... Find out how you can get prepared
Her Majesty’s Revenue and Customs (HMRC) have announced that it intends to change the way in which businesses can submit their returns under its ‘Making Tax Digital’ (MTD) initiative. From April 2019 all VAT registered businesses with taxable turnover above the VAT registration threshold will be required to keep records in a digital format and file their VAT returns using software.
Not quite sure what this means?
Put simply, with effect from 1 April 2019, if your taxable turnover is above the VAT registration threshold you must follow HMRC’s rules on digital record keeping and reporting. That means no more manual books, records or stand alone spreadsheets. By April you will be required to have up-to-date digital records, and to collate and prepare your VAT return using software which is approved by HMRC in order to submit your files.
Don’t worry, throughout Autumn and into the new year, we will be hosting presentations where we will explain:
- What MTD is and how will it affect your business
- The type of software available and explain which ones could work best for you
- How and when the new rules apply and what you need to do to ensure that you are MTD digital ready
Dates: Throughout October, November, December, January and February
Time: 4.30pm - 6.00pm
Venues: Our offices
The presentations are free and anyone can sign up, you will also have the chance to ask our specialist tax and accounting advisers questions. Register your place today.