From April 2019, the new Making Tax Digital requirements will be essential for all businesses. Making Tax Digital which will impose new requirements on businesses in the United Kingdom and is a key part of the government’s plans to make it easier for individuals and businesses to get their tax right and keep on top of their affairs.
But as a holiday park, how do you get on top of this new initiative?
Keep your records digitally
To comply with the new requirements, you will need to send all VAT returns to HMRC through Making Tax Digital compatible software. In addition to this, all tax records need to be created and recorded on a digital format.
We understand, as a holiday or caravan park owner, the difficulty you may face in having to keep up with changes in technology. For most, it can end up with additional costs or investments on top on current yearly expenditure.
With the EliteParks software from Elite Dynamics, you will be able to easily integrate your business with the new legislation, as the Microsft Dynamics NAV software is fully compatible with the ‘Making Tax Digital’ requirements.
How does EliteParks support ‘Making Tax Digital’
With EliteParks, not only do you get a full-service system, that unlocks efficiency across your whole business, but you will have the confidence that your tax records comply with the new requirements.
Because the EliteParks software is built using Microsoft Dynamics NAV, you will have access to the following:
- Effective bookkeeping and cash flow forecasts
- Issue invoices quickly and efficiently
- Take care of VAT
- Get paid quickly
- Manage you Park’s cashflow
- Access your information anytime, anyway on any device
- VAT returns submission
- Full integration with Microsoft Office 365
- Training and support
So how does this all help you and your team? Firstly, the amount of time that will be saved is supremely valuable to your business and means less time is used on new integrations. The additional level of detail provided on cash flow, invoices and VAT returns also allows you to never miss a beat when it comes to analysing your data.
Ultimately, EliteParks allows you to bring all your financial management within one application, which helps to make the lives of you and your finance team a lot easier. Plus, the full software package, also helps manage operations in sales, reservations and park management, with significant opportunities to boost your 2019 growth.
If you’d like to find out more about how EliteParks could help to benefit your finance team, be sure to get in touch with us and request a demo. You can also refer to this page for some video tutorial on how your team can use Elite Parks for producing a BACS export file and import a bank statement for bank reconciliation.
If you aren’t sure how EliteParks compares to other solutions on the market, make sure to look at our functionality matrix to see how the Financial Module of EliteParks stacks up against competing software solutions.