From April next year, all VAT registered businesses with taxable turnover above £85,000 will be required to file VAT returns via HMRC approved software. This is the first phase in the implementation of Making Tax Digital (MTD). MTD is a fundamental change to the way taxes are administered and compliance is mandatory. Our specialist MTD team has produced a flyer highlighting details of MTD and a special offer for clients that can be downloaded here.
The current process of submitting VAT returns electronically will not, on its own, comply with MTD and at the moment, only 12% of businesses file VAT returns via a software package. The Government also intends to extend digital reporting to income tax and corporation tax over the next two to three years and therefore one of the challenges faced by businesses is selecting the right software before next year.
Chiene + Tait is pleased to invite you to a presentation and discussion on MTD. By attending you will learn of the changes being introduced next year, the difficulties faced in implementing these changes and the long term benefits which can arise from MTD compliant software.
The seminar takes place on 30th May. We will host two sessions:
Session 1 – 8:30am – 10am
Session 2 – 4pm- 5.30pm
Please note both sessions will take place at Chiene + Tait’s office at 61 Dublin Street, Edinburgh EH3 6NL. If you would like to attend Session 2 please register on this page.