The government initiative “Making Tax Digital” was first announced in 2015 and will see huge changes to the current tax system, bringing an end to the tax return by 2020 and requiring businesses to manage their tax affairs digitally.
To help businesses understand more about the upcoming changes and how it will affect them, Sheards Accountants will be hosting a free event on Thursday 30th March at Huddersfield Rugby Union Football Club.
The event will provide an insight into the operational changes that businesses may face once the new system is enforced as well as the benefits that will be gained from switching to digital tax.
Steve Reynard, Regional Manager for QuickBooks, will give an overview of Making Tax Digital and its impact on all businesses, together with an introduction to the QuickBooks platform and how it can assist businesses not only comply with the changes, but take control of their finances.
Digital tax will begin to be enforced in April 2018; self-employed individuals and landlords will be the first to move over to the new system, shortly followed by incorporated businesses.
Kevin Winterburn, Director of Sheards Accountancy commented:
“We understand that the upcoming changes to the current tax system may seem daunting and that there may be an increased reporting burden, given that financial information will need to be submitted to HMRC on a more regular basis than is currently required. ”
“But all businesses should have up to date information on their finances in order to make informed business decisions. Making Tax Digital is an opportunity for businesses to get control of their finances, to simplify and modernise their systems and give them valuable information, at the right time.”
“Our message to business owners is a simple one. There are fantastic accounting tools now available that can help you improve your business. Look at making them a part of your business as soon as possible, don’t wait for HMRC to enforce it!”
The event will take place from 11:30am – 2:00pm and will include a light lunch and an opportunity to network with other guests. To book, please visit: https://connection17-digital-tax.eventbrite.co.uk