Businesses with turnover of up to £100,000 per annum are to be given a flat rate VAT calculation instead of recording the charge on every sale.
Speaking in today’s Budget, Chancellor Gordon Brown said that the change would reduce the burden of administration on small businesses.
He also announced that automatic fines issued by Customs and Excise, a real annoyance for many small businesses, would be abolished.
Barclays has partnered with accounting software company Xero to provide businesses with access to transaction data through its direct feed.
Government's estimate of a £400m admin saving from Making Tax Digital is way off - and is instead a huge cost burden, warns Lamont Pridmore chief executive Graham Lamont
Xero unveiled its expanded global partner programme at Xerocon South, the accounting technology conference in Australasia
Accountancy software firm Sage has been hit by a data breach which may have compromised the personal details and bank account details of as many as 300 UK businesses