Businesses struggling to make sense of MTD were invited to a free seminar on Tuesday 9 July at our Dalston office, where our Business Services and Software Specialist Amy Johnston delivered an informative session.
Held in conjunction with Cumbria Chamber of Commerce the event was held in response to widespread confusion about the new system, which requires businesses to submit VAT returns digitally.
Although MTD started in April, many businesses have yet to file their first return under the new regime.
Chamber Chief Executive Rob Johnston said: “Research carried out by the British Chambers of Commerce last year showed that businesses were far from ready.
“That’s why we urged the Government to delay implementation. They didn’t and it has created a headache.
“Making Tax Digital requires businesses to register then submit their returns using software approved by HM Revenue and Customs.
“Some businesses that already submit their VAT returns through an existing government gateway account may think they’re compliant when they’re not.
“Others may panic and buy expensive software they don’t need. We ran this event in partnership with David Allen to provide clear, no-nonsense guidance.”
The seminar covered what MTD is, what it means for businesses, how to be ready and advice on the best software options.
Those in attendance were offered a free 45 minute business and software review following the seminar to ensure they are ready for MTD and this also gives them an opportunity to ask any business specific questions in preparation.
As we near the first compulsory quarterly VAT submission deadline, it is important that businesses do not panic or feel it is too late to get prepared. In the long run, the Government plans to extend MTD to cover Income Tax and Corporation Tax.
If you need help with MTD and would benefit from a FREE software review give Amy and the team a call today on 01228 711888. We will get you digital.