In 1789, Benjamin Franklin famously wrote "Nothing is certain except death and taxes" and as a new tax year dawns this seems truer than ever. Even the weather it seems, can't decide what to do as the lovely warm spell we have been enjoying looks set to be replaced by freezing temperatures, April showers and even snow in some areas of the UK. Uncertainty is everywhere and like the weather, change can be very unpredictable.
One change affecting businesses this new tax year is the introduction of the much talked about Making Tax Digital for VAT. Unlike the weather, this change has been forecast for some time and Xero have been working closely with HMRC for over three years to ensure businesses are fully supported through the transition. All Xero customers have to do to prepare for the new system is to sign up to MTD for VAT with HMRC. Once that has been done the MTD for VAT on Xero will be activated and voila, MTD compliant!
Not all changes have to be challenging and thanks to Xero, MTD is one less thing to worry about. Now if only they could do something about the weather - they are cloud based after all!