MTD for Income Tax will need to send a quarterly summary of their business income and expenses to HMRC using MTD-compatible software.
Scope of our Making Tax Digital specialism
- VAT/ITSA summary and reporting
- End-to-end digital record-keeping
- Assistance in moving client data to cloud-based systems (migration)
- Compilation and submission of monthly/quarterly VAT/ITSA returns using HMRC-approved software
- Bridging software support to connect non-compatible software (like spreadsheets) to the HMRC system
Contact us to find out how we help UK accountants with MTD.
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Client Stories
Artisan Accountants
Kevin Alderton & Team
McKenzie Philips Tax Accountants
We are different from ordinary outsourced accounting firms. We know our job well.
Pay As You Go!
Thinking of outsourcing but want to avoid getting bound for the long run? No problem! We keep our clients free from any contracts and follow the “Pay As You Go” model, which means you only have to pay for the services you want to use. No heavy deposits are to be made; no surprise charges from us—only brilliant accounts outsourcing service. Get going with Affinity Outsourcing!
Opt for a free trial
We see outsourcing as a solution for business growth and that helps accountancy practices achieve their potential. That’s why we offer to run a free trial job, so you can see how much your practice can benefit from outsourcing. Once you are confident, we work with you to create a bespoke package to suit the needs of your business. How simple is that, right?
Get transparent, simple pricing
We don’t charge by the hour, nor would you have to pay a monthly fee when no work is available. Either all the work we produce for you is completed for a guaranteed fixed fee. This is calculated as a set % of the fee you charge your client, which means you always know how much profit you’ll make on the job! Or if you have sufficient work, we provide a full time employee.
Add value to your practice
Outsourcing equals value addition, and we want all accountancy practices – small, medium, and large – to tap into their full potential without hassle. That’s why our team of certified and experienced accountants ensure that their work is top quality and delivers 100% client satisfaction. That’s a guarantee from our team!
Outsource your work in a structured way
Affinity Outsourcing is owned and managed by qualified UK accountants in practice. All your work is managed by an appointed client manager and team in India. Our advanced systems enable you to track the progress of every job and someone is always available during UK hours. Of course, the UK team is available if you have any doubts.
Use the latest accounting technologies
In this day and age, it always helps to be a tech-savvy accountancy practice. If you don’t have that competitive edge yet, fret not. Let us share our knowledge and expertise of the latest accounting software, such as Xero, QuickBooks, and Dext, and empower your accountancy practice to deliver competent services to your clients.
Frequently Asked Questions (FAQs)
Making Tax Digital (MTD) is a UK government initiative that digitises how businesses manage tax. It minimises the time taken to enter returns manually, makes filing taxes easier for businesses, and gives them better financial control. For more information on MTD, please contact our specialists.
Yes, HMRC has confirmed that spreadsheets are a valid form of digital record-keeping under MTD VAT rules. However, as accountants work with multiple clients simultaneously, they're more susceptible to making mistakes while using spreadsheets. That's why it's best to use HMRC-approved software, such as QuickBooks or Xero. If your practice is struggling with MTD software, let us help you out.
Is your accountancy practice ready to outsource?
Explore how Affinity Outsourcing can help you by requesting a call back from our team.
Explore how Affinity Outsourcing can help you by requesting a call back from our team.
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