Making tax digital for income tax (MTD for IT) was set to come in from 2024, but the Government has now confirmed there will be a further two-year delay, with it being phased in from April 2026.
However, every cloud has a silver lining - the delay provides plenty of time to get yourself confident with cloud accounting. 2026 seems way off in the future but will roll around quicker than expected, with MTD being on your doorstep once more!
A box file overflowing with bank statements and invoices...
A practice management system which does not link to your financial statements…
A meeting with your accountant nine months after the year end to discuss outdated information…
Sound familiar?
Hazlewoods Dental team look to do things a little differently with Xero.
Making the transition to Xero may seem daunting but cloud accounting solutions are increasingly necessary and provide an intuitive system for understanding the financial information for your dental practice.
Take a look at our fact sheet here to find out more about the benefits.
For further tailored advice, please get in touch with a member of the Dental team on 01242 680000.