Is Your Sage 50 Up-To-Date?
To ensure your software is compliant with new legislation and running smoothly, it's important to keep it up to date. Having the most recent version of Sage will fix any issues/bugs you may be experiencing and will ensure your software is compliant for Making Tax Digital.
Making Tax Digital:
It's one of the biggest accounting shake-ups ever seen in the UK which will affect 89% of companies. The new rules mandate that from the 1st April 2019, VAT registered businessses with a taxable turnover above the VAT registration threshold of £80,000 must keep records in a digital form and file their VAT returns online via MTD enabled software.
If you currently subscribe to Sage 50cloud Accounts and you have v24.2.228 or above installed, then this is MTD ready.
If you have an outdated version, then you will have to take action to ensure compliance.