Established in 1991, Christchurch based MAAP Accountants deliver a complete book-keeping, accounting and tax service for small to medium sized businesses in Bournemouth, Ringwood and the New Forest region.
The introduction of intelligent software and the relaxation of reporting standards for small businesses have made it much easier, and certainly less expensive, for everyone concerned to produce year end accounts and tax returns.
This year will also see the HMRC take the first 'small' step to change the way tax-payers inform the HMRC of their taxable income. Although much will be made of the introduction of Making Tax Digital (MTD) in the coming months, the exercise is really a non-event involving a small shift in the way the VAT Return Form is reported to the HMRC. We suspect a lot of people will wish they had received the advice we gave our clients. Unless you have sound business reasons, other than MTD, to commit to new accounting software, then resist all the marketing hype to make the move for at least the next few years to come.
We also predict the HMRC will make substantial progress in eliminating disguised employment in the UK. It can only be a matter of time before legislation is introduced to make the engager liable for collecting in the correct tax from people who they engage off-payroll. It will transform the way personal service companies work in the contracting sector (IR35). It will also put a stop to the wide-spread practice in the construction sector of engaging the same labour-only workers week-in, week-out and ignoring the inconvenient fact they are often employees in all but name.
If you are looking for an accountant who will uncompromisingly give you the advice you need, rather than the platitudes that may lead to compromise, then we look forward to talking to you. Call us for a free, no obligation chat on 01202 482121.
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Sigma House, 44 Willow Way
Christchurch, Dorset, BH23 1LA
Tel: 01202 482121