Being an accountant has always had its little joys.
A bank reconciliation that balances first time. Finding the missing receipt. Turning a bookkeeping muddle into beautifully organised accounts.
We appreciate these things might not sound particularly exciting to everyone.
But we’re accountants. This is our idea of fun.
And now there’s another three-letter phrase keeping the accounting world busy:
MTD – Making Tax Digital.
What Is Making Tax Digital?
If you run a small or start-up business in Crawley, you may already have heard about Making Tax Digital and wondered what it actually means for you.
Perhaps you’ve thought:
“Do I need to do something?”
“Do I need new software?”
Or the ever-popular…
“Can my accountant just sort this out?”
Making Tax Digital is HMRC’s move towards a more digital tax system. Depending on your circumstances, it can mean keeping digital records and using compatible software to provide information to HMRC.
Sounds straightforward enough.
Until you start reading all the rules.
That’s when it can suddenly feel like one more job on an already very long small-business to-do list.
Small Business Owners Have Better Things to Do
When you’re running a small business, you’re rarely doing just one job.
You’re the salesperson, marketing department, customer service team, administrator and tea-maker, often all before lunchtime.
If you’re starting a new business, there’s even more to think about.
So spending an evening trying to understand MTD requirements probably isn’t at the top of your wish list.
At 2 Sisters Accounting, this is where we can help.
We actually enjoy taking something that seems complicated and making it feel much more manageable.
Yes, really.
Could MTD Actually Make Life Easier?
Keeping your bookkeeping up to date digitally isn’t just about HMRC.
Having accurate, current figures can help you understand what’s happening in your business.
How much money is coming in?
What are you spending?
Who still owes you money?
Are you actually making the profit you thought you were?
And, of course, the classic small-business question:
“Where has all the money gone?”
Good bookkeeping can help answer that one.
Keeping your records regularly updated can also help avoid the traditional once-a-year panic involving missing receipts, forgotten invoices and a frantic search through drawers, handbags and the glove box.
We’re not saying MTD will make the famous accountant’s shoebox disappear completely.
But we can dream.
Do I Need to Become a Bookkeeping Expert?
Absolutely not.
We’d quite like to keep our jobs.
Whether you’re a sole trader, a start-up or an established small business, you don’t need to suddenly develop a passion for accounting software.
And you certainly don’t need to spend your evenings trying to translate HMRC guidance into normal human English.
That’s what we’re here for.
At 2 Sisters Accounting, we help small and start-up businesses in Crawley get their bookkeeping and accounts organised, understand what they need to do and feel more confident about their numbers.
And if technology isn’t your favourite thing, don’t panic.
Accounting software is supposed to make life easier not leave you staring angrily at your laptop wondering whether throwing it out of the window would count as a business expense.
For the record, we wouldn’t recommend it.
Making Tax Digital… Making Tax Doable
Starting and running a small business is exciting, but there’s plenty to think about without adding unnecessary accounting stress.
Getting organised early can make a huge difference.
So, if you’re a small business, start-up or sole trader in Crawley and Making Tax Digital has left you wondering where to begin, come and have a chat with us.
We’ll help you understand what you need to do, get your bookkeeping organised and make the whole thing feel a little less daunting.
Because while HMRC calls it Making Tax Digital, at 2 Sisters Accounting, we prefer:
Making Tax Doable.
Preferably with a cup of tea and a biscuit.
2 Sisters Accounting — friendly accounting for small businesses and start-ups in Crawley, making MTD a little less taxing.
