Rural businesses urged to get up to speed on digital tax changes
PUBLISHED: 15:23 20 February 2019 | UPDATED: 15:36 20 February 2019
A free seminar is being organised to help East Anglia's rural businesses prepare for the introduction of a new system for submitting tax returns online.
Making Tax Digital, which comes into operation from April 1, will mean all VAT-registered businesses and organisations with a taxable turnover above the VAT threshold of £85,000 will have to submit their returns digitally.
The CLA (Country Land and Business Association) will host a seminar at the Rowley Mile Conference Centre in Newmarket on February 26 to provide information about the process and how businesses can ensure they are compliant.
Speakers will include CLA taxation adviser Jimmy Tse and experts from business software firm Landmark Systems and accountancy advisors Larking Gowen.
CLA East regional director Ben Underwood said: “All businesses should be considering the potential impact the new tax reporting system could have on them and begin to take the steps required to ensure they are compliant.
“Our event will provide practical advice on the changes that businesses need to make if they are trading over the VAT registration threshold. It is important for businesses to review their current processes, have a discussion with their existing software provider and consider if a new accounting and IT infrastructure may be necessary.
“Our members own and run some of the most successful rural businesses in the region and we hope this seminar will provide useful guidance on how to prepare for the new tax system.”
• For more details and to reserve a place, see the CLA event website.