Online accounting
Support for your online accounting processes
In recent years, Making Tax Digital (MTD), or ‘online accounting’, has become mandatory for an increasing number of UK businesses.
The plans to extend MTD to income tax for self-employed individuals and landlords have been delayed to April 2026.
Making Tax Digital is generating fundamental changes to the way the tax system works – transforming tax administration so that it is:
more effective
more efficient
easier for taxpayers to get their tax right
Why has MTD been introduced?
HMRC is bringing in this scheme to make the entire process of administrating, calculating and paying tax simpler and more efficient, for both themselves and for your business.
Less stress
By submitting your tax information every three months, you’ll no longer suffer the stress of meeting dreaded end-of-year deadlines.
Less paperwork
Less paperwork? More like no paperwork.
Your cloud accounting software will automatically record every single business transaction.
More chances to pay less tax through accurate planning
Businesses that are up-to-date on their tax obligations are much better placed to strategically manage their bills, with a chance of keeping them as low as possible. For example, armed with more accurate information, you might choose to increase your retirement contributions or reinvest in your business.
Loss of privacy
You might feel uneasy about some of your electronic transactions being visible to HMRC. But you shouldn’t need to worry – you’ll be able to review the data and fix any mistakes prior to submission.
What do I need to do now?
That depends on how up-to-date you are. If you already use Xero, QuickBooks or one of the other online accountancy platforms, the answer is ‘very little.’ These systems are geared up for MTD. It’s unlikely that you’re not already using cloud accounting software. If that’s the case, then don’t worry. We’re here to help. You’ll find there are tremendous advantages to using these platforms – all kinds of efficiency benefits with almost every aspect of your accounting procedures.
Just bear in mind
Here at LessTax2Pay, we’re online accounting experts. We’re perfectly placed to guide you through the switch to Making Tax Digital or to help you manage your current accountancy software platform. All it takes to give you peace of mind is to pick up the phone. We’ll be delighted to hold a no-obligation conversation and talk you through the process.
The complete accountancy service
Check out our complete range of tax and accountancy services -
Annual Accounts – Limited Companies
Self Assessment
VAT
Payroll
CIS
Online Accounting
Company Secretarial
Registered Office
Clients come to us and stay with us because of the comprehensive nature of our accountancy services.
Whatever the scale or type of business you run – whether it’s a start-up or long-established –
We have the skills, the experience and the range of services to keep you growing.
How we work and who we work with
Limited Companies
Limited Liability Partnerships
Start-Ups
Sole Traders
Individuals
We love working with all kinds of businesses and organisations. Which one of these is you?
Whichever it is, you need an accountant with experience, expertise and a pro-active, ‘can do’ approach.
Doesn’t every business? But you also need an accountant you can call - and just as important - one who will respond.
Why so many clients choose LessTax2Pay
We are partners will all the major cloud accounting software providers, allowing us to work with you.
Complete fixed fees
Your questions answered fast and efficiently
No problem is ever too big
Someone on YOUR side
Let’s talk
Call us - and here’s a promise - We won’t try and sell you our services.
Book a consultation and tell us about your business - your successes, your challenges.
Perhaps we could talk around one particular issue that’s bugging you.
You never know - between us, we might come up with a solution… or at least a couple of options.
Partners
