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How can Old Mill help with Making Tax Digital?

If you currently prepare your VAT returns by hand or on excel you will need to make changes to the way you work.

This change could be considered an administrative burden; however, we firmly believe that complying with Making Tax Digital requirements will actually bring some broader benefits for many businesses. Once the software is up and running it can provide real-time information, reduce errors and save you time which ultimately helps you to run a more efficient business.

For a long time Old Mill has recognised that our clients require differing levels of service and involvements from us. Making Tax Digital is no different and therefore we have put together three different solutions to help you satisfy the requirements.

In offering these solutions Old Mill has formed a strategic partnership with accounting software provider Xero. We believe that Xero can really benefit your business in numerous ways, especially with the upcoming Making Tax Digital requirements.

  1. You or your bookkeeper use Making Tax Digital compliant software to record your transactions and you self-manage your Making Tax Digital requirements
  2. Old Mill to provide training on Xero software to help you get up and running with the software in order for you to self-manage your Making Tax Digital requirements
  3. Old Mill to carry out your bookkeeping and fulfil your Making Tax Digital requirements

The flow chart below will help you to see how your business is affected and what action you need to take. 


Old Mill Clinics

We understand that the changes which Making Tax Digital will bring are significant and therefore we are running some clinics to help you further understand the implications for your business and the options available to you. You can check dates and location of these and book onto the most convenient one for you here

Old Mill and Xero

Old Mill chose Xero as our recommended online accounting software. It is extremely user-friendly, helping with budgeting, invoicing, payroll and VAT returns. For more information please visit www.oldmillgroup.co.uk/your-business/xero or go to www.xero.com/uk/resources/making-tax-digital/

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