On this web site we explain HMRC’s Making Tax Digital project, known as MTD. We answer the top questions with a pithy answer, then give more detail below once you know the key facts.
So, what’s MTD all about?
On this site we focus on the impact of MTD for Plumbers, Gas Engineers, Electricians, Builders and other small and mobile businesses. We also explain about MTD Software. Please go ahead and look at the frequently asked questions (FAQ) below.
Making Tax Digital is the most fundamental change to the way UK tax is administered for many years. Deadlines have already been put back a couple of times and now there is a lot of pressure on HMRC to get on with it.
MTD is a rolling program which will run for several years. Over a period of years, all tax reporting and calculations will be subsumed by the MTD project and businesses will be forced to keep digital records and generate their tax returns directly from these records.
This site is brought to you by Powered Now. Our easy-to-use and powerful app runs on iPhones, iPads, Android smartphones and tablets, Macs and PCs. Using Powered Now you can be fully MTD compliant.
MTD Frequently Asked Questions
We know there is a lot to do…
Running your business is a hard task. There are lots of things to do aside from the day job. So we’ve tried to make life a bit easier for you. Our app and software automates a lot of the heavy lifting, so you don’t need to be a slave to the admin.
We’ve written a number of useful guides on the blog, here are three we think are most useful. Head over to the blog to read and learn more.
What is the Construction Industry Scheme (CIS)?
CIS (Construction industry scheme) is a tax law relating to work done by subcontractors for contractors in the UK.
It involves the contractor deducting CIS before paying each subcontractor invoice.
While this sounds confusing our guide to CIS should help demystify it!
How do you send a winning invoice (and get paid faster)?
One of the things we are asked a lot at Powered Now is how can you create a professional looking invoice. asp what do I need to include on it?
Here are a couple tips on things that you will get you paid faster and should definitely be included on your invoice, all of which are easy to do in Powered Now!
Getting more jobs
There has been a lot of chatter about some of the trade directories such as RatedPeople, MyBuilder and Checkatrade. We’ve pulled together our thoughts on how these sites can help you win more work as well as other useful articles on running your business.