Cloud accounting for Making Tax Digital
Making Tax Digital (MTD) is the UK Government’s programme for getting businesses and individuals reporting tax entirely online. The ultimate aim is for all tax to be managed through digital software reporting in real time to HMRC. In practice, that means no more paper records or copying and pasting from one document to another.
As of April 2019, all UK businesses trading with a taxable turnover of more than £85,000 must keep records digitally and file quarterly VAT returns using MTD compatible software. From April 2022, MTD for VAT extends to cover all VAT-registered businesses. Then, from 2026, sole-traders and landlords will also need to comply. MTD for corporation tax is expected to follow shortly after – but it’s worth getting ready now.
For support with making your business MTD compliant, get in touch today. We’ll review your existing systems and processes to highlight areas of concern and recommend efficient, cost-effective and easy solutions. We generally advise clients to build their financial setup around Xero, our preferred cloud accounting package, but will, of course, take each client’s circumstances into account.
- Making Tax Digital compliance review
- MTD compatible software advice
- Software setup, including Xero
- Training and ongoing support
Quarterly coaching
These sessions are aimed at business owners and key decision makers who are looking for someone to be their sounding board. They take the form of open and honest discussions, detailing where you and your business are right now, your plans for the future – and what action you need to take to get you there.
Coaching is carried out through quarterly 1-2-1 calls, normally over Zoom. The purpose of the calls is to fully understand the most pressing issues currently facing your business, explore solutions and put in place a personalised action plan for the next 13 weeks. We then review the action plan and assess the progress being made in our next call. We discuss any new additional items which may have surfaced since we last spoke, before setting the next plan.
Price per month: £169+VAT
Monthly coaching
As with the quarterly coaching sessions, monthly coaching offers a dedicated environment for you to focus on your business.
The increased frequency of sessions is ideal for those who need more advice, which is also more responsive – perhaps because their business is growing fast, or facing particular pressing problems.
In these monthly sessions, Tim provides a step-by-step guide to how your business is developing. You’ll review your business’s progress, get challenge and encouragement.
To ensure the business stays on track, you’ll also get a chance to revise the targets based on the latest business data.
Price per month: £249+VAT
Invest in 1-2-1 coaching
To fully benefit from our sessions, we ask only one thing of you – a set amount of time and real commitment. Those who benefit most really make themselves present in the calls (no distractions, no late starts or early finishes) and they give themselves the space to implement the action points agreed.
If you’ve got the commitment to focus on your business on a monthly or quarterly basis, then our 1-2-1 coaching sessions will provide a great return on your investment.
Both programmes require a minimum time commitment of 12 months. We limit the number of participants on the quarterly programme to just five at any one time and the quarterly programme is limited to a maximum of three people. This ensures you receive the right level of focus from us, just as we expect that from you.
Continuum is a trading style of Continuum (Financial Services) LLP which is authorised and regulated by the Financial Conduct Authority. Continuum (Financial Services) LLP is a Limited Liability Partnership.
Investing your wealth
Designing investment strategies for you.
Saving for the future
Helping to make future plans real.
Protecting your family & your lifestyle
Helping you protect what is important to you.
Pensions and retirement
Making future lifestyle plans a reality.
Continuum services
Protecting your business & your employees
Helping protect what you have built.
Workplace solutions for employers
Offering a complete workplace solution for you and your business.
Planning your estate
Pass your wealth on in a tax efficient manner.
Buying your home
Helping you find the right mortgage.
Continuum (Financial Services) LLP; Registered address: Falcon House, Eagle Road, Plymouth, PL7 5JY. Registered in England and Wales. OC393363.
Self Assesment
Our tax services make sure that your tax liability is calculated taking into account all allowed exemptions and deductions. We simplify the process by using accountancy software to accurately complete tax returns and calculate any tax liability that may occur, along with any payments that need to be made.
Corporation Tax
Corporation tax reliefs and rates change annually, so we ensure that we can provide all the right guidance and advice when looking at exemptions, allowances and deductions that may be available. We will thoroughly review and prepare corporation tax returns in great detail in order to ensure you are complaint and that you don’t incur any penalties.
Capital Gains Tax
You may be looking at investments, a second property or another asset and our team can make sure you maximise your exemptions while simplifying the difficult area of capital gains tax.
Persoanl tax Planning
[insert firm name] can help with the complex issue of personal tax, we know it can be difficult to understand, which is why we help every step of the way. We take away the time and stress by creating a tax planning strategy that suits your tax affairs, helping ensure you pay the least amount of tax. Our team will advise when payments are due along with what forms need to be filed and returned to keep you compliant.
Business Tax
Self Assessment
Payroll
Accounting
Making Tax Digital
Bookkeeping and VAT
Wealth management from Continuum
Financial director
Management accounts
1-2-1 Coaching
