A series of seminars have taken place in Kings Lynn to support business owners and individuals with the upcoming changes in UK tax.
Accountancy firm Stephenson Smart held three seminars at Knights Hill Hotel and Spa for existing clients, to explain the introduction of Making Tax Digital, which comes into effect on April 1.
Run by manager Dan Jastrzebski, the sessions explained the new requirements to existing clients and included a demonstration of how cloud-based software systems can support them.
Making Tax Digital is the government’s new initiative to introduce one of the most digitally advanced tax administrations in the world, making it more effective and easier for taxpayers to keep on top of their affairs.
VAT-registered businesses with a taxable turnover above the VAT threshold will be asked to use the service to keep records digitally using appropriate software to submit VAT returns.
Jon Brown, owner of Fairfield Farm, in Kings Lynn, said the seminars helped explain the transition in a simple fashion.
“MTD has been an added burden on businesses and it was the fear of the unknown that has been worrying a lot of people.
“Stephenson Smart have been on the ball with their approach to MTD and have helped me significantly in adopting a completely new system, as well as keeping me updated all the way throughout the process.”
Claire Melton, partner at Stephenson Smart said: “We are about to enter a new era and naturally some of our clients are a little reticent about the future and whether they can adapt to the new legislation.
“The seminars were designed to find out how our clients are feeling about it and to support them step by step through the changes.
“As expected, all clients have different requirements and questions. For some it is a matter of getting to grips with the appropriate software, but for others it will represent a big shift from paper documentation to electronic.
“Our job is to make sure the transition for each client is as seamless as possible.”
Presenter: Dan Jastrzebski
For more information on Making Tax Digital call Stephenson Smart on 01553 774104.
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