What does Making Tax Digital mean for you?
It may seem a long way away but Making Tax Digital comes into effect on 1 April 2019 and needs preparing for now.
From 1 April 2019 onwards, businesses and other organisations with VATable turnover above the VAT threshold (currently £85,000) will have to keep their VAT records digitally. This includes the self-employed and landlords.
All affected will also have to provide their VAT returns to HMRC through Making Tax Digital compatible software.
Sound straightforward? The software solutions should be able to work seamlessly, but the practical details and the actual implementation could be very challenging. No-one wants to trigger late submission penalties because they didn’t start in good time.
At Kingston Smith, we recognise that change can be daunting so we’re here to help. If you haven’t already reviewed your systems to ensure your organisation will be fully compliant within HMRC’s timeframe (or your own), our experts can help you not just comply but approach Making Tax Digital in a positive way. Planning as early as possible is crucial to ensure a successful migration based on a deep understanding of what these changes mean for you.
Our workshop on Thursday 4 October will be practical in approach. Our experts not only understand VAT and accounting software solutions, but also how owner-managed businesses and NFP organisations work, whether large or small. Find out more now via our Making Tax Digital hub or for bespoke advice about changes you may need to make, please contact firstname.lastname@example.org.
Date: October 4, 2018
Time: 5.30pm registration, 6.00pm start, 6.45pm drinks & nibbles
VAT Director, Kingston Smith
VAT specialist & former HMRC Inspector
Director of Business Outsourcing, Kingston Smith
Kingston Smith LLP
The Shipping Building
The Old Vinyl Factory
London UB3 1HA