Why is bookkeeping going to be so important for Making Tax Digital?

With the new Making Tax Digital legislation coming into force in the next couple of years, making sure your bookkeeping is in good order is going to be essential in helping you and your business prepare for the changes.


We know a lot of our clients are worried about the changes that are going to come with the new regulations, but we are here to reassure you that if you start making small changes now, you will be well prepared for April 2023.


The new version of a tax return that Making Tax Digital involves, means you will have to submit returns every quarter, instead of annually. Getting into good bookkeeping habits now will really help with the transition.

Read more about Making Tax Digital here.


What is bookkeeping?


The term bookkeeping refers to recording financial transactions and activities on a regular basis. It involves regularly carrying out the following tasks:

Why is good bookkeeping so important for your business?


Bookkeeping is something that shouldn’t be avoided and should be carried out on a weekly, if not daily basis. It is a major part of running a business and needs to be done carefully and thoroughly to ensure your finances are all in check and compliant with HMRC regulations.


Here are some advantages of good bookkeeping:

Make bookkeeping easy with our new app

We understand that bookkeeping can be time consuming for business owners, so we have launched a new app to help you get organised and prepared for Making Tax Digital. Our app includes a range of useful tools including:


Find out more here.



If you would like some help or advice on getting your bookkeeping up to a high standard, or for any more information about Making Tax Digital, please email us and we can help you through the process.