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We have capacity to assist with individuals or businesses accounting, tax and business advice.
Learn More
We have capacity to assist with individuals or businesses accounting, tax and business advice.
Learn More
We have capacity to assist with individuals or businesses accounting, tax and business advice.
We Make MTD (Making Tax Digital) Easy!
0203 442 1900
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Is the stress of paperwork and tax documentation overwhelming you? Do you want to focus on more important matters such as managing tasks or handling essential business affairs?
Oxbridge Tax Accountants is here to offer professional Making Tax Digital services for making your tax affairs easier, and manageable.
With advanced software tools and management services, you will find it easier to focus on what matters the most, instead of having to dread about tax-related matters and filing the important documents. Let us handle the burdensome tasks, while you can focus on your business or other affairs.
Our Testimonials
Wow! Oxbridge Accountants are a real genius in their fields. They have amazing insight and expertise throughout to help with any question relating to business start-ups, tax, VAT returns, bookkeeping and general accounting services. They go the extra mile. They offer a more strategic business growth support for success. They are first class! I recommend them highly.
Kevin at South London office was friendly and highly professional. He provided comprehensive information and advice that was understandable. I felt he had my best interest at heart and wanted to see my business grow. I find “anything about Tax” to be scary, but he was able to allay my fears. There was no pressure to buy his service. I have actually put my tax return in his hands. services.
Kevin at South London office was friendly and highly professional. He provided comprehensive information and advice that was understandable. I felt he had my best interest at heart and wanted to see my business grow. I find “anything about Tax” to be scary, but he was able to allay my fears. There was no pressure to buy his service. I have actually put my tax return in his hands.
Had our first consultation today with Bilal today and cannot recommend and thank him enough. We were struggling with our capital gains tax and other tax return and he sorted it immediately He helped us to submit a return under 24 hours, despite the messy record keeping. It was refreshing to have such professional advice along with such humanity. 
Verity Accountants and Business Advisors are focused on offering award-winning services in a timely manner. They pay great attention to details and ask very important question that helps for accurate reporting and money saving. I sincerely recommend Verity Accountants to anyone seeking first calss accountancy services.
Mark, A. Director – Mayfair Trading Services ***** We have received exceptional services and support for the past years from Verity Accountants Ltd for all our bookkeeping, tax and accounting matters. They are completely committed to our needs. They treat us as individual and as a partner. They bring a breath of fresh air into our business. I would highly recommend Verity Accountants Ltd to any business looking for their type of accounting services.
Verity Accountants and Business Advisors are focused on offering award-winning services in a timely manner. They pay great attention to details and ask very important question that helps for accurate reporting and money saving. I sincerely recommend Verity Accountants to anyone seeking first calss accountancy services.
Amber receives business and accountancy services from Verity Accountants including an all-round service, such as payroll, VAT returns and End of year accounting services. The fabulous services have removed a lot of administrative burden so we are now able to focus fully on developing our business.
What is Making Tax Digital?
Making Tax Digital (MTD) is a government initiative in the United Kingdom aimed at modernizing the country’s tax system. The goal of MTD is to create a more efficient, accurate and streamlined process for businesses and individuals to report their taxes.
Under MTD, businesses and individuals will be required to keep digital records of their financial transactions and use software to submit their VAT returns to HM Revenue & Customs (HMRC). The digital records will be submitted via an Application Programming Interface (API) to HMRC.
The initiative applies to VAT-registered businesses with a turnover above the VAT threshold (currently £85,000), and will be mandatory for them from April 1, 2019. From April 2020, the mandatory compliance for MTD will be extended to other taxes such as income tax and corporation tax.
Why Was Making Tax Digital Introduced?
The implementation of MTD is intended to reduce errors and fraud, increase accuracy and efficiency in tax reporting, and make it easier for businesses to comply with their tax obligations.
Making Tax Digital (MTD) is a government initiative in the United Kingdom aimed at modernizing the country’s tax system. The goal of MTD is to create a more efficient, accurate and streamlined process for businesses and individuals to report their taxes. The initiative was introduced as part of the UK government’s goal to create a more digital and efficient tax system that can help to increase accuracy and reduce errors and fraud.
One of the main reasons for the introduction of MTD is to reduce the tax gap, which is the difference between the amount of tax that is due and the amount that is actually collected. According to the government, the tax gap in the UK is currently estimated to be around £34 billion per year, and a large portion of this is attributed to errors and fraud in the tax system. By introducing a more digital and automated system, the government hopes to reduce the tax gap by increasing the accuracy of tax reporting and making it easier for businesses and individuals to comply with their tax obligations.
Another reason for the introduction of MTD is to increase the efficiency of the tax system. The current system is based on paper-based records and manual processes, which can be time-consuming and prone to errors. By introducing a more digital and automated system, the government hopes to reduce the administrative burden on businesses and individuals, and make it easier for them to comply with their tax obligations.
MTD also aims to bring the UK in line with other countries that have already implemented similar digital tax systems. Many other countries, such as Australia and Sweden, have already implemented digital tax systems that have been shown to be more efficient and accurate than traditional paper-based systems. By introducing MTD, the UK government hopes to stay competitive with other countries and ensure that the UK tax system remains up-to-date and efficient.
Another reason for the introduction of MTD is to help support the growth of small businesses. Small businesses are often less able to afford the costs of complying with complex tax regulations, and can struggle to keep up with the administrative burden of tax reporting. By introducing a more digital and automated system, the government hopes to make it easier for small businesses to comply with their tax obligations and support their growth.
Finally, the introduction of MTD is also intended to help the government to better target support to those who need it most. By having more accurate and up-to-date information on the financial affairs of businesses and individuals, the government will be better able to identify those who are most in need of support and target resources more effectively.
In conclusion, Making Tax Digital (MTD) is a government initiative that aims to modernize the UK’s tax system by introducing a more digital and automated process for businesses and individuals to report their taxes. The introduction of MTD is driven by a number of factors, including the need to reduce the tax gap, increase the efficiency of the tax system, bring the UK in line with other countries, support small businesses, and better target support to those who need it most. While there may be some challenges for businesses and individuals as they adapt to the new system, the government believes that the benefits of MTD will ultimately outweigh any short-term difficulties, and that the new system will help to create a more efficient, accurate, and fair tax system for all.
Why Do You Need Professional Help with Making Tax Digital
Making Tax Digital (MTD) is a government initiative aimed at modernizing the UK’s tax system, but it can be a daunting task for businesses and individuals to navigate. That’s why it’s important to have professional help when it comes to implementing MTD.
At Oxbridge Accountants Limited, we understand the challenges that businesses and individuals face when it comes to complying with the new MTD regulations. Our team of experienced tax professionals are here to help you every step of the way, providing expert advice and support to ensure that you are fully compliant with the new rules.
We provide a wide range of services to help you with MTD, including:
An MTD compliance review: Our team will conduct a thorough review of your current accounting systems and processes to ensure that they are compliant with the new rules. We’ll identify any areas that need improvement and provide recommendations for how to address them.
Software support: We’ll help you choose and implement the right software for your business, and provide training and support to ensure that you and your staff are comfortable using it.
Record keeping and bookkeeping services: We’ll help you to set up and maintain accurate digital records of your financial transactions, so that you can easily submit your VAT returns to HM Revenue & Customs (HMRC).
VAT return submission: We’ll submit your VAT returns to HMRC on your behalf, so you can be sure that everything is done correctly and on time.
Ongoing support: Our team will provide ongoing support and advice to ensure that you stay compliant with the new rules and that your accounting systems and processes are working effectively.
Don’t let MTD compliance be a burden for your business. With Oxbridge Accountants Limited, you can rest assured that your business is in good hands. We will help you to navigate the new regulations and ensure that your business is fully compliant with the new rules, so you can focus on growing your business.
Contact us
Contact us if you would like to know more about our services or to book your free telephone or video consultation.
