We’re committed to helping businesses submit their taxes digitally.
We can help you keep digital records of VAT returns through market leading accountancy software.
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment.
We can help you with all your general bookkeeping requirements, either at your business premises or at our office.
Making Tax Digital (MTD) is a system introduced by HMRC, intended to make tax administration more effective and efficient. The key requirement under MTD is to keep records in a digital format and to submit this information to HMRC using compatible online software’s.
At Everest and Co Accountants, we are here to help with the transition from manual to digital record keeping by using compatible software’s, such as Xero and assisting you in fulfilling all MTD obligations.
Under Making Tax Digital for VAT (MTDfV), businesses with a turnover above the VAT threshold must keep digital records for VAT purposes and provide their VAT return information to HMRC using MTD functional compatible software.
Keeping digital records and making quarterly updates will not be mandatory for businesses below the VAT threshold which have voluntarily registered for VAT, although such businesses can opt to join the scheme. There are some exemptions from MTDfVAT. However, the exemption categories are tightly-drawn and are unlikely to be applicable to most VAT registered businesses.
Ensuring that you comply with all the VAT regulations is essential. We can assist you in a number of ways including the following:
If you are starting, or have recently started a business in the West Midlands area and you would like to discuss any of the points mentioned in this VAT summary please contact us at Everest & Co – Accountants.
We have the expertise and software to take the headache out of the form filling and compliance aspect of Self Assessment. We can provide you with practical advice on personal tax and the planning opportunities available to you. Over recent years HMRC have increased the penalties for failing to file a return on time and for errors.
We can complete tax returns, calculate any tax liability and advise you on exactly when to make payments and how much to pay.
The Real Time Information requirements are wide ranging and potentially onerous on employers.
We at Everest & Co – Accountants, can help you to set up and run your payroll on your behalf. We set out below details of how payroll information has to be submitted to HMRC under Real Time Information (RTI).
Under RTI, employers or their agents are required to make regular payroll submissions for each pay period during the year, detailing payments and deductions made from employees each time they are paid. There are two main returns which an employer needs to make which are detailed below.
Employers may also have to make a further return to HMRC each month, the Employer Payment Summary (EPS) to cover the following situations:
Read through our FAQ section below.