Making Tax Digital
Our Services
At Pritchard & Co incorporating J D Jones & Co our clients vary but our approach to each client is the same: to provide all-round solutions, designed to add value to businesses. We recognise that companies and individuals require different support at different stages of their growth, therefore we don’t force square pegs into “one size fits all” round holes, instead we provide bespoke, practical advice, in straightforward language.
Digital and cloud-based accounting is growing rapidly as technology continues to become avital part of our everyday lives. HMRC’s ‘Making Tax Digital’ initiatives have prompted a full roll out of digital accounting, financial information must be stored digitally and your taxes submitted through compliant software, starting with VAT from April 2019 and now income tax for many. Cloud-based accounting allows you to keep all of your business records in one, easy to access online location. You can securely open your accounts at the touch of a button and create and send invoices, keep up to date with payments and much more.:
We specialise in all round services for businesses from moving to cloud accounting software to corporation or family tax planning. We pride ourselves on providing a personal and professional service to all our clients and we consider our fees to be very competitive in the local area.
Making Tax Digital (MTD) will affect most businesses by changing how business records are kept and how tax information is sent to HMRC.
Making Tax Digital is an additional cost for many businesses but our innovative approach using the latest technology and apps will keep this extra burden to a minimum. The first stage of MTD launched in April 2019, when all VAT registered businesses needed to present data directly to HMRC digitally, using appropriate software.
For many businesses MTD has been a daunting task, but at Pritchard & Co Digital incorporating J D Jones & Co we have established proven methods to steer our clients through this transformation with minimum disruption to business. Our innovative approach to MTD reduces bookkeeping, VAT returns and all financial accounts into one function, using apps that link directly with Xero software. Less time processing their accounts, has given our clients more time to concentrate on improving their company’s growth.
Cloud Accounting
Cloud accounting has changed how we do business today. Cloud accounting software means you no longer have to concern yourself with spreadsheets or installing an accounts package on a single computer, cloud based software enables you to log on to your company’s accounts securely anywhere that has internet connectivity.
At Pritchard & Co Digital we offer monthly or quarterly management reports using Xero. Our proactive approach using cloud based software gives us real time accounting information, vital to your business. This allows us to help you to make important decisions faster, you don’t have to wait until your financial year end to find out your tax bill or how much profit you’ve made.
Our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax, whether you're considering investments, a second home, or another asset.
Every year, corporation tax rates and reliefs vary, so we make sure we can offer all the necessary assistance and advice when examining potential exemptions, allowances, and deductions. In order to make sure you are in compliance and avoid fines, we will carefully evaluate and produce corporate tax filings.
Whether you're considering investments, a second home, or another item, our staff can make sure you maximise your exemptions while demystifying the complex world of capital gains tax.
We can help walk you through the complicated subject of personal taxation, we are aware that it can be challenging to grasp, therefore we support you every step of the way. By developing a tax planning approach that works for your tax situation and helps ensure you pay the least amount of tax, we eliminate the time and worry involved. Our staff will provide guidance on when payments are due in addition to what paperwork must be submitted and returned in order to maintain compliance.
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