As the new Making Tax Digital (MTD) for VAT deadline approaches for over a million small businesses, research from Intuit QuickBooks finds that accountants and bookkeepers are investing a significant amount of time getting clients compliant
Under the changes, an estimated 1.1 million businesses who do not already keep their records digitally will need to start doing so to meet their VAT obligations.
QuickBooks’ research found that accounting professionals spend an average of seven working days (55 hours) helping each SME client get up to speed with MTD, from initial conversations to getting them set up with a software provider.