Making Tax Digital for Construction
For contractors in the Construction Sector the right software apps, having the facility to take photos of receipts when on the move and link to the expense within the software should result in a time saving and more accurate accounting records. The physical receipts can then go straight in the bin. In addition, with the right solution you should be able to get your chosen software to record CIS receipts and link to your business bank accounts.
The licensing and support cost can be an issue and will need to be considered for some contractors. A one-year subscription for existing bookkeeping software is often more than £200, and an MTD system will require contractors to subscribe year-on-year. That’s a great deal of money across the life of a construction business.
Why do you need the specialists at Folkes Worton?
- Folkes Worton will be able to access you the best prices through our partnerships with all major software providers.
- We can give the best accountancy advice that software providers cannot. We ensure you do not miss out on valuable tax deductions and in many cases saving available can out weigh our costs.
- We can assist in using bridging software to get you from your old system to an MTD compliant one free of charge.
