​VAT goes digital with MTD

Ensure your business is HMRC-compliant with B2 Micro

The legal framework for storing business records and submitting VAT returns to HMRC is changing. Making Tax Digital kicks in on 1st April 2019.

B2 Micro is an intuitive bookkeeping software package (soon to be available for instant download from the Microsoft Store) specifically developed on the HMRC pilot to help small business owners manage their finances.

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Making Tax Digital (#MTD)

"From 1 April 2019 all VAT registered businesses with a taxable turnover above the VAT threshold (£85,000) are required to keep their VAT business records digitally and send their VAT returns using MTD-compatible software."
- HMRC Making Tax Digital for Business - Stakeholder Communications Pack

Electronic submission

Making Tax Digital means that business owners and sole traders will no longer be able to file VAT returns through the Government Gateway. Instead VAT Return data will need to be submitted through the HMRC API and this can only be done using software approved by HMRC.
(this is where B2 Micro can help)

Digital records

Although theoretically a subtle change from the current mechanism, there are significant ramifications of #MTD in terms of digital record keeping for businesses with a taxable turnover above the VAT registration threshold.

The full rules are set out in VAT Notice 700/22 and the deadline of 1st April 2019 is fast approaching!

Getting your business #MTD ready with B2 Micro

Bridge Squared Ltd is one of a handful of independent specialist software developers who have been invited to work directly with HMRC in the pilot phase of testing, ready for roll-out: Software suppliers supporting Making Tax Digital for VAT.

The dedicated team at Bridge Squared Ltd have developed B2 Micro specifically for business owners just like themselves.

Using best of breed technology and with a proven track record of designing and implementing detailed tax software systems, the majority of small business owners can be up-and-cracking on the B2 Micro intuitive system within a matter of minutes from registration.

... coming soon to the Microsoft Store:

Get it from Microsoft

Photography by: Raw Pixel