Businesses struggling to make sense of Making Tax Digital are invited to a free seminar next month.
Cumbria Chamber of Commerce has joined forces with accountants David Allen to stage the breakfast event in response to widespread confusion about the new system, which requires businesses to submit VAT returns digitally.
Although Making Tax Digital 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’re running this event in partnership with David Allen to provide clear, no-nonsense guidance.”
The seminar covers what Making Tax Digital is, what it means for businesses, how to be ready and advice on the best software options.
It takes place at David Allen’s head office at Dalmar House, Barras Lane, Dalston, on Tuesday July 9th from 8.30-10am.
All businesses attending will be able to book a free 45-minute assessment, followed by a software recommendation and demonstration.
To register, click here.
Amy Johnston, Business Services and Software Specialist at David Allen will be leading the session.
She said: “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.
“Not all businesses are prepared, which is why we have partnered with the Chamber to offer this free event.
“There are many different software options and it is important that businesses feel they have been recommended the best fit for them, which is what I hope this event will achieve.”
In the long run, the Government plans to extend Making Tax Digital to cover Income Tax and Corporation Tax.