A TAX specialist has advised that the government’s forthcoming Finance Bill should give clarity to business owners moving on to quarterly tax reporting.
James Self runs TaxAssist Accountants, based in Portsmouth.
He said: ‘The next Finance Bill confirms that online quarterly tax reporting is firmly on the government’s agenda. We’re already working with many local business owners who are well ahead of the game on digital accounting. We’ve geared up to support them with an app for smart phones and tablets and they are telling us that there are significant advantages, including time-saving, a clearer cash flow picture and faster payment of invoices.’
‘We’re urging all local business owners to seek professional support and educate themselves on these changes to ensure they are fully prepared for the new rules.’