Crowe joins in tax campaign
National audit, tax, advisory and risk firm Crowe is preparing to help Midlands business get ready for the introduction of Making Tax Digital which will be introduced for VAT returns from April 1, 2019.
The firm is holding a webinar on Thursday, September 6, the first step in a campaign running throughout the autumn to help businesses prepare.
Keri Pay, VAT Partner in the Midlands office of Crowe in Oldbury, said: “We know that very few businesses are prepared for the switch.
“MTD is an initiative which is intended to minimise the tax loss from fraud and errors in the current system, and it begins on 1 April 2019 for VAT-registered businesses.
“Businesses with a turnover in respect of VATable supplies above the threshold of £85,000 will have to keep digital records and submit VAT returns using compatible software.
“Other elements of MTD, such as income tax and corporation tax, have been placed on hold until April 2020 at the earliest, but the majority of VAT-registered businesses need to address this issue now so that they are ready.”.
Crowe will be following up the webinar, which after September 6 will be available to view on their website, with in-house briefings and training for clients throughout the Midlands.
Mr Pay said: “MTD is something that you can’t put off, push into the pending tray or hope it will go away. It will be much easier if businesses plan their transition to MTD early so that they have time to absorb all the requirements, make the necessary system changes, and train staff.
“In time, it will become second nature, but as with the introduction of any new system it will seem harder at first.
“We are here to help any business that is concerned and can advise on the implementation of the compatible software that will be required in order to create and file VAT returns digitally.”
For further details of Crowe UK’s MTD4V campaign, or to receive details of access to the webinar, please email keri.pay@crowe.co.uk, for further information.
