Last week saw more than 60 small businesses attend the Federation of Small Businesses (FSB) West Midlands Making Tax Digital Masterclass in Solihull to gain expert advice and guidance on what they need to do to comply with the new Making Tax Digital rules, which begin in April 2019.
With the deadline to the Making Tax Digital scheme fast approaching the FSB held the seminar in a packed room at Silhillians Sports and Conference Centre in Knowle to provide clarification on the new rules for filing under Making Tax Digital for VAT. The seminar also helped in answering some of the questions and concerns from small businesses attending the event.
The seminar was hosted by James Cordiner, Senior Tax Consultant, at Abbey Tax, providers for FSB Tax Investigation Protection service.
Making Tax Digital for VAT begins in April and nearly every UK business that is VAT-registered and over the current VAT threshold of £85,000 will have to file their VAT returns digitally using functional compatible software.
Lee Osborne, FSB Development Manager in Warwickshire, Coventry and Solihull said “The FSB Making Tax Digital Seminar provided local FSB members and other small businesses in the region the opportunity to find out what the new rules mean for their business and how they can ensure they meet the new requirements. The seminar allowed small business owners the chance for face-to-face advice and to have their own specific questions answered.
We had a great turn out for the event and the attendees, both FSB members and non-members, left the masterclass fully informed with information to help guide them through this process. We received lots of positive feedback about how helpful the event was.’
The seminar is part of a full range of resources the FSB is putting together to help small firms understand and meet their requirements as part of the Making Tax Digital Programme.
As part of its commitment to support SMEs throughout the UK, FSB has unveiled a free-to-use Making Tax Digital hub available on its website. This will provide free guides to download and an overview of the new system.