D Day for Making Tax Digital is getting nearer, but there is no need to panic as FSB has established a range of resources designed to inform, guide and help small business owners through the process.
From April 1, businesses above the VAT threshold of £85,000 will need to keep digital records of all their transactions and file VAT returns using commercial accounting software.
For some SME owners this will mean a complete re-evaluation of their accounting process. Exactly what you need to do and when is becoming an ever-greater pressure.
The FSB has a Making Tax Digital hub on its website where a range of help is available.
Providing free guides to download, an overview of the new system, a video explanation of MTD and details of seminars to be held throughout the UK the hub will provide everything that is needed for the small business owner to comply with the rules.
There is also a webinar that First Voice magazine has produced in conjunction with accountancy software experts Sage Accounting.
And accountants Jaclyn Warwick and Laura Tweddle, of FSB member business Harlands Accountants in County Durham, said SME owners need not fear the switch to digital. Jaclyn said: "Clients are always saying: 'Why haven't I done this sooner? I didn't realise it was going to be this easy."
You can access the digital hub here, or click the button below to register for the Making Tax digital webinar.
Making Tax Digital: What you need to know, what you need to do and the benefits of going digital
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