Making Tax Digital with Saffery Champness
Thank you to Saffery Champness for hosting Maxing Tax Digital and partner and National Head of VAT, David McGeachy and James Bramsdon, Film & TV tax specialist.
Monday 1st October, 6.30pm drinks for a prompt 7pm start
71 Queen Victoria Street
HMRC have ambitious plans to digitise the processes and records that support income tax/corporate tax and VAT return submissions. The plans are known as Making Tax Digital (MTD)
The MTD proposals are likely to significantly affect our production accounts members. The changes will impact the processes of gathering and processing both accounts receivable and payable data and how you are required to report to HMRC.
HMRC have recently finalised the regulations and guidance for VAT and the first phase of the changes will be introduced in April 2019. If this is deemed successful, the next phase is expected to be introduced after April 2020
This session will cover the requirements and practicalities of MTD which include the mandate for robust digital linkage at each stage of the accounting process, from data entry to the final electronic submission of the tax/ VAT return.
The team will also give a brief update of tax issues affecting the industry. .