In a little over a year, many businesses will be required to keep digital records of their finances. Sole traders, small businesses, including landlords and the self-employed, will be required to keep records of their income and expenditure digitally, and send summary updates quarterly to HMRC from their software or app. It is estimated that £8billion is lost to HMRC each year due to avoidable taxpayer errors.  This failure, along with the drive to turn the department into a modern digital online service provider are the objectives behind the changes. Contact Jenny at JMJ Bookkeeping for full details of what the

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