Making Tax Digital for VAT is coming to your organisation soon!
Charities and not for profit organisations like yours need to be preparing for Making Tax Digital for VAT now. This seminar provides a clear and practical guide to what Making Tax Digital means in reality. It shows the best approach to ensure you implement it in the most effective way and in time. Because of the complexities of VAT in your sector, it is often necessary to carry out separate VAT recovery calculations that would be very difficult to automate.
VAT-registered organisations with a taxable turnover above the VAT threshold (currently £85,000) will have obligations under Making Tax Digital from their first VAT return period beginning on or after 1 April 2019. From April next year, your organisation will need to maintain accounting records in a compatible digital format, and use these records to send your VAT return information directly to HMRC.
The changes are particularly challenging because VAT accounting and calculations in your sector are complex. It is regarded as being the biggest revolution in the administration of the UK tax system for decades. So join us to find out how what your organisation needs to do to satisfy all the requirements.
Date: November 14, 2018
Time: 4.30pm registration for 5.00pm start
Partner, Kingston Smith
VAT Director, Kingston Smith
4 Victoria Square