We have a range of accountancy and support services to help your business to grow and flourish.
We offer our services at part of a fixed fee package, saving you from any nasty, unwanted suprises.
Those are the underlying ideals that provide Khushkam Limited, an established practice in Harrow, with its core values.
The aim is to provide an all-inclusive service for small and medium sized businesses in and around London and the South East. The director Sangita Patel has over 23 years of experience working with many different small and medium businesses and can advise on a range of issue. We are fully committed to providing an individual service to all clients that is tailored to meet their needs. In these times of economic hardship it is important that businesses and individuals know exactly what their outgoings are going to be, so for this reason we offer a fixed fee service with no nasty surprises.
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HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. The first area to be affected by MTD will be VAT with the new rules being implemented from April 2019.
Under the regulations, businesses with taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using ‘functional compatible software’. These new regulations take effect for VAT return periods beginning on or after 1 April 2019.
HMRC has published VAT Notice 700/22: Making Tax Digital for VAT. This Notice defines ‘functional compatible software’ and the transaction-level data that needs to be recorded and retained within the software.
Under the new MTD regulations, businesses will have to use ‘functional compatible software’. This means a ‘software program or set of compatible software programs which can connect to HMRC systems via an Application Programming Interface (API)’. This must be capable of:
MTDfV is coming soon and we are here to help you prepare.
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