Making Tax Digital Seminar

Details
Starts 5th March 2019 at 8:30am
Ends 5th March 2019 at 10:00am
Location Grant Thornton, 12-15 Donegall Square West, Belfast, BT1 6JH

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Making Tax Digital for Business

Making Tax Digital (MTD) is making fundamental changes to the way the UK tax system works, including to how businesses must store information and submit their tax returns to HMRC. It represents the biggest operational change to the UK’s tax system in the last couple of decades.

From 1 April 2019, most VAT-registered businesses with a turnover above the VAT threshold (£85,000) will be required to keep their VAT business records digitally and send VAT returns to HMRC using MTD-compatible software. Further changes will be made from 2020.

Businesses now need to take immediate steps to prepare for MTD, if they have not already done so.

This seminar will cover:

  • What is Making Tax Digital?
  • MTD route map – which businesses will be affected and when
  • The digital record-keeping requirements
  • Submitting your VAT returns to HMRC digitally
  • Further changes from 2020 – the digital links requirement
  • How MTD impacts working with your agent
  • HMRC case studies
  • Sanctions & penalties for non-compliance
  • Looking ahead – MTD for income tax